SUPPLY BY BANKS UNDER GST GST will be levied on supplies and not on sale or service. For the purpose of GST, supply shall include: all forms of supply of goods and/or services prepared or confirmed to be prepared for a consideration by a person in the course or furtherance of business, Importation of service […]
Save tax under section 80C using ELSS fund As You aware that this is the last month of the financial year sees investors rushing to save tax by investing in tax saving instruments. You can save tax by investing upto Rs 1.5 lakh in equity linked savings scheme (ELSS) under section 80C of the Income […]
All about House Rent Allowance to save tax House Rent Allowance (HRA) is a common component of their salary structure. Although it is a part of the salary, HRA, unlike basic salary, is not entirely taxable. Subject to certain conditions, a part of HRA gets exempted under Section 10 (13A) of the Incometax Act.
Is your single premium life insurance policy eligible for tax benefits? Life insurance doesn’t necessarily mean that you have to keep paying the premium every year. There are single premium life insurance (SPLI) policies as well, which provide similar tax benefits of protection and savings as the regular premium ones. The term of SPLI policies […]
Can you transfer insurance in your name after buying a pre-owned vehicle? I have recently bought a second hand vehicle. The vehicle owner transfer insurance cover for the car. Can it be transferred on my name now that I have bought the vehicle? In India every vehicle owner mandatory needs to have a motor insurance […]