Earlier there was a confusion on whether the FY 2019-20 for investment extended up to 30th June 2020 or not? However, finally Ministry of Finance cleared the doubt yesterday. FY 2019-20 for investment extended up to 30th June 2020 Refer this yesterday's notification...
What is the latest TDS Rate Chart for FY 2020-21 (AY 2021-22)? What do you mean by TDS? What is the applicable TDS Rates for NRIs for FY 2020-21 (AY 2021-22)? When we receive income through different ways like Salary, Dividend income from mutual funds or stocks,...
Post Budget 2020, what are the NPS Tax Benefits 2020 under Sec.80CCD(1), 80CCD(2) and 80CCD(1B) and especially if you opted the new tax regime? Let us understand the changes in detail. All of you know that during the Budget 2020, the Government introduced the new tax...
Recently I wrote an article with respect to Mutual Fund Taxation for FY 2020-21. However, due to the recent Budget 2020, the clarity emerged with respect to Taxation on Side Pocketed or Segregated Mutual Funds. You can refer my earlier post related to Mutual Fund...
Do you know under the New Tax Regime, which are the exemptions or deductions not allowed? Let us discuss the New Tax Regime - List of exemptions and deductions disallowed in detail. During the Budget 2020, Finance Minister introduced the new tax regime. However, an...
After the recent noise of Budget 2020, what is the actual Mutual Fund Taxation FY 2020-21 (AY(2021-22)? What is the new Dividend Distribution Tax on Mutual Funds and Whether there is a TDS if we invest in Mutual Funds? 3 Factors that determine the Mutual Fund Taxation...
What are the Latest Income Tax Slab Rates FY 2020-21 (AY 2021-22) after Budget 2020? Is there any changes to applicable tax rates for individuals? Let us see the details. I already covered the Budget 2020 related posts and you may refer them for your...
So finally the Budget 2020 is out. Whether you expected a lot from this budget? It is natural for all individuals to expect something from each budget. However, all expectations will not turn into realities. Let us see the Budget 2020 Highlights. Budget 2020...
This time well in advance, CBDT notified the forms for ITR AY 2020-21. You can download Income Tax Return Forms AY 2020-21. As of now, CBDT notified the ITR-1 (Sahaj) and ITR-4 (Sugam). The new ITR forms in PDF format are available. However, the excel utilities (or)...
CBDT notified the Cost of Inflation Index FY 2019-20 AY 2020-21 for Capital Gain on 12th September 2019. You may be aware that the base year was changed from the earlier FY 1981-82 to FY 2001-02. Change in the Base year for Capital Gain Indexation In Budget 2017, the...
How to verify ITR without login to e-Filing Account? Once you file the ITR, then the last step fo completing your ITR is to verify your ITR. IT Department now launched a facility of verifying ITR without login to e-Filing Account. Earlier we used to take the printout...
We all feel our LIife Insurance Maturity is always tax-free. But many of us unaware that the Government introduced the TDS on Life Insurance Maturity Amount and increased the same during Budget 2019. Hence, let us understand the applicable TDS on Life Insurance...