Tax

New TCS Rates on Remittance Post Oct 01, 2023

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New TCS Rates for Remittance will apply from Oct 01, 2023. Outward Remittances of beyond INR 7 Lakh, will attract a TDS of 20%. The previous TDS Rate was 5%. (Except payments made for Education or medical purposes). So let’s check the details of this new rule of 20% New TCS Rates on Remittance internationally.Read More

Understanding Standard Deduction in Income Tax

by Madhupam Krishna

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Anything which saves Tax is welcome… isn’t it? Standard Deduction is one such deduction and we never think of it. Do you know before 2018, it went missing for few years and again came back in 2018? Why is standard deduction given then? What is the current standard deduction limit and who can avail standardRead More

Tax Saving Strategies for NRIs

by Madhupam Krishna

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Tax is an obligation – to pay on time and pay right! Matters also get complex if you are an NRI and not in touch with India. But no problems… you must have checked our previous article on Tax Planning by NRIs. We maintain and keep this updated with the new changes. Today we willRead More

Online Money Games

by Madhupam Krishna

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Making money easily is a dream for everyone. Everyone wants to enjoy a bit and make money to upgrade their Living standards. Online Money Games or games played on apps where luck is involved are recent means to earn illicit money. But these may turn out to be illegal activities like gambling, betting, wagering etc.Read More

Investing in Name of Parents – Key Benefits

by Madhupam Krishna

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If you are in a high tax bracket and genuinely helping your parents in their finances, you can save some tax by following small tips. Investing in Name of Parents will help to lower your tax burden. Investing in name of parents also allows you to help parents by gifting those income or health benefits.Read More

What is Grandfathering Clause?

by Madhupam Krishna

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Before 2018, we all knew long-term capital gains in equity were tax-free. But now – they are taxed at 10%. In a simple situation what if someone’s date of purchase of a certain equity MF unit is in 2015? Now, if this person sells in 2022, will his gain be calculated on his original priceRead More