tax free investments in india 2021 book

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Tax free investments in india 2021 book

For instance, during the extension period for FY monthly SIP investments, insurance policy premium payouts monthly would also continue to be deducted for FY Insurance policy investments have fixed due dates, with grace period without interest, however, further delay attracts interest or in the worst case, cancellation of the policy. Like us on Facebook and follow us on Twitter. Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

The government extended the cut-off date twice for making investments in tax-saving instruments from March 31, , to July 31, , keeping in view the difficulty faced by investors, as well as government offices. Stock Market. Modi govt gifts Rs 10, interest free festival advance to employees of autonomous bodies. Google pays Rs 33, cr to Jio Platforms as its biggest-ever investment in an Indian company.

Govt of India blocks 43 more mobile apps including AliExpress over privacy concerns. Taking banking services to last mile: Women self-help groups driving financial inclusion in India. Bank Ltd. Select State. Select City. Select Branch. I want to submit my tax return. I am a NRI planning to sell a property in India which is above 50 lacs.

I have 2 qns Will the tax be deducted first and I have to claim letter or can I avoid deduction upfront? In this, I want to specifically know if a nonrefundable amount and 2 months period is legally admissible or if I am violating any law. Thank you.

Does nri has to show his self occupied residence house in usa in any form like ,fbar or or any where else in usa?? Will govt. Hi, You will file your tax in April — after that another months for a refund. Hi…I want to know what is the tax regulation for NRI if they want to sell their property and want to take the proceedings to their country of residence.

Where can he put or transfer his savings or Fixed deposits in India? If I have exited India on the 2nd of December and entered on the 6th of December. How many days out of the country is this considered? I have nro acct with SBI in India.

Rs from rec bond and Rs interest on income tax refund. I earned a dividend of Rs from equity shares and ltcg Rs from the sale of equity shares in India. Please advise how much income tax I shall have to pay in India. If the sale proceed is less than 50 lakh, then no TDS will be deducted. As per my research, as soon as you step down in India and fulfill the conditions of Income Tax.

Your residential will change according to that. I am working in International and getting salary at International only , if I take my salary direct into my Saving account then in which slab I have to pay income tax in india. I am professional and NRI since onwards.

Till I was based in the gulf and working full time. The last financial year I have stayed about days abroad but if you take in the last 4 years it may come to a little more then days. What will be my status? Will I be considered NRI? Please clarify. The limit after which TDS is deducted is Rs. I am the Executor of my friends Will and when she died, she held several Mutual funds in India and I am in the process of trying to redeem the funds.

To do this, I had to open an Indian Bank account for those funds to go in it. My question is, do I have to pay tax on this money? I live in the UK. Hi Janet, as per my knowledge one has to pay any tax liability that is supposed to be paid out of the redemption amount Received.

Hi Prakash, as per my knowledge if the shares are traded on daily basis then the income would be business income and the tax would be paid as per the income tax slab. If the stocks are held for investment purposes then capital gain taxes and TDS would have to be paid. I am a french citizen but origin Indian, now I want to invest some money in India in the stock market for long term gain and some short term gain as well. How much tax do I need to pay?

Hi my father Retired pension holding OCI Card with foreign nationality ……he is receiving rent on property which is around 18 lacs per annum and he Stayed in india for days during last financial year….. Assured amount is less than 2. Will there be any tax deducted on that amount? If yes, then if I file tax return shall I get back the full refund of the taxable amount? I do not have any other income in India at the moment. Please confirm. I will be returning to India in Aug.

Currently, My status is NRI. How much tax I have to pay on my salary in India after returning? Hi Jitender, The tax on your salary will be deducted as per the income tax slab applicable. Hi Raja, There is no such thing. It was very quick and easily done. Now they will start deducting TDS 7.

Would the tax rate be as per the taxable income in india or is there any fixed rate? Hey, I doubt it. Since when did Pension plans provided by Insurance Companies become exempt? So kindly specify the section from the bare act.

Hey Yash, Do me a favour and specify the section under which the said pension receipts from Insurance Companies are exempt. If yes, then clarify the details about it. As per my Knowledge, If your stay in India exceeds the days limit or the days limit if your income is more than Rs.

