What does this mean for you? Ramalingam Kalirajan explains.
Individuals earning up to Rs 12 lakh annually will not have to pay any income tax under the new tax regime as Finance Minister Nirmala Sitharaman on Saturday gave relief to middle class by raising exemption limit and rejigging slabs. For salaried employees, this nil tax limit will be Rs 12.75 lakh per annum, after taking into account a standard deduction of Rs 75,000.
Finance Minister Nirmala Sitharaman on Saturday unveiled 'transformative' tax reforms that ranged from a simpler income tax law to higher TCS threshold for remittances and income tax benefits for middle class.
The Karur tragedy has exposed the huge gaps in Vijay's understanding of realpolitik, elections and political administration, asserts N Sathiya Moorthy.
"The new structure will substantially reduce taxes on the middle class and leave more money in their hands, boosting household consumption, savings and investment," Sitharaman said presenting what was dubbed as 'reformist' budget for the next fiscal in Lok Sabha.
The next generation GST reforms would 'absolutely' set an economy open and transparent with further reduction in compliance burden and benefiting small businesses, Union Finance Minister Nirmala Sitharaman said on Tuesday.
As the potential threat of a steep 200 per cent tariff on pharmaceutical imports hangs in the air, analysts and industry insiders feel that focus on exports to non-US regions as well as domestic market will increase as a long-term trend. US President Donald Trump told CNBC's Squawk Box in the first week of August that planned tariffs on import of pharmaceutical products to the US could eventually reach up to 250 per cent.
Tax experts answer your budget-related queries
Retirement-focused products that promise certainty can look attractive. The returns are guaranteed, and locking into a fixed rate feels reassuring at a time when deposit rates are declining.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
At the stroke of midnight, live dashboards lit up simultaneously across Amazon India's World Trade Centre headquarters and Flipkart's Outer Ring Road office in Bengaluru. In sprawling "war rooms" at both the companies, executives monitored real-time data streams tracking payment speeds, inventory levels, and delivery logistics as millions of shoppers flooded online platforms.
There are many tax components you need to be clear about and also figure out how to plan your investments to gain maximum returns as well as maximum tax benefits.
A medical insurance policy should always form a part of any individual's financial planning as well as the tax planning exercise.
Tax saving funds can not only help your money grow but can also help you save and plan your taxes. Here's a list of top 10 ELSS funds in terms of returns that they generated during the year ending June 22.
A well-defined asset allocation plan for tax-saving instruments will help you realise not just your tax-planning objective, but also complement your overall financial planning.
While saving tax is important and certainly welcome, it's lot more important to ensure each instrument actually does the job it was originally meant to, says Manish Shah.
Before deciding to go for mutual fund ELSS, here are some points to ponder over.
What many don't realise is that including their spouse and children in their tax planning can enable them to reduce their tax burden legally.
Here's a list of Top 10 ELSS funds in terms of percentage gain in the last one year till September 7, 2007. These funds not only help you make money but also save taxes as per Section 80C.
'We are not asking for incentives, but at least taxation can be aligned such that the rupee tax on consumers remains the same.'
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
United States President Donald Trump on Tuesday (local time) reiterated his opposition to electric vehicle (EV) mandates, criticising government subsidies for Tesla CEO Elon Musk and questioning the broader push for EV adoption in the United States.
'It is crucial to understand that the ultimate goal of your investments isn't to pay lesser tax, but to create long-term wealth for you and your family,' says Satyen Kothari, founder and CEO, Cube Wealth.
Protect your hard-earned wealth with a will -- halt family rifts and secure your children's future. Pranjali Madnani explains how.
Errors in filing income-tax returns frequently lead to scrutiny notices, additional liabilities, or delayed refunds.
Uttar Pradesh's leading export hubs are reeling under the impact of a steep 50 per cent tariff imposed by the US on Indian imports, with exporters warning of job losses, stalled orders and shrinking market access. Industry leaders from Noida, Kanpur and Varanasi said the tariff has put years of painstaking market-building at risk, even as protests and demonstrations erupted in several districts last week.
Do you know you can invest in funds to donate money for a good cause?
Finding the right way to save taxes requires a great deal of planning. Here's a helping hand.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
You tax-saving investments should not only depend on good returns but also take into consideration the various stages in your life to optimise your investments.
Get Ahead home loan expert Harsh Roongta on tax benefits fo availing a home loan.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
The biggest risk for investors isn't the market, but their own minds, biases and emotions often lead to poor financial choices.
'Geopolitically and diplomatically it's a very difficult situation for India.'
'Nearly 10 million people will benefit from the increase in the rebate limit for those earning up to Rs 12 lakh.' 'We expect all that money will come back into the economy in either savings, consumption, or investments.'
rediffGURU T S Khurana answers readers' personal income tax queries.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
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