Retirement should be a time to unwind following years of diligence. Still, some tax laws apply even in retirement. So that senior citizens can legally save money and plan better, understanding income tax for seniors is essential. Let us briefly consider how this operates in India. Considered a senior citizen is who? Regarding income tax laws, age counts. The government follows this definition of senior citizens: Regarding income tax, both of these groups benefit especially. Senior Citizens’ Income Tax Slabs: 60 to 80 years Under the previous system, the tax slabs for people aged 60 to 80 for the financial…
Author: Anurag Singh
Most salaried Indians have a Provinct Fund (PF) account. Along with tax advantages, this is a great approach to save for retirement. Many, though, are not clear about the tax laws pertaining to PF. Here a provident fund tax calculator can be useful. It simplifies tax planning and helps you avoid surprises at income tax submission. The Provient Fund is what? Employees’ Provident Fund, often known as EPF, is a savings programme. Every month you put a portion of your pay into this fund; your company also makes contributions. This sum increases with interest over time and starts to be…
Particularly for businesses, tax laws in India can sometimes seem unclear. Maintaining order can be difficult whether it comes to GST, income tax, property tax, or another. Taxing authority consulting services can help in this situation. These services enable businesses and individuals to properly and smoothly handle tax issues. What are services of taxing authority consulting? Professional services helping people and companies manage their taxes are tax taxing authority consulting services. These professionals help you to grasp tax laws, file returns, handle tax department notices, and remain legal compliant.They serve as a link between you and the income tax department…
One of the regular payments we pay the government is property tax whether we own a house, apartment, or piece of land. Still, have you ever questioned who pays this tax? We call that individual the property tax collector. Let’s know them and what they do. Property Tax: What is it? Understanding property tax is necessary before we can appreciate the function of a property tax collector.The money you pay annually to your local municipal corporation or panchayat for property ownership is property tax. Roads, drainage, street lights, and other public services in your area are kept running with this…
One often asked question when someone inherits a house, land, or any other valuable asset is regarding capital gains tax on inheritance.Many worry whether they will have to pay taxes just because they inherited a good or asset from a loved one.Let’s see how this operates in India. Describes inheritance. Inheritance is receiving something worthwhile from someone upon their death.It might be anything: a house, land, jewelry, or cash.Parents or grandparents passing on this often to their children or other family members. Should you inherit something, do you pay taxes? The bright news is that inheritance is not taxed in…
Thanks to digital tools, paying taxes and completing returns has become far simpler in recent years. Tax e is one such invention, a term usually used to describe electronic tax systems, platforms, or services enabling people and companies to file online tax returns. Let’s clarify what Tax e refers to in the Indian setting and how it might streamline your tax process. What is e for taxes? Generally speaking, Tax e refers to electronic tax services. In India, it entails using the online systems of the Income Tax Department to: Using Tax e services lets you handle everything from the…
Dealing with notices, filing taxes, claiming deductions—you run a great risk of becoming confused without knowledge of tax laws. A certified tax advisor can be extremely helpful in this situation. Whether your position is salaried, freelancer, business owner, NRI, or another entirely different, having professional tax advice is always wise. Let us know who a certified tax advisor is, what they do, and how they might assist you to better handle your taxes. A Certified Tax Advisor is: A certified tax advisor is a qualified professional with legal knowledge and training ready to counsel individuals on income tax concerns. Chartered…
Not only a buzzword anymore is cryptocurrencies. Many Indians have begun making investments in coins, including Ethereum, Bitcoin, and others. Paying taxes on cryptocurrency gains is one of the biggest obligations that come with profits, though. Let’s streamline Indian crypto tax laws and discuss what you need to keep compliant. Is bitcoin legal in India? India does let trading of cryptocurrencies. You can buy, sell, and keep it even though it is not accepted as legal tender—that of the rupee. Under Indian law, though, your crypto income is totally taxable. Particularly since April 2022, the government now clearly specifies guidelines…
Filing taxes can be perplexing—many forms, shifting regulations, deductions, and deadlines. Getting assistance from an income tax expert can make the entire process simpler and more accurate, regardless of whether you are self-employed, salaried, or a business owner. Let’s examine how an income tax expert can assist you and the reasons why more Indians are choosing to employ one. Who is an Income Tax Expert? An income tax expert is a qualified professional who guides individuals in handling their tax-related affairs by knowing Indian tax laws. They might be qualified financial advisers, Certified Tax Consultants, or chartered accountants (CAs). Their…
If you are looking for high-growth investment possibilities, small cap investing might grab your attention. Starting early and being patient will help you maximize the returns even if it carries more risk. Let’s define small cap investing, find out about its use in India, and ascertain whether it suits your portfolio. Small Cap Stocks: Definition and Characteristics Usually with a small market capitalisation of less than ₹5,000 crore, small cap stocks are shares of companies—many times young, expanding companies with great promise. SEBI targets India specifically: Small cap investing entails making investments in smaller companies. For what reason should one…