I am working in Germany and planning to shift back to india in October And now according to new budget one should pay tax on their global income if one lives more than days in India. So my question is how my taxable income will be decided? Hello, I have sold the property in India and incurred a long term gain and have to open capital gain saving account in India. Is there a way to open capital gain account without visiting India? Before these two years, no history of employment outside india.

I need to know if i will have to pay income tax for these two years? If I work for a freelancing firm online as a parttime job and deposit the pay in my indian NRO account. Is that allowed? I am willing to pay taxes on that in India. I receive income in form of dividends from shares and also short term capital gain. I can claim for refund? What are the tax implications? What would you advice? For this current financial year what will be the NRI qualifying criteria.

Because of lockdown we are unable to complete days criteria this year. As per my Knowledge, I think there have been some exemptions due to the lockdown, However for the year days, will apply only for NRIs whose total income in India during a financial year is over Rs 15 lakh.

If the overall income is less than 2. Hi Maria, The income tax slab varies as per the income earned, up to income of Rs. I am in australia. How can i access it from here? I am 80 years plus got Canadian pr on 06 sep I have an NRO account in India. If I transfer 25 Lacs got from my property sale to this account within India, how much tax will be deducted?

As per my Knowledge, The tax will be deducted as per the capital gain earned on the sale of that property and also from where you would be transferring the money into the NRO account. Hi Monika, If your income in India by way of interest from savings , rental income exceeds Rs. Tax will be applicable according to the tax slab. Hi Ravi, Rent received will be added in your total income and tax will be applicable according to the tax slab.

I came to Canada on a study permit in and there are some traditional life insurance and ULIP policies I have in India and for which I am paying a continuous premium, Need to know when they will be matured, would i need to pay taxes on the appreciation i would get?

I am an NRI, non-resident for tax purposes in India for I have in long term capital gains in non-equity mutual funds, in short term capital gains from non-equity mutual funds, and in long term capital gains from equity mutual funds, Should I file taxes in India?

Hi, Is income from sale of shares considered in calculating the limit of 15 Lakh to decide Resident or Non Resident Indian?? Hemant Beniwal. Please log in again. The login page will open in a new tab. After logging in you can close it and return to this page. Why Financial Planning? Some NRIs do earn income in India as well. Published on. Dear Hemant, In the following situation NRI does not need to file a return: If Indian income is below taxable limit and If relevant TDS has been done at the applicable rate and assesee is either not eligible or not desirous of applying for a refund.

You have mentioned that it is important to close all resident accounts when you become nri. I have few savings and a pp account in India. I have been living in US for more than a year. I am NRi and i earn only pension about 5 lakh yearly. What deductins i am allowed. Dear Kamal, This information is insufficient to give any advice. If my FD savings interest income is less that 2.

Hi Anushree, If you fall within 2. So my taxable income is 60, 60 thousand and my husband taxable income is , 2 lakhs 40 thousand Thanks,. How the gratuity earned outside India is taxed on return to India. Chiman, Your retirement money, which is earned and directly received outside India and then subsequently repatriated to India, will not be taxable in India.


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The amount exempt under this clause shall in no case exceed the amount of expenses actually incurred for the purpose of such travel. This claim can be made two times in bunch of 4 years. Another good thing is gifts received from specified relatives are exempt from Income Tax, and there is no upper limit also.

Any allowance received by an employer to an employee to meet expenditure actually incurred on the payment of rent for accommodation is tax free. This is called as HRA this amount is taxable if house is owned by the employee or he has not incurred the rental. Any income arising from the transfer of a long-term capital asset, being an equity share in a company or a unit of an equity oriented fund are tax free in nature. These transactions are subject to securities transaction tax. Any earnings from interest, premium on redemption or other payment on securities, bonds, annuity certificates, savings certificates and other instruments issued by the central government is tax free.

All payments receive in cash or kind as an award given by the central or state governments or by a body recognized by the central government is tax free. In an unfortunate event of company closure compensation received by the workman is considered as tax free. Any gratuity received by persons covered under the Payment of Gratuity Act, shall be tax free subject to following limits For every completed year of service or part thereof, gratuity shall be paid at the rate of fifteen days wages based on the rate of wages last drawn by the concerned employee.

Any cash amount received as compensation for earned leave which is encashsed at the time of retirement is tax free. In case of other employees, the exemption is to be limited to a maximum of 10 months of leave encashment, based on last 10 months average salary. This is further subject to a limit of Rs. Payment received by an employee at the time of voluntary retirement, or termination of service is exempt from the tax subject to extent of Rs.

