The Indian Finance Minister has tabled today, the Union (Full) Budget 2019-20 in the Parliament. Below are some of the key highlights that are related to Personal Finances; Full Budget 2019-20 Highlights Latest Income Tax Slab Rates FY 2019-20 Below are the latest Income Tax Slab Rates for FY 2019-20 or AY 2020-21. (FY is Financial Year and AY […]
Tax Planning
How to Pre-validate Bank Account to receive your Income Tax Refund Amount online?
As per the recent communication shared by the income tax department, all eligible income tax refunds will be only issued digitally. Further, tax refunds will be made only to the bank accounts which are linked with PAN. The above guidelines regarding the tax refunds have been effective from March 1, 2019. So, to receive […]
AY 2019-20 Income Tax Return Filing | Which ITR Form should you file?
The Central Board of Direct Taxes has notified the new ITR Forms for AY 2019-20 Income Tax Return Filing (for FY 2018-19). The new ITR forms in PDF format have been made available, while the excel utilities (or) Java Utilities for AY 2019-20 will soon be made available on incometaxindia e-filing website. What is Assessment Year […]
Income Tax Exemption Vs Tax Deduction Vs Tax Rebate Vs TDS | Key Differences
Tax planning is an important part of a financial plan. Whether you are a salaried individual, a professional or a businessman, you can save taxes to certain extent through proper tax planning. The Indian Income Tax act allows for certain Tax Deductions and Tax Exemptions which can be claimed to save tax. You can subtract […]
Revised GST Rates on Real Estate Properties | Latest GST Rates for Under-Construction Properties
The GST Council today (24-Feb-2019) has announced a rate cut in the goods and services tax (GST) charged on sales of residential properties under construction. As per the latest decision, the new GST rate applicable for all housing projects will be 5%, down from the current 12%. Whereas, the council also decided to lower the […]
Latest TDS Rates FY 2019-20 | TDS Rate Table for AY 2020-21
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 […]