An Update on foreign investment in India The Foreign Exchange Management Act, 1999 (FEMA) and the Regulations made or directions issued there under may be referred to. The relevant principal regulations are the foreign investment of Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 issued vide Notification […]
Waiting for last minute investments to save tax ? Worst financial mistakes done as investors rush to make tax saving investments. ELSS funds are top of the ranking of best tax saving options earlier this year. However, though financial planners recommend systematic investing, less than 20% of the total inflows into ELSS funds come through […]
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.