Income Tax Articles

Income tax return
April 15, 2020
4 things to know about TDS on your income before you opt for alternative income tax regime

An Income Tax Department circular released on April 13 gives the detailed guidelines as to how you as a tax-payer can opt for the alternative regime that promises lower taxes, but at a cost

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April 6, 2020
Here are 3 taxation changes from April that will impact mutual funds

Taxation of mutual fund dividend, TDS on dividend, and taxation treatment of segregated MF units would undergo change from April 1

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aadhaar PAN linking
February 16, 2020
Your PAN will become inoperative after March 31 if it is not linked with Aadhaar

Till January 27, 2020, over 30.75 crore PANs were linked to respective Aadhaar. However, 17.58 crore PANs are yet to be linked with the 12-digit biometric ID

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ESOP tax Budget 2020
February 3, 2020
Budget 2020: ESOPs taxation get a breathing space

Start-ups need to qualify under Section 80-IAC of the Income Tax Act to avail of the taxation relaxation for its ESOP holders

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PPF taxation
February 2, 2020
Budget 2020: Rs 7.5 lakh a year limit set for tax-free employer’s contribution to NPS, provident fund and superannuation fund

Earlier, this portion of salary did not suffer taxation at any point of time since Exempt-Exempt-Exempt (EEE) regime is followed for these three funds

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February 1, 2020
Budget 2020: Govt clarifies NRIs taxation is only anti-abuse provision, doesn’t impact bonafide NRI workers

However, an Indian citizen who is not tax resident of any country will be deemed to be resident in India

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Tax exemption 2020 budget
February 1, 2020
Budget 2020: Exemptions you can still claim even if you opt for new income tax regime

Section 80C and 80D cannot be claimed to get the lower tax advantage. However, there are still a few exemptions you can claim even if you opt for new income tax slabs. Here are they

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February 1, 2020
Budget 2020: The new optional income tax rates are low, but you can’t claim exemptions

Those earning up to Rs 5 lakh a year will not pay any tax either in the old regime or in the new regime; the tax rate also remains same at 30% for those earning over Rs 15 lakh a year

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Dividend taxation
February 1, 2020
Budget 2020: Dividend distribution tax scrapped, but shifts the burden to the recipients; high income earners to bear the brunt

Those paying 20%+ taxes will end up paying more taxes as earlier they used to pay no tax on dividend income of up to Rs 10 lakh, and companies used to pay 15% DDT only

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