Years of diligence lead to retirement, the time to unwind. One thing, though, never disappears even in retirement: taxes. Understanding the tax rate on retirement income in India is crucial whether you or someone else in your family is retired. This facilitates better planning and helps to avoid surprises during tax season. Define Retirement Income Retirement income can originate from several sources, including: Depending on the tax rate on retirement income, all of these could be taxed differently. Senior Citizen Taxes: Slabs Senior citizens can get tax advantages from the government: For seniors, the tax rate on retirement income is…
Author: Anurag Singh
In India, cryptocurrencies are no more only a catchphrase. Digital coins including Bitcoin, Ethereum, and others are being bought, sold, and invested in by many. But tax rules accompany the gains as well. If you deal with cryptocurrencies, you should be aware of Indian cryptocurrency tax rules. Is Indian legal cryptocurrency? India does not forbid cryptocurrencies. You can own, buy, and sell it. Still, it is more of an asset than a currency; it is not regarded as such. Indeed, the income from cryptocurrencies is liable taxes. Crypto Income Taxed: How? Any income from trading or transferring cryptocurrencies is now…
India is seeing explosive freelancing activity. Many people are preferring to work on their own terms from graphic design to content writing to coding. But along with freedom comes responsibility—especially with relation to taxes. Knowing the freelance tax rate is rather crucial if you work for yourself. A freelancer is who? Simply said, a freelancer is an independent worker devoid of a full-time employment. From India or elsewhere, you could deal with one or more clients. You count whatever you make as income, and indeed—it is taxable. Is taxable freelance income? Definitely yes. Under Indian tax laws, the money you…
Many invest in property, mutual funds, and stocks hoping for gains. Not all investments, though, yield profits; occasionally you will also suffer losses. The good news is your tax load may be lessened with the capital losses tax rule. Let’s simplify things so we may better understand them. Definitions of Capital Gains and Losses Selling anything—like shares or real estate—for more than what you paid results in capital gain.Selling for less than the purchase price results in capital loss.The capital losses tax rule lets you now modify these losses to lower your total tax load. Kinds of Capital Losses Short-term…
Mutual fund investing is getting more and more common in India. Among a lot of choices, those in the tech industry find the Tata Digital India Fund price appealing. This page is for you if you want to know whether this fund is suitable for you and are interested about it. Define Tata Digital India Fund. One kind of mutual fund are Tata Digital India Funds. It mostly funds technological and digital service related businesses. This covers large corporations including IT companies, online-based businesses, and software providers as well as Tata Asset Management looks after the fund. Why Do Individuals…
Future savings are very vital. Many people center on mutual funds, fixed deposits, or consistent savings. Few people are aware, though, that superannuation tax deduction can help lower tax and save money as well. Particularly if you are a salaried employee in India, this post clarifies what it means, how it works, and why it matters. Superannuation: What is it? One advantage for retirement is superannuation. Said another way, it’s money your company saves for you that you get upon retirement. Usually, it is run out of a trust or a government-approved fund. It keeps silently in the background; you…
Owning a house or land requires regular payment of property taxes. Many people, meanwhile, are unsure of how to check the amount or when it is due. This guide is for you if you’ve ever looked into how to lookup property taxes. Why Should One Search Property Taxes? You verify the following when you lookup property taxes: Every Indian property owner owes their local municipal corporation property taxes. The location, size, and use of the property determine the amount. Why Search for Property Taxes? This explains the need of it: Online Property Tax Research: How To You can quickly lookup…
Many of us eagerly await a little government bonus annually—our income tax refund. If you have ever asked, “Where is my income tax refund?” or “Why is it delayed?” this blog will simplify all you need to know. My income tax refund is what? Should you pay more taxes than necessary for a given financial year, the government returns the excess back to you. “My income tax refund” is the name given to this money.Usually, this occurs in response to: How can I find out whether I should be getting an income tax refund? Should the total tax paid surpass…
You have most certainly heard about capital gains tax if you are an Indian living in Canada or making investments in Canadian assets. When you sell real estate, shares, or another investment, though, how much tax will you pay? A Canadian capital gains tax calculator is helpful in situations like these. What is Canadian Capital Gains Tax? A capital gain is what results from selling an asset—such as stocks or real estate—for more than you paid for it. You pay taxes on some of that gain in Canada.Of your capital gains right now, half are taxable. This implies that your…
Passive income is much loved, thus dividends are a common choice. The major question is, though, whether tax-free dividends are feasible in India. If you have ever gotten money from mutual funds or stocks, you could have questioned whether it was taxable. Let us straighten out the uncertainty in basic terms. Dividends: What Are They? Dividends are part of profits that businesses distribute to their owners. Should you own shares in a company or some mutual fund, you could receive dividends either once or twice a year. It’s a method of income generation free of selling your assets. Exist tax-free…
