Not reducing corporate tax rate has been termed as a big miss by the finance minister. But data shows not many companies would have benefited from the cut
With the cost of medical treatments going up more than the general inflation levels and senior citizen having to spend relatively more money on their health.
While this Budget has hit the right chords for reducing rural distress and increasing government expenditure in infrastructure, healthcare and education, it has been disappointing on other fronts.
While this year Union Budget was a mix bag of both expectations and a few surprises, we list out a few broad points which will have an impact on how you save, invest, borrow, and insure.
An allocation of INR 10,000 crores has been announced on expansion of telecom infrastructure under various government projects in the country, however, the Union Budget does not bring any cheer to the telecom sector.
With several changes carried out in personal tax rates in last three years, the finance budget 2018 have kept the tax rates unaltered
It is required that the deduction under section 80C be simplified and the limits be revised significantly.
As term insurance is the most cost effective way to cover 10–15 times of one’s annual income, a separate section for term insurance beyond the Section 80C limit would incentivise people to buy term insurance policies and get adequate life cover in the process.
APA has become a preferred method of dispute resolution for taxpayers, providing relief to those entangled in protracted litigation.
Several robust tax measures and following tax arrangements are expected from this Budget.
There may be an increase in the ceiling of deduction under Section 80C from the existing Rs 1,50,000 to Rs 2,00,000.
As in the case of any new law, the IBC too has certain loopholes and implementation-related issues, which came to the fore as the process progressed.
The terms of LTA are defined in section 10(5), Rule 2B of the Income Tax Act 1961.
Marry your financial goals with tax planning investments.
Deduction under Section 80C is not only available for investments but also for specified expenditures/payments made by the tax-payer.
Did you know there are certain tax saving investments that helps us save for our future, while also reducing current taxes?
The Income Tax Department appears set to tax unsold flats that have been lying with developers for more than a year.
Here are the reasons why you may be required to pay tax which is called self assessment tax at the time of filing the ITR.
You can still file your taxes by the end of the assessment year. And in addition to paying any unpaid tax, you may have to pay penalties and interest on any tax that had not been paid.
Here are some smart tips to e file your income tax return online.
To avoid indiscretion, income earned by you at the old workplace should not be ignored and taxes should be paid.
File your income tax return before the due date of July 31.
There are different costs which are involved in the purchase of car and bike for the end user.
The end consumer will thus only bear the GST charged by the last dealer in the supply chain, with set-off benefits at all the earlier stages.
There are few conditions under which one cannot file ITR 1 even if the individual is a salaried person