We receive income through different ways, it can be your Salary, Dividend income from mutual funds or stocks, commission, rent, interest on your Bank Fixed Deposits / Securities etc., The providers of these incomes (like your company / bank) can deduct a certain percentage of income as TDS (Tax Deducted at source) based on certain […]
Tax Planning
Income Tax Deductions List FY 2018-19 | List of important Income Tax Exemptions for AY 2019-20
Budget 2018-19 & the Finance Bill 2018 have been tabled in Parliament. The Income Tax Slab rates have been kept unchanged by the Finance Minister for the Financial Year 2018-19 (Assessment Year 2019-2020). Tax planning is an important part of a financial plan. Whether you are a salaried individual, a professional or a businessman, you can […]
Mutual Funds Capital Gains Taxation Rules FY 2018-19 (AY 2019-20) | Capital Gains Tax Rates Chart
Capital asset typically refers to anything that you own for personal or investment purposes. It includes all kinds of property; movable or immovable, tangible or intangible, fixed or circulating. Capital assets are further classified as Financial Assets and Non-Financial Assets. Financial assets are intangible and represent the monetary value of a physical item. Stocks (Shares) […]
Health Insurance Tax Benefits (under Section 80D) for FY 2018-19 / AY 2019-20
Health Insurance (or) Mediclaim insurance is a must-have for all. Considering the rate at which medical costs are rising, it is very important to have sufficient medical insurance coverage. The medical inflation in India is increasing at a significant rate almost 12-15 per cent every year. Therefore, it is critical to have an adequate health […]
How many Previous Years’ Income Tax Returns can be filed after Due date?
Taxes and Death are certain. As a responsible citizen, you need to file your Income Tax Returns in the most honest way and more importantly, you should do it before the applicable due date. The recent initiatives taken up by the Govt and the Income Tax department have been yielding good results as far as […]
Budget 2018 LTCG Tax on Equity Mutual Funds & Important Implications
Budget 2018 has re-introduced the long-term capital gain tax on equity shares and equity mutual funds. Almost all financial blogs and portals has published at least one article on this topic (including relakhs.com). This Budget 2018 LTCG Tax proposal will be implemented from 01-April-2018. In this post, I am not going to discuss about the […]