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Double Tax Avoidance Agreement (DTAA) Guide

  When it comes to money, everyone wants to earn as much as possible, isn’t it? That is why you look for different investment avenues and wealth generation ideas both in India as well as abroad. In fact, foreign investments hold a particular attraction for most individuals. They try and invest their money in foreign countries which promise good return. But what about the tax implications on those returns? Do you know how and where your foreign returns would be taxed? Taxation of returns becomes a problem when two countriesSEE DETAILS

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Senior-Citizen-Saving-Scheme
Income Tax Saving

Contents :- What is the Senior Citizen Saving Scheme? Who is eligible to invest in this scheme? What is the investment limit under this scheme? What documents are required to open an account under the Senior Citizen Savings Scheme? Step-by-step process to open an account under the Senior Citizen Saving Scheme: How much interest is paid on the investments under this scheme? Maturity period and premature withdrawals Tax exemptions under this Scheme? Nomination facility under this Scheme? Other important information regarding the Senior Citizen Savings Scheme? As citizens, we haveSEE DETAILS

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How-To-Open-a-PPF-Account-in-SBI
Income Tax Saving

What is Public Provident Fund? Public Provident Fund (PPF) is a long term investment scheme which is popular amongst the masses. This scheme was introduced by the Government of India to promote savings. It offers an attractive interest rate, high returns along with several safety features. You are eligible for tax exemption under Section 80C Of The Income Tax Act. You can save a maximum of Rs. 1.5 lakhs under PPF in one financial year. Apart from tax rebate, you also get the opportunity to extend the maturity of your PPFSEE DETAILS

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salary slip
Income Tax Learning

Every employee is entitled to receive a salary slip from his/her employer. This is a legal document which acts as proof of your employment. It’s an important document which has all important details about your salary like basic salary, medical allowance, conveyance allowance, deductions, and other information like your employee code, date of joining, and bank details etc. It is imperative that you keep them safe since these are used to compute Income tax payable and also serve as an evidence of your claim to the Government (in case required).SEE DETAILS

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save-income-tax
Income Tax Saving

Earning a 7-figure annual salary is a dream for many. A high salary promises an improved lifestyle, fulfilment of financial goals and, overall, a comfortable life. However, there is another aspect which a high salary brings in its wake – a high tax liability. You know that your tax liability increases as your income increases and so when you earn a high salary, you fall in the 30% tax slab and end up paying a high tax. Though there are tax-saving investments which help in bringing down your tax liability,SEE DETAILS

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No tax on income of Rs 9.5
Income Tax e-Filing

The Interim Budget 2019, since it was announced on 1st Feb is constantly being backfired with questions. In response to the latest one Finance Minister Piyush Goyal said, Now individuals earning upto Rs 9.5 can escape tax liability by taking the advantage of saving schemes. You might have already read and calculated tax saving on income upto Rs 5,00,000, Rs 6,50,000 or Rs 7,00,000. But surprised to come across this new figure of Rs 9,50,000? Yes, this is possible with investing in some of the popular tax saving avenues. LetSEE DETAILS

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Income Tax Updates

What is UIDAI? What is its full form?UIDAI refers to Unique Identification Authority of India. It is established under the provisions of Aadhaar Act 2016 [ i.e. Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016]. UIDAI is a statutory body established by the Government of India vide its notification no 13012/ 64/ 2016 dt 12 July 2016 under the Ministry of Electronics and Information Technology (MeitY). It is entrusted with the objective to issue Unique Identification number (UID) to citizens of India named as Aadhar.SEE DETAILS

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Income Tax Updates

Aadhar being the key document now a day has so much embedded in it to be still discovered. We all have got our UID cards issued and use it as a basic document of identity in all sectors. Whether it is about opening a new bank account, making some financial transaction, getting your passport done, applying some government done and such other endless avenues aadhar is the first and foremost presented document. It gives a unique identity to every citizen of India possessing it. Today, We bring some fun factsSEE DETAILS

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Income Tax Updates

31st March 2019 marks the end of Financial Year 2018-19. But, it also brings with itself a series of very important and crucial financial deadlines. Every taxpayer shall take care of these deadlines and prepare well in advance to avoid penalties and notices from the Income Tax Department.   Last date to File ITR for the Financial year 2017-18 For the Financial Year 2017-18, the last date to file the Income Tax Return is 31 March 2019. After this date, you cannot ever file ITR for F.Y. 2017-18 (Assessment YearSEE DETAILS

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Income Tax Learning

From 1st June 2013 through section 194IA of Income Tax Act a provision was rolled out by Mr. P Chidambaram to deduct 1% TDS on sale of the property to a resident Indian. The property here includes every immovable property like House Property Commercial Property Plot or unconstructed land And all such other properties except agricultural land. To the relief of citizens, TDS needs to be done only on the transactions where sale proceeds are of ₹ 50,00,000 (Fifty Lakhs) or more. When and how much shall be the TDSSEE DETAILS

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