Withdrawal of small IT demands not to entail credit, refund, says IT Dept thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Save long term capital gains tax: Individuals can save income tax by booking profits up to a certain limit on equity shares and equity oriented mutual funds held for more than 12 months. This method is called tax harvesting and it is fully legal in India. Here s how to use this method to reduce your tax outgo and pocket some gains.
Any allowance that compensates you for expenses incurred in the course of your employment is exempt from tax under the Income Tax Act. This is irrespective of whether it is for services rendered in India or overseas. But the allowance must be backed by bills or a declaration from the employee that the money was used for the intended purpose.
With the presentation of interim Budget on February 1, Sitharaman will surpass the records of her predecessors like Manmohan Singh, Arun Jaitley, P Chidambaram, and Yashwant Sinha, who had presented five budgets in a row
Get latest articles and stories on India at LatestLY. Finance Minister Nirmala Sitharaman will set a record by presenting the sixth Budget in a row 5 annual Budgets and one interim a feat achieved so far only by former Prime Minister Morarji Desai. India News | Sitharaman Second Finance Minister to Present Budget 6 Times in a Row.