Birthday Rule for Senior Citizens and Very Senior Citizens under Income Tax Act
Income upto Rs. 3,00,000/- is exempted under Income Tax Act for Resident Senior Citizens.
Similarly, Income upto Rs. 5,00,000/- is not taxable for Resident Very (Super) Senior Citizen.
Individual,who is of the age...
Saturday, February 22, 2020
Thursday, February 20, 2020
Taxation of Gift
Taxation of Gift
Gift and Income Tax in India
As a general rule, Gift exceeding Rs. 50,000/- is taxable under - Income from other sources.
Now, what Income Tax Act says about the Gifts:-
- If you are an Individual OR Hindu Undivided Family (HUF);
- You have received any Gift (as...
Wednesday, February 5, 2020
What is NIFTY 50 and How it is calculated?
What is NIFTY 50 and How it is calculated?
- National Stock Exchange Fifty (NIFTY 50).
- NIFTY 50 is an equity benchmark index which was
introduced by National Stock Exchange (NSE).
- NIFTY 50 index is 50 well
diversified company’s stock that reflect the overall ...
Saturday, February 1, 2020
All about the New Income Tax Slabs: The Finance Bill, 2020
All about the New Optional Income Tax Slabs: The Finance Bill, 2020
The Finance Bill, 2020
The optional Income Tax Slabs, applicable for an Individual or a Hindu undivided family (HUF) from 1st April 2020; have been announced in The Finance Bill 2020.
Apparently, it...