Thursday, 10 September 2020
Wednesday, 9 September 2020
1. If you have accrued your salary in a
financial year however got it in an alternate year, then Section 89(1) allows
you to adjust the salary amount.
Tuesday, 8 September 2020
There is a large group of whole legitimate ways of
saving tax under the Income Tax Act, 1961. These include tax-saving mutual
assets, NPS, insurance expenses, medical insurance and many others. In this
article, we spread all the major tax deductions under the Income Tax Act
Monday, 7 September 2020
The
Section 80D contains grants a tax deduction on medical insurance charges and
medical use. It is granted on the expenses paid for a medical insurance
strategy for the taxpayer himself and/or a nearby family member. Section 80D of
Income Tax offers a deduction over and above to the deductions under Section
80C of Income Tax Act
Friday, 4 September 2020
In
Budget 2020 has introduced a new income
tax slab and new tax rates for Individuals and a HUF. The new tax rate will
apply with a condition that no exclusion and finding can be asserted. Be that
as it may, the new tax regime for individuals and HUFs are discretionary.
Thursday, 3 September 2020
Did you get any development salary or arrears of salary? In the event that truly, you may be stressed over the tax ramifications of the equivalent. Do I need to pay taxes on the total amount? Shouldn't something be said about the tax counts of the earlier year, etc? Taxpayers who have such inquiries in their brain here is all that you have to know.
Tuesday, 1 September 2020
During the Financial plan 2020 speech, the Account Pastor Nirmala Sitharaman reported the inclusion of a new section called 115BAC into the Income Tax Act in the Association Spending plan 2020. Section 115 BAC, successful from FY 2020-21, manages the new and discretionary income tax regime for people and Hindu Unified Families (HUFs). Let us understand the new piece rates, qualification rules for the new regime and the deductions that are permitted or prohibited under Section 115BAC.
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