NRI Status and Taxation: New criteria & how income will be taxed in India

By |2021-07-05T10:35:05+00:00February 12th, 2021|Categories: Save Income Tax|Tags: , , , |

Among the global pandemic crisis and the expected economic confusion, the Finance Bill was passed by the Parliament with some significant relaxations on March 23, 2020. The changes originally proposed in Finance Bill 2020 relaxed at the time of passage of the Bill in the conditions for determining an individual's residential status in India. This change [...]

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How to save Income-Tax under 80GG?

By |2019-04-02T05:15:46+00:00March 27th, 2019|Categories: Deductions, ITR Filing, Save Income Tax|Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

Section 80GG of the Income Tax Act allows claiming of the tax deduction for the house rent paid for accommodation. Not all salaried people are able to stay in their own place. Either due to work being located in distant locations, affordability, or many other problems, personal or otherwise. To ease up their problems, the Government [...]

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Tax Saving on Mutual Funds

By |2021-07-02T08:23:19+00:00July 8th, 2017|Categories: Save Income Tax|

Introduction A mutual fund is a professionally-managed trust that pools the savings of many investors and invests them in securities like stocks, bonds, short-term money market instruments and commodities such as precious metals. Investors in a mutual fund have a common financial goal and their money is invested in different asset classes in accordance with the [...]

NSC Interest Income Taxability

By |2021-07-02T07:23:26+00:00July 6th, 2017|Categories: ITR Filing, Other Sources, Save Income Tax|

Introduction National Savings Certificates are one of secure investment available at all Indian post-offices. These certificates are designed for salaried employees and businessmen, and they produce fixed income like fixed deposits. Any individual can invest for up to 10 years under this scheme. There are two different issues of NSCs include NSC- VIII and NSC IX [...]