The common perception is that individuals earning up to Rs 15 lakh annually cannot completely save on taxes. However, if planned wisely, one can pay zero tax even with a yearly income of Rs 15 lakh. In this article, we look at how to achieve that. Firstly, by utilising the basic exemption limit offered by … Read more
The new financial year will start tomorrow and the investors will get another chance to review their investments and opt a suitable tax regime. There are various investment tools that are accepted under both tax regimes. Under the Old Tax Regime, numerous tax deductions and exemptions are offered under different sections of the Income Tax … Read more
Income Tax 2024-25: During the Union Budget proceedings for fiscal year 2023-24, Finance Minister Nirmala Sitharaman declared that the new tax structure will be established as the default regime. This updated approach to taxation was initially implemented in 2020. The present rules stipulate that should taxpayers neglect to declare their preference with their employer, deductions … Read more
National Pension System 2024: The Centre may extend the benefits of the National Pension System (NPS) to the new tax regime, a report said on Wednesday. It is to be noted that the New Tax Regime doesn’t have most tax exemptions valid under the Old Tax Regime. CNBC Awaaz reported that the government may make … Read more
Finance Minister Nirmala Sitharaman is scheduled to present the Interim Budget 2024-25 on February 1, 2024, instead of the full Budget like other years. Last Budget, the Centre brought in multiple new regulations for Income Tax. One notable announcement about personal taxation was the establishment of the New Income Tax Regime as the default tax … Read more
India’s insurance regulator has allowed insurance companies to classify debt securities of HDFC Ltd under the ‘housing and infrastructure’ category, it said in a notification on Friday. HDFC Ltd was merged with HDFC Bank on July 1, following which debt securities of the housing financier had been transferred to the bank. Insurance companies feared they … Read more
Aug. 14, 2022 — Four major cruise lines are dropping their COVID-19 vaccination requirements for some sailings next month, according to USA Today. Carnival Cruise Line won’t require unvaccinated guests to apply for an exemption to sail after Sept. 6. The changes are subject to local restrictions, such as those in Bermuda, Canada and Greece, … Read more
Georgina Fallows is asking government to protect from harassment people who can’t wear face coverings. Source link