CMA Rakesh Bhalla* Article contains update for the Month of June 2018 related to GST, Excise, Service Tax, Customs & VAT which includes Summary of Notifications, Circulars, Advance Rulings, Important Case Laws and announcements made by Government. A. Goods & Services Tax (GST) Tax Update for June 2018 ♦ Government has extended the exemption on […]
Just like making investments, saving regularly and maintaining a reserve of liquid cash is essential to ensure good financial health for your business. Also, understanding when to intervene with external funds is equally important. Whether it is a very long working capital cycle, poor cash flow management or clients failing to make payments on time, […]
Gratuity payable to government employees is fully exempt.For non government employee covered under Payment Of Gratuity Act,1972, the maximum limit for exemption is Rs 20 lakhs and for any other employees, the maximum limit of exemption is Rs 10 Lakhs.
Discover 27 expert tips to save income tax in India for salaried and business persons. Learn how to legally reduce your tax liability and maximize your savings.
The increased incidence of lifestyle-related diseases and the spiraling costs of health care has made it necessary for people to get health insurance coverage. You can get yourself and your family, which includes your spouse, children, parents, and other dependents, covered under health insurance. If you or members of your family are affected by a […]
In this article we have listed four tips to save Tax Through Your Parents which includes 1. By Investment & Share Trading in your parents name 2. By Paying Rent to Parents to claim HRA or Section 80GG deduction 3. By shifting losses on Shares by off market Transactions 4. By doing share trade in Parents Name.
How is the exemption on HRA calculated? When can you claim exemption on HRA? Is your landlord an NRI? When can you enjoy the twin benefits of home loan and HRA? Rent-free accommodation vs HRA
CA Abhianchal Dua Deduction is available up to Rs. 25,000 to a tax payer of premium paid for Medical insurance of self, spouse and dependent children. If individual or spouse is 60 years old or more the deduction available is Rs 30,000 (this amount has been increased to Rs 50,000 w.e.f A.Y 2019-20). An additional […]
Its a fact that Your own parents as well as your own in-laws can become legal tools of tax planning for you and your family. If you want to achieve this dictum then all you are need to do is just to give away a portion of your funds, either as a gift or a loan, to your parents as well as your parents in law so that in years to follow your income tax burden becomes lighter as the income on funds transferred by you to them which would bring in income would be taxed in their hands.
Arjuna (Fictional Character): Krishna, what can you say about completion of 1 year of GST implementation? Krishna (Fictional Character): Arjuna, GST now completes 1 year in India, this year has been tough for everyone. The biggest Tax reform in India is now slowly being accepted by all. Still there are many changes which are yet […]
