Tax Planning

Tax Planning 11 min read
Income Tax for NRI – Taxable Income, Deductions and Exemptions

In the context of the Income Tax Act of 1961, the provisions of the law are applicable to Indian residents as well as Non-Resident Indians (NRIs). However, the guidelines and regulations applicable to the latter differ to various extents from those of resident Indians. This article highlights all the key aspects explaining the structure of ... Income Tax for NRI – Taxable Income, Deductions and Exemptions

Tax Planning 9 min read
Direct Tax and Indirect Tax: 8 Things You Should Know

Taxes are one of the prime sources of revenue for the government. Tax earnings support government operations, such as financing public services. Taxes are collected at various levels like municipal, state, and national. India’s tax system can be essentially divided into two types: direct tax and indirect tax. This categorisation is based on how the ... Direct Tax and Indirect Tax: 8 Things You Should Know

Tax Planning 12 min read
How You Can Plan Capital Gain Tax on Property

Any profit realised from selling a capital asset is considered a capital gain. The profit thus earned is categorised as an income. As a result, a tax has to be paid on the income earned. Capital gains can be defined as “investment income” derived from real assets such as property, financial assets such as shares, ... How You Can Plan Capital Gain Tax on Property

Tax Planning 15 min read
What is Long-Term Capital Gains Tax: Calculation on Different Asset Classes?

Long-term capital gains are gains earned on the sale of long-term capital assets held for 36 months or more (24/12 months in some cases). These gains are considered ‘income’ and hence are taxable. The LTCG is 10% for gains in shares, & equity funds and 20% for gains in the sale of property and other ... What is Long-Term Capital Gains Tax: Calculation on Different Asset Classes?

Tax Planning 13 min read
Tax Credit and Tax Deductions: Expenses You Can Claim in FY 2022

Did you know that the government of India offers several different types of tax concessions and exemptions for taxpayers under the Indian Income Tax Act, 1961? Tax credits and tax deductions are two such tax concession features. Tax credits, as well as tax deductions, allow taxpayers to reduce their tax liability, either by reducing the ... Tax Credit and Tax Deductions: Expenses You Can Claim in FY 2022

Tax Planning 10 min read
6 Tax Planning Strategies for New Businesses

Every Indian individual, LLPs, HUF, partnership firms, corporates, AOPs, BOIs, and the likewise are obligated to pay taxes on time.  Payment of taxes is counter-intuitive. On one hand, it reduces the take-home income  as well as keeps control of the standard of living, especially on the expenses. On the other hand, it also helps the ... 6 Tax Planning Strategies for New Businesses

Tax Planning 10 min read
Tax Saving Options For You Under Section 80C

Every individual, HUFs, AOPs, company, firm, trust, etc. are obligated under law to pay taxes. But there are several legally permissible tax-saving options that an individual can tap into to reduce their tax liability.  Tax Saving options under the Income Tax Act, 1961 Chapter VI A of the Income Tax Act, 1961 provides details of ... Tax Saving Options For You Under Section 80C

Savings Scheme 8 min read
Atal Pension Yojana vs NPS: A Comparative Guide

Post-retirement days are when you don’t have an active work life, and your income shrinks. However, even then, you have certain basic expenses, including medical costs. To ensure that you have a financially stable life when you have grown senile, you need to start saving from the very beginning of your working life.  There are ... Atal Pension Yojana vs NPS: A Comparative Guide

Tax Planning 7 min read
Everything You Need To Know About Income Tax Deduction on FDs

A Fixed Deposit (FD) is the preferred investment instrument for risk-averse investors, especially senior citizens. Despite there being several new-age investment options, many with higher returns, FDs are integral to the investment portfolios of most investors as they park a significant chunk of their corpus in fixed deposits. In fact, at the end of the ... Everything You Need To Know About Income Tax Deduction on FDs

Savings Scheme 7 min read
Sukanya Samriddhi Yojana: Eligibility, Benefits and More

The Sukanya Samriddhi Yojana (SSY) is a flagship small-savings scheme launched by the government of India in 2015. The scheme aims to provide a saving option for the welfare of the girl child under the “Beti Bachao Beti Padhao” (Save Girl Child, Educate Girl Child) initiative. Sukanya Samriddhi Scheme eligibility is inclusive and benefits all ... Sukanya Samriddhi Yojana: Eligibility, Benefits and More

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