In Budget 2023, a new personal income tax regime system for individual taxpayers was unveiled. Taxpayers will be able to select between the current/old tax regime and the new tax regime starting in FY 2020–21. By choosing the previous tax system, the taxpayer can continue to take use of current tax benefits such house rent…
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Every quarter, the Public Provident Fund (PPF) announces its predetermined rate of return, which is now 7.1%. PPF investments worth up to Rs 1.5 lakh per year are exempt from taxation under Section 80C of the Income Tax Act. Both the yearly interest and the maturity sum are tax-free. The account has a 15-year validity…
Common people have high hopes from this budget for 2022. Actually, due to the creaking economy and rising inflation due to Corona havoc, people are in the hope that the government can give them relief in this budget. In this sequence, apart from giving a growth booster to the economy, there is a possibility of…
Read More “In the budget for 2022, taxpayers will be given extra tax exemptions.” »
