Sir, I have decided to shift to the New Tax regime. I understand that deductions are not allowed in the new tax regime. Will I lose the tax benefit on the interest income of my PPF account? Please answer my query. — Ganesh By Rajiv Bajaj, Chairman & MD, BajajCapital No, the interest income from the … Read more
The Reserve Bank of India (RBI) revealed the Sovereign Gold Bond (SGB) Scheme Series III schedule for the fiscal year 2023-2024, which is set to commence on December 18 and conclude on December 22. The RBI has established the issue price for SGBs 2023-24 Series III at Rs 6,199 per gram, with a discount of … Read more
Mumbai: The Bangalore Income Tax Appellate Tribunal has ruled that wholesalers cannot claim tax benefit for expenses incurred pertaining to new product samples. ITAT said that the burden to incur expenditure of new product samples is that of a manufacturer of a product. And that the related party wholesaler cannot claim the tax benefit on … Read more