retirement savings

VRS- A Complete Guide for Tax Planning

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 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 […]...

Read More

8 Income Tax Saving Schemes with Good Returns & Tax Benefits

Income Tax - 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  Ba...

Read More

5 Simple Budgeting Habits Everyone Should Practice

Income Tax - 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...

Read More

Let your Investments Evolve With Your Life

Income Tax - 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. ...

Read More

Basic Savings Bank Deposit Account (BSBDA) – FAQs

Income Tax - 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'....

Read More

FM likely to keep the corporate tax rate unchanged at 30%

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 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. ...

Read More

Government will review EET regime, MAT at 2% on Gross Asset value and proposal to tax charitable organisations

Income Tax - A senior revenue department official told , There are three issues on which a political call is required. These are: the exempt-exempt- tax regime for retirement savings, the 2 per cent minimum alternate tax on gross tax assets of companies and the proposal to tax charitable organisations at 15 per cent. Hectic lobbying by interest groups...

Read More

Direct Tax code (DTC) may be rewritten: FM

Income Tax - Finance Minister Pranab Mukherjee on Friday indicated the government could rewrite the new direct tax code to make it acceptable to all stakeholders. On the tax code, he said, the government would attempt to build consensus on the proposals. “I have laid a certain proposal in the form of a direct tax code. But it is not the Bhagwad Git...

Read More

CBDT called for thorough review of the direct tax code

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 opposition from within government, too. An internal committee of the Central Board of Direct Taxes, the principal policy-maker in the domain, has called for a thorough review of the code, including a revision of th...

Read More

Employee of PSU & Nationalised Banks Not Treated as Government Employee for Exemption u/s 10(10AA)

Kamal Kumar Kalia & Ors Vs Union Of India & Ors. (Delhi High Court) - 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)?...

Read More

National Savings (Monthly Income Account) (Amendment) Scheme, 2020- Interest Rate Notified

Notification No. G.S.R. 286(E) - (05/05/2020) - 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...

Read More

CBDT amended income tax rules for Provident Fund Trusts by amendment in rule 67

Notification No. 24/2009 - Income Tax - (13/03/2009) - Notification No. 24/2009 - Income Tax Private provident funds and superannuation funds, that channelise a larger chunk of their corpus equity will not attract income tax, following change in tax rules. The tax-free status would allow more of retirement savings to flow into shares The Central Board ...

Read More

Recent Posts in "retirement savings"

Employee of PSU & Nationalised Banks Not Treated as Government Employee for Exemption u/s 10(10AA)

Kamal Kumar Kalia & Ors Vs Union Of India & Ors. (Delhi High Court)

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)?...

Read More

VRS- A Complete Guide for Tax Planning

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 […]...

Read More
Posted Under: Income Tax |

National Savings (Monthly Income Account) (Amendment) Scheme, 2020- Interest Rate Notified

Notification No. G.S.R. 286(E) 05/05/2020

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 o...

Read More

8 Income Tax Saving Schemes with Good Returns & Tax Benefits

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  Ba...

Read More
Posted Under: Income Tax |

5 Simple Budgeting Habits Everyone Should Practice

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...

Read More
Posted Under: Income Tax |

Let your Investments Evolve With Your Life

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. ...

Read More
Posted Under: Income Tax |

Basic Savings Bank Deposit Account (BSBDA) – FAQs

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'....

Read More
Posted Under: Income Tax |

Five reasons why you should invest through the SIP route

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...

Read More
Posted Under: Income Tax | ,

FM likely to keep the corporate tax rate unchanged at 30%

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. ...

Read More
Posted Under: Income Tax |

Government will review EET regime, MAT at 2% on Gross Asset value and proposal to tax charitable organisations

A senior revenue department official told , There are three issues on which a political call is required. These are: the exempt-exempt- tax regime for retirement savings, the 2 per cent minimum alternate tax on gross tax assets of companies and the proposal to tax charitable organisations at 15 per cent. Hectic lobbying by interest groups...

Read More
Posted Under: Income Tax |

Browse All Categories

CA, CS, CMA (5,626)
Company Law (7,540)
Custom Duty (8,585)
DGFT (4,577)
Excise Duty (4,508)
Fema / RBI (4,766)
Finance (5,094)
Income Tax (37,919)
SEBI (4,056)
Service Tax (3,743)

Search Posts by Date

August 2021
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031