In Budget 2020, the government has also proposed to create the Tax Payer Charter. During the Budget presentation, the Finance Minister Nirmala Sitharaman has pointed out that the government wants to give respect to the income earners. Thus they should not be harassed for the tax issues. Moreover, the government wants to create a good […]
Tax Saving
New Income Tax Slab Rate for 2020
Hurray! Good news for the Individual Income taxpayers. The Finance Minister Nirmala Sitharaman has come with a reduced income tax slab rate for the Individual Tax Payers on 1st February 2020. This tax slab rate is applicable for the Financial Year 2020-21. The Finance Minister in its Budget 2020 has proposed the new income tax […]
What is Union Budget? Significance to You
In the Indian Constitution, there is no declaration about Budget. But Article 112 makes provision of Annual Financial Statement. And this statement is called Budget in a Common language. So, according to the constitution, the Government is bound to present the financial statement. And it will be presented before starting of every financial year. The […]
Meaning of Exemption and Deduction in Income Tax
Generally, people are confused between two terms of Income Tax Act; Exemption and Deduction. They think both are the same as both are the tax benefit. But, it is not so. Exemptions and Deductions are different in nature from each other. In this post, I am explaining the differences between these two with the help […]
Preventive Health Check Up and Tax Deduction
Do you know. the Preventive Health Check Up can give you tax benefit? Most of the people are not aware of this tax deduction. In this article, I will tell you about the tax benefit of the Preventive Health Check up. Let us start with the basic. The Tax Deduction Rule of Preventive Health Check […]
How To Pay Income Tax Online using Challan 280
The payment of Income Tax is an essential duty of every Taxpayer. Because it helps to build the nation. But why should we bother to stand in a queue? You can pay the Income tax online by using the Challan 280. Do you want to know, how is it possible? I will tell you. But, […]