A deduction is available under Section 80DD of the I-T Act to a resident taxpayer, if he has incurred expenses for medical treatment, training, and rehabilitation of a dependant parent, with disability
2020 Guide To Cryptocurrency Taxes
After adopting the Insolvency and Bankruptcy Code, 2016 (IBC), India overhauled the insolvency and bankruptcy law. The IBC is a landmark statute and a transformation through India's insolvency regime.
A new tax law would require a single taxpayer to ignore 70 tax exemptions and deductions. These include the following deductions: section 80C for cumulative Rs 1.5 lakh reported by expenditure in specified financial products, section 80D for health insurance premiums charged, the 80TTA excluded from interest on savings deposits from a bank or post office, etc.
As finance minister Nirmala Sitharaman prepares to present her second budget �this one comes amid projections of growth slowing to 4.8 percent in fiscal terms by the International Monetary Fund there are five ways she can help to stimulate the economy
Union Budget 2020 needs to launch about proposed measures to make insurance policies higher affordable and consumer-friendly, insurance companies have requested. According to the Indian Insurance Regulatory and Development Authority (IRDAI) annual report, insurance penetration of India remains one of the lowest at 3.70 percent in 2018.
The Indian economy is not in the best shape right now, making the second budget of Nirmala Sitharaman even more significant. It needs to announce measures to boost the economy and appease growing sectors of society.
Prime Minister Narendra Modi of India has taken a strong interest in preparing the forthcoming government budget in order to stimulate growth in Asia's third-largest economy.
India raises nearly 14.5 Lakh Crore, 34 percent of which is an indirect tax.� Indirect taxes include service tax, customs duty, VAT, etc. Taxes paid. This applies to the Indian government's partial collection of taxes.
The CBIC frozen tax credits of approximately Rs 40,000 crore, as reports did not match, exposing the alleged fraud of nearly 2,000 entities, except in cases where returns were not filed. CBIC president John Joseph said at an event on Monday last week, the indirect tax arm of the income department blocked the credits within four hours.