Tax Saving over Rs 1 lakh in tax just via these 4 avenues

Tax Saving

How to Tax Saving more than INR 1 lakh on ITR with these 4 avenues? The Income-tax Act, 1961 has different sections citizens can use to lessen their tax outgo each year. Furthermore, the most widely recognized sectors in the Act that individuals use to save money on impose are 80C, 80D, 80CCD (1B), and 24 (b). Tax Saving In any case, every of these sections accompany a highest investment sum set by the government. Thusly, in view of the tax rate of the individual – 5 percent, 20 percent and…

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How Can NRIs Avoid Tax and Save Money on ITR ?

How can NRIs avoid Tax

How can NRIs avoid Tax Troubles? The government has shut the small reserve saving window for non-resident Indians (NRIs). Till now, NRIs were permitted to keep their PPF records and accounts and NSCs yet not extend them after any maturity. The new regulations say that current PPF records will be soon shut and NSCs will be dealt with as encashed when one turns into a NRI. These investments will now acquire only 4% till development. This is How can NRIs avoid Tax and save their money. These new standards add to…

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Advance ruling in GST Procedure and Application

Advance ruling in GST

What is Advance ruling in GST? The Advance ruling in GST is a composed elucidation of tax laws. It is issued by tax experts to organizations and people who ask for illumination of certain duty matters. Advance ruling is frequently asked for when the citizen is confounded and questionable about specific arrangements. Advance tax ruling is applicable for, before beginning the proposed procedure. For instance, under income tax, advance ruling is accessible in international tax collection. This is to help non-occupants find out the wage impose obligation, design their salary…

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Section 50C & 50CA of the Income Tax Act

Section 50C

Section 50C & 50CA of the Income Tax Act Section 50C-Special Provision for Full Value of Consideration in Certain Cases With effect from A.Y. 2003-2004; section 50C has been inserted in the Income Tax Act, 1961; dealing specifically with gross consideration in the computation of capital gains in respect of transactions in land or building or both. 1) U/S 50C, where the consideration earned or accruing due to the transfer by the assessee of a capital asset; being land or building or both, is less than the value assessed or…

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Indian Budget 2018-2019 Highlights

Indian Budget

Mr. Arun Jaitley, the Finance Minister of India presented the general Indian Budget 2018-19 on Thursday. This Budget is Mr. Jaitley’s fifth budget and lasts for NDA government before the government polls. This is also the first budget after one of the biggest economic reform Goods and Service Tax (GST). Indian Budget 2018-19 Highlights The Union Budget was led with a sensible and realistic approach on practical considerations. The idea to strengthen agriculture, rural and tribal development, health and safety, education Micro Small Medium Enterprise and Infrastructure sectors and industry…

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