tax planning

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Professional Tax: Everything you must know about it

Do you know what Professional Tax is? Your salary slip may be a Professional Tax deduction every month. Here’s why.

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Best tax-free bonds to invest in 2021

Most HNIs, senior citizens, and other individuals who wish to invest in debt securities are always looking for tax-efficient investment products. Tax-free bonds are one such investment option as they are safe, have a long tenure, pay regular interest, are tradable on exchanges – and most importantly, provide tax-free interest. In this article, we list the best tax-free bonds for investment.

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Legal heirs must still file an income tax return for the dec…

Did you know that income tax returns need to be filed for a deceased person? The returns have to be filed for the income that they earned till the date of their death. This article will focus on how you can obtain the legal heir proof, register on the Income Tax website as legal heir for a deceased person, and file income tax returns for them.

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How tax loss harvesting helps you check your capital gains t…

Tax loss harvesting is a strategy that investors are legally allowed to adopt to reduce their tax liability from selling an investment at a loss, and using this capital loss to offset any taxable capital gains made on equity.

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  • Views : 11798

Donate to COVID-related funds and receive potential tax bene…

While the government and corporates are doing their bit in time of the current COVID-19 crisis, we as individuals too, need to play an active part in helping those around us. This article touches upon the aspect of Individual Social Responsibility (ISR) and how you can assist those around– in cash, kind or just your time. The article also helps visualise a framework you could use to create a long-term plan to support any future relief efforts. Your monetary assistance will not help everyone grow stronger together, you could also take advantage of tax breaks while donating to a host of charitable trusts and relief funds mentioned in the piece.

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  • Views : 98

COVID-19: How government has accounted for NRI residence sta…

The unprecedented lockdown and travel restrictions brought on by Covid-19 forced many NRIs to overstay their visit in 2020. This in turn not only impacted their residential status but also their tax liability. If you’re amongst the people who are in a dilemma, this article can help clear doubts regarding your residential status. It also spells out the vital exemptions offered by the CBDT for FY 2019-20 and various factors to consider so as to take advantage of Double Taxation Avoidance Agreements (DTAAs).

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Winning real money in online games? It's time you learn…

When you win some real money on your favourite games, how much of your winnings can you expect to bring home? Is there an online and offline gambling tax in India? Are online gamers mandated to pay tax on their winnings? Read on to find out.

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  • Views : 23209

Got a salary hike? Learn how to save taxes and increase your…

Learn about how to save on your taxes if your salary increases and falls under taxable slab

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  • Views : 7835

EPF and its tax implication: Know all the new rules

Are you aware of the new tax implications of the Employees’ Pension Scheme? Here are some things to know.

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  • Views : 2419

Tax benefits available if your income is below Rs 5 lakh

Find out how income tax rebate, exemptions, and deductions apply if your taxable income is less than Rs 5 lakh.

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  • Views : 11059