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02 Feb '215 Replies
PF taxable from next FY
Continue readingThe Budget 2021 has proposed to restrict tax benefit for the interest income earned on the employees’ contribution to various provident funds for employees whose annual contribution will be more than Rs. 2.50 lakh. This will be applied to all the contributions made from 01st April 2021. “In order to rationalize tax exemption for the […]
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02 Feb '210 Replies
ULIPs may not be attractive!!
Continue readingThe FM has endorsed AMFI’s proposal on bringing tax parity between mutual funds and ULIPs. In the budget 2021 presented on 1st Feb 2021, the government has proposed to remove the tax arbitrage that ULIPs enjoy. The government has proposed that investors can get tax benefits in ULIPs only if the annualized premium is less […]
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02 Feb '214 Replies
Budget 21 Overview
Continue readingNo change in Individual Tax Slabs. An individual taxpayer may select their tax structure between the old regime and the new regime, condition apply. If used new regime, the tax payer has to forego some exemptions and deductions, which may change later. Details of Shares profit / loss, interest from bank and dividend pay-out will […]