As a consequence of sheer ignorance, many working as a advisor go for this scheme with out realizing that they aren’t eligible for this presumptive tax scheme. The revenue tax legal guidelines supply a presumptive scheme of taxation for sure professionals. There are many doubts about what’s the actual scheme and whether or not each
Income Tax
Representational picture Revenue Tax exemption beneath Part 54 to Part 54GB: In view of the difficulties confronted by taxpayers because of the second wave of the Covid-19 pandemic throughout the nation, the Central Authorities has prolonged the timeline for claiming a tax deduction on the funding made in a residential home until September 30. The
Consultant picture The Central Authorities on Friday (June 25) introduced tax aid for households of those that have misplaced their lives as a result of Covid-19 since FY 2019-20. The Authorities has determined to offer earnings tax exemption on any quantity acquired by the household of an worker from the employer. Additionally, exemption as much
Subsequently, in your case, assuming that mutual funds are equity-oriented, LTCG over and above Rs 1 lakh shall be taxed at prescribed price. By Chirag Nangia I’m within the Rs 30-lakh tax bracket. I’m salaried and have mutual fund investments of over one 12 months. I’m planning redemption of a few of these. Which ITR
Earnings tax saving ideas and ticks 2021. Representational picture/Pexels. Earnings Tax planning: Covid-19 pandemic has hit the salaried class arduous. Lockdown led to wage cuts and even job losses for lakhs of workers final yr. Even the casual sector staff have been badly hit by the pandemic and subsequent lockdowns. Now we have all the
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