Budget 2016 had a nasty surprise for all the salaried class. In his Budget speech Finance Minister said that in order to give level playing field to pension products, the 60% corpus at maturity (for both NPS & EPF) would be taxed according to individual tax slab. This rule was good news for NPS subscribers […]
Every Union Budget introduces or alters taxes to encourage/discourage certain consumption. This in turn impacts the prices of products and services that we use in our daily lives. The post looks at the impact of budget 2016 on common man’s budget. Costlier in Budget 2016: Krishi Kalyan cess on Service Tax: Budget 2016 has introduced
We are releasing the eBook on Tax Planning for FY 2015-16. This is a short 44 slide power point presentation which gives the details of tax saving sections and investments available to individual tax payers. The eBook covers the following income tax sections available for individual tax payers: [button link=”https://apnaplan.files.wordpress.com/2018/02/how_to_save_tax_for_fy_2015_16.pdf” size=”large” style=”download” color=”darkcyan” text=”light”]Download Tax Planning
We have already discussed the impact of Budget 2015 on Income Tax and TDS. This post covers other aspects which would directly or indirectly impact us. 1. Wealth tax abolished. 2. The highest tax slab has increased to 34.6% from 33.99% due to 2% increase in cess for super rich (people with annual income of
19 Ways Budget 2015 Impacts our Spending, Saving, Investment and Taxation Read More »
Along with changes in income tax, budget 2015 has also made some changes in TDS (Tax Deduction at source) for Fixed Deposit, Recurring Deposit and EPF (Employee Provident Fund). The post discusses these changes: TDS on Recurring Deposit (RD) Until now recurring deposit was not subjected to TDS. Budget 2015 has amended this and now
