India Taxes

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How Much Of Their Award Money Will PV Sindhu And Sakshi Malik Actually Get?

The country is ecstatic with the glory of medals… but no offence, given that we live and breathe taxes, our minds immediately start calculating the actual amount of money that will be credited in the sportswomen’s bank accounts. We cannot help but grapple with questions such as, “Is there any tax deducted from such incomes?” or “Are these people liable for any special kind of tax?” or “Are these incomes exempt?” So let’s get an insight into what actually happens!
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Everything You Need To Know About Tax Saves Via NPS

Taxpayers are always on the lookout for legitimate ways to save more tax. While section 80C continues to remain a favourite, there are ways to increase your tax saves further. Have you contributed to the National Pension System (NPS) in the last financial year? If your answer is yes, your NPS contribution can help you save tax in your income tax return filing this year
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6 Budget Moves That Could Boost Individual Savings And Investment

This year's Budget should introduce some changes in present tax exemptions and deductions to boost the domestic savings rate and encourage people to buy more long-term investment and insurance products. While the increased household savings rate and retail investment will help in boosting the financial well-being of individuals, increased investment by individuals will also help the government and private sector to finance their capital expenditure and cope with FII outflows.
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The Budget Must Strengthen India To Run A Marathon

Whilst debates about what India's Finance Minister should do on 29 February are getting into a frenzy, there is agreement that India's GDP needs to increase by around 10% per annum for at least two decades, as China's did, for India to transform itself. India must complete a marathon, not waste its energy in sprints. Consider three critical subjects that the Finance Minister will have to deal with in the Budget. These are taxation, provisions for building infrastructure and the development of the social sector.
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How To Give So You Get Back: Charities And Tax Exemptions

Your good deed in donating to a charity will not go without reaping you rich rewards, not only in metaphysical terms but also financially. In India, the Income Tax Act has certain provisions which offer tax benefits to donors in order to encourage more philanthropic donations. One such section is Section 80G, with its different sub-sections. However, availing of tax benefits is subject to certain conditions. Here are a few pointers.