Tax Planning Articles

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 collected at source
February 1, 2020
Budget 2020: Tax collected at source on overseas tour program packages, remittances out of India

From April 1, 2020, overseas tour programme packages and LRS will cost your more with a TCS being levied on it

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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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aadhaar PAN linking
January 25, 2020
Your employer can deduct TDS at 20% on taxable income if you don’t furnish PAN or Aadhaar

Health and Education cess at 4% is not to be deducted in case the tax is deducted at 20%

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Capital gains tax on property
January 13, 2020
A guide to calculating capital gains on property sale

When you sell a residential property for a profit, the gains are taxable. Here’s how you need to calculate the gains and pay the taxes

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income tax return
January 9, 2020
Joint owners of single house property can now file return of income in ITR-1 or ITR-4 forms

This is relief in eligibility conditions for filing of ITR Form-1 (Sahaj), Form-4 (Sugam) for the assessment year 2020-21

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Tax saving mutual funds
December 25, 2019
Did your ELSS/tax-saving fund make the cut in 2019?

Tax-saving mutual funds are rising in popularity due to the shortest lock-in and high wealth creation potential compared to Section 80C alternatives

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Linking PAN and Aadhaar
September 28, 2019
Deadline to link PAN and Aadhaar extended to December 31; here are 7 steps to link them

Earlier deadline was September 30, 2019. We also explain how you can link PAN and Aadhaar

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