Do you know the changed NPS Tax Benefits 2019? How NPS will be taxed under different IT Sections like Sec.80CCD(1), 80CCD(2) and 80CCD(1B)?Recently Government of India changed certain rules related to NPS. Long back, I have already written a post regarding NPS Tax Benefits. However, considering … [Read more...]
Tax on Gold in India – How it is taxed while buying and selling?
What is Tax on Gold in India at the time of buying and selling? 4th November 2018 is Dhanteras day for all of us. We feel proud and auspicious to buy the gold on this day. However, you must also know the taxation on Gold before jumping into investment.We can hold the gold in many forms like … [Read more...]
How to reset e-Filing password – 5 ways Explained
Many of use open e-Filing portal once in a year. Hence, there is a possibility to forget the password. In such a situation, how to reset e-Filing password? There are 5 ways to do the same. Let me explain all of them in detail. How to reset e-Filing password - 5 Ways Explained Before proceeding … [Read more...]
Section 80TTB – Rs.50,000 deduction for Senior Citizens
During the Budget 2018, Finance Minister inserted a new Section 80TTB. This allows a tax deduction of up to Rs.50,000 with respect to interest income from FDs held by senior citizens. Let see the features of this section.FDs or fixed instruments are the major backbones of many of the senior … [Read more...]
How to pay income tax online in India using Challan 280?
Each year July month is a peak time for taxpayers to file their IT Return. However many of us are unaware of the process of how to pay income tax online in India using Challan 280? Let me share this with you all today.Many of are unaware of pay income tax online in India using Challan 280 … [Read more...]
How to avail instant e-PAN online at free of cost?
Now Income Tax Department started new facility of avail instant e-PAN online at free of cost. Those who have not PAN card can apply and avail e-PAN instantly at free of cost. What is e-PAN? e-PAN is a digitally signed PAN card issued in electronic format by Income Tax Department using Aadhaar … [Read more...]
Cost of Inflation Index for FY 2018-19 / AY 2019-20 for Capital Gain
CBDT on 13th June 2018 announced the Cost of Inflation Index for FY 2018-19 / AY 2019-20. You may be aware that the base year was changed from the earlier FY 1981-82 to FY 2001-02. What is Cost of Inflation Index (CII)? It is a measure of inflation that is used for computing Long Term Capital … [Read more...]
How to download LTCG Tax Statement of Equity Mutual Funds?
We all know that effective from 1st April 2018, we have to pay tax on equity mutual funds if there is LTCG. However, the biggest task is how to calculate or identify the NAVs. To make your life simple, we can now download LTCG Tax Statement of Equity Mutual Funds.Effective from 1 April 2018, … [Read more...]