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Search Results for: DTC

Definition Of NRI As Per Direct Tax Code (DTC)

Direct Tax Code (DTC) will bring many changes in the existing tax structure of India which will impact many. Non Resident Indian’s (NRI’s) comes under the scope who will be significantly get impacted with the implementation of DTC. Definition Of Resident Indian As Per Income Tax Act, 1961 According to the Income Tax Act 1961, a person qualifies as a …

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IRDA : DTC Should Allow Low Cover Insurance Policies To Be Eligible For Tax Deduction

Insurance Regulatory and Development Authority (IRDA), the regulator of insurance industry of India. IRDA has requested government of India to make alteration in the provision of Direct Tax Code (DTC) which says insurance policies with low insurance cover will not be eligible for tax deduction. As per the latest draft of DTC, insurance policies which offers life cover of less …

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Check How DTC Will Take Away The Tax Exemptions Available Under Income Tax Act 1961 On Small Saving Funds

Government of India have recently raised the interest rates on small saving schemes to align to the other schemes available in the market. This reform have been made to maintain the interest of investors under these schemes. The small saving schemes includes PPF, NSC, Post Office scheme and MIS are government schemes, where investors get tax concession on there investment. …

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DTC : Direct Tax Code

The DTC is direct tax code, it  is said to replace the existing Income Tax Act, 1961. The Government had announced its intention to introduce a revised and simplified Income tax Bill. If approved, the DTC shall come into force from April 1, 2012, and shall be applicable for the financial year 2012-13. The new tax code would be a vast …

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Delhi Budget 2015-16: ‘Swaraj Budget’ Highlights

Aam Aadmi Party government, led by Arvind Kejriwal has announced Delhi Budget 2015-16 today. Deputy Chief Minister of Delhi, Manish Sisodia presented AAP government’s first budget termed as Swaraj Budget in Delhi Assembly. This budget is for the remaining nine months of the financial year 2015-16. While announcing the budget, he also told that they have taken into account, the expectations of people people in Delhi. While …

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2014 Indian Budget Highlights- Income Tax Changes And Announcements

Here are all the important 2014 Indian budget highlights including income tax changes, direct and indirect tax announcements and other economic decisions announced by Finance Minister Arun Jaitley on 10th July 2014. We have included all important topics including Direct taxes like Income Tax, social and infrastructure projects, FDI, Banking reforms, defense and education budget, minorities, education, rural and urban …

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National Pension System (NPS): The Best Place To Invest For Retirement

Are you thinking to invest a part of your monthly income for your retirement? If yes, then you must also be struggling to get the answer of the question that comes from most of the people i.e “Where to invest for retirement planning?”. If you keep an eye on the financial market and like taking risk then you will find …

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Avoid Last Minute Tax Planning To Claim Deduction Under Section 80C?

Last 3 months of the financial year 2012-13 are left, soon most of the salaried people will start investing there funds into different financial products to claim section 80C deductions. This section offers income tax deduction upto Rs 1 lac to the tax payers who invest there funds in any of the investment option which falls u/s 80C on the …

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