Income Tax : A Salaried man can receive VRS more than once in his lifetime. But he can plan his tax liability only once. VRS (Voluntary Retirem...
Income Tax : Article discusses Rate of Interest, Limit of Investment and Income Tax Benefit from Investment in 8 Most Popular Tax Saving Instru...
Finance : As an accountant, you probably recognize how important it is to have a budget and save money for unexpected expenses. Unfortunatel...
Finance : As we progress in life, our goals and milestones are modified. Not only have we changed the way we live but we also change our per...
Fema / RBI : Holders of 'Basic Savings Bank Deposit Account' will not be eligible for opening any other savings account in that bank. If a cust...
Income Tax : The finance ministry is likely to keep the corporate tax rate unchanged at 30%, as it faces stiff resistance from companies to the...
Income Tax : A senior revenue department official told , There are three issues on which a political call is required. These are: the exempt-ex...
Income Tax : Finance Minister Pranab Mukherjee on Friday indicated the government could rewrite the new direct tax code to make it acceptable t...
Income Tax : Corporate India is not the sole critic of the Direct Taxes Code. The code, precursor to a brand new income tax law, has found oppo...
Income Tax : The issue under consideration is whether the assessee being employee of Public Sector Undertaking (PSU) and Nationalised Banks tre...
Income Tax : CBDT notifies Income Tax Rule 21AAA. Taxation of income from retirement benefit account maintained in a notified country and FORM...
Finance : National Savings (Monthly Income Account) (Amendment) Scheme, 2020- The deposit made under this Scheme between 12th December, 2019...
Income Tax : Notification No. 24/2009 - Income Tax Private provident funds and superannuation funds, that channelise a larger chunk of their c...
CBDT notifies Income Tax Rule 21AAA. Taxation of income from retirement benefit account maintained in a notified country and FORM No. 10-EE vide Notification No. 24/2022-Income Tax Dated: 4th April, 2022. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi, the 4th April, 2022 Notification No. 24/2022-Income Tax G.S.R. 256(E).— In exercise of […]
The issue under consideration is whether the assessee being employee of Public Sector Undertaking (PSU) and Nationalised Banks treated as government employee for the purpose of exemption u/s (10AA)(i)?
A Salaried man can receive VRS more than once in his lifetime. But he can plan his tax liability only once. VRS (Voluntary Retirement Scheme) – VRS is often offered by the corporates for retrenchment of its surplus work force and directly to cut short it’s one of the major operating expense in form of […]
National Savings (Monthly Income Account) (Amendment) Scheme, 2020- The deposit made under this Scheme between 12th December, 2019 to 31st March, 2020 (both days inclusive) shall bear interest at the rate of 7.6 per cent. per annum. The deposit made under this Scheme on or after the 1st day of April, 2020 shall bear interest at the rate of 6.6 per cent. per annum
Article discusses Rate of Interest, Limit of Investment and Income Tax Benefit from Investment in 8 Most Popular Tax Saving Instruments in India i.e. 1,2,3 and 5 year Time Deposit, 5 Year National Savings Certificates VIII Issue (NSC), 5 Year Post office Recurring Deposit(RD), 15 year Public Provident Fund (PPF), Post office Saving Bank Account, […]
As an accountant, you probably recognize how important it is to have a budget and save money for unexpected expenses. Unfortunately, most of our clients don’t understand how easy it can be to create and manage a budget with the tools we have available at our disposal. I
As we progress in life, our goals and milestones are modified. Not only have we changed the way we live but we also change our perception of the future. Our life’s goals include factors such as travelling, medical benefits, financial independence and zero liabilities.
Holders of ‘Basic Savings Bank Deposit Account’ will not be eligible for opening any other savings account in that bank. If a customer has any other existing savings account in that bank, he / she will be required to close it within 30 days from the date of opening a ‘Basic Savings Bank Deposit Account’.
A Systematic Investment Plan or SIP, as it is popularly known, is a vehicle offered by Mutual Funds to help investors save regularly by committing a fixed amount of investment in a scheme periodically, normally a month. The units are allotted on the basis of NAV existing on the date o
The finance ministry is likely to keep the corporate tax rate unchanged at 30%, as it faces stiff resistance from companies to the draft direct tax code’s proposal to cut the rate to 25% and remove all exemptions. “Corporates are resisting the phasing out of exemptions even with a lower tax rate,” said a senior government official.
