Category: Income Tax

Cost Inflation Index for 2016 and last 30 years: Updated

Cost Inflation Index (CII) is an Index which finds its utility in the income tax act at the time of computation of Long Term Capital Gains to be disclosed in the Income Tax Return. The Cost Inflation Index is issued...

Read More
post-Surcharge on Income Tax – Latest Rates (with Examples)
Surcharge on Income Tax – Latest Rates (with Examples)

Surcharge is levied on Income Tax and is levied if Income is more than Rs. 50 Lakhs in case of Individuals and Rs. 1 Crores in case of Companies. Different rates of surcharge are applicable for different categories of taxpayers...

Read More
Income Tax Slab Rates for 2018-19 & 2019-20 in India – Updated

Budget 2019 Update: There is no change in the Income Tax Slabs for the Financial Year 2019-20 and the Income Tax Slabs which were applicable for Financial Year 2018-19 would continue to be applicable. The only difference is that the...

Read More
Income Tax Returns revised after Demonetisation may come under Scrutiny

On 8th Nov. 2016, the Indian Govt demonetised the Rs. 500 and Rs. 1000 notes in order to curb the flow of black money in the system. The Govt has released the new currency notes and all old notes have...

Read More
Email id’s of 74,000 CA’s in India hacked by Legion Group – News Report

He is an 18-year-old somewhere in India. Or so, he says. And he is part of Legion, the hacker group that has got India’s attention after several high-profile email and Twitter hacks, and some extensive data dumps. On Wednesday evening,...

Read More
Tax Planning: Top 7 ways to save Tax legally in 2018-19

The Indian Income Tax Act allows for certain deductions which can be claimed to save tax at the time of filing of Income Tax Return by all classes of Taxpayers (i.e. Salaried Individuals, Professionals, businessman etc). These deductions which help...

Read More
MEIS Scheme: Govt incentives for Export of Goods – 2 to 5%

The Merchandise Export from India Scheme (MEIS Scheme) is a newly launched scheme launched as a part of the new Foreign Trade Policy and is applicable from 2015 to 2020. This new scheme replaces the 5 similar incentive schemes available...

Read More
SEIS Scheme – 5% Incentives by Govt to Service Exporters

In order to encourage exports, the govt provides certain benefits to exporters. These benefits are provided to both Service Exporters as well as Exporters of Goods. In this article, we would mainly be discussing about the benefits available to Service...

Read More
Equalisation Levy @ 6% on Digital Ads from 1st June 2016

The Digital Space has grown very rapidly in the past few years and is expected to grow substantially in the next few years. The biggest beneficiaries of this rapid growth in the Digital Space are companies earning through Digital Ads...

Read More
Income Tax Benefits of paying Insurance Premium in India

There are several types of insurance policies which can be purchased by an individual however,  insurance policies are broadly be classified into two categories i.e. General Insurance Non-General Insurance In this article, we would be discussing the income tax benefits...

Read More