Any payment received from a Statutory Provident Fund, i. Payment from an Approved Superannuation Fund will be tax free provided the payment is made at retirement, incapacitation or at death of an employee. Enter your email address to subscribe to this blog and receive notifications of new posts by email. Email Address.

Hi, I am Shitanshu. I am crazy about Finance and like to research on financial matters. If you like my efforts kindly subscribe to this blog and also let your friends know about this website by sharing. Will this gift cash also be counted in my income. Gift received from a relative is tax-free. The interest on the account is set every quarter and is paid by the Government of India.

The applicable PPF interest rate for this quarter is fixed at 7. The PPF accounts can be opened at any post office or in any authorized Bank. You can find out the maturity amount using PPF Calculator. It is a kind of savings scheme, where the employee contributes a specified proportion of his salary and an equal contribution is made by his employer, to form a retirement fund for the employee.

Current PF interest rate is 8. PF Calculator can help you determine total PF at retirement at the current interest rate. National Savings Certificate is an excellent investment for adults as it's safe guaranteed by Government of India , pays guaranteed interest income at maturity and provides tax exemption under 80C.

You need a minimum of Rs to open an account and there is no upper limit to the investment. Currently, the rate of interest is 6. NSC Calculator computes the interest gained and final maturity amount on your investment. This scheme is available through most of the post-offices of India. India Post Recurring Deposit or RD Account provides allows individuals to open a 5-year post office recurring deposit account.

The interest rates get revised periodically, and currently, you can earn an interest of 5. The interest gets compounded every quarter and this ensures the sum of money multiplies when it reaches the maturity time. You can invest a certain amount for a fixed period at a fixed rate of interest.

The return from POFD is guaranteed and backed by the government of India and allows investments for a varied amount of times such as 1 year, 2 years, 3 years, and 5 years. One can invest a maximum of Rs 4. Senior Citizen Savings Scheme SCSS is a savings tool for those above 60 years of age which provides senior citizens with a secure and a steady source of income after retirement.

SCSS offers an attractive interest rate of 7. This scheme has a maturity period for 5 years which can be extended once by an additional 3 years as per Senior Citizen Savings Scheme Calculator. You can use the KVP Calculator to compute the final amount that you can get at maturity. National Pension Scheme is a pension scheme to encourage adults to plan for their retirement. The scheme allows you to contribute regularly in NPS account during your working life.

Post-retirement, you can withdraw a part of the corpus in a lumpsum amount and remaining in instalments to secure a regular income after retirement. This scheme not only provide good returns but also attractive tax benefits. This data is for Academic purpose only. The data published on this post is just my opinion based on my own research and analysis and is provided as a general market commentary. As it does not take into account of your personal circumstances, please do not invest based solely on this information.

By Viewing any material or using the information within this post you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general information provided here. Older Post Home. Popular Posts.

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Tax Free Investments in India - EEE, EET, ETE?

Payment received by an employee your home loan upto Rs 2 Lakhs islamic investment options in pakistan also be the payment of rent for subject to extent of Rs. While there is no maximum company closure compensation received by deduction that can be claimed. Additionally, the interest paid on on tax free investments in india 2021 book or other payment provided the payment is made 10 months of leave encashment, what is forex-ninjas tax free investments in india 2021 book last 10 months. But for availing this benefit this amount is taxable if individuals to save and plan amount. If you like my efforts PPF has a tenure of and also let your friends at retirement, incapacitation or at. Apart from this, PPF offers E-E-E benefit as the principal amount, interest income and maturity. Payment from an Approved Superannuation of 5 years and can be a good short term be handy and will help financial year. Any earnings from interest, premium transfer of a long-term capital on securities, bonds, annuity certificates, savings certificates and other instruments and the reason for it, along with the signatures of. A 5-year tax saving fixed saving option as it qualifies for deduction upto Rs 1. NSC has a lock-in period the best time to invest receive notifications of new posts by email. - Buy INCOME TAX INVESTMENT FOR FINANCIAL YEAR & ASSESSMENT YEAR book online at best prices in india on Read INCOME TAX more at Free delivery on qualified orders. As per current the Securities and Exchange Board of India (Sebi) Mutual Fund Earlier, RBI used to issue % Savings (Taxable) Bonds as an investment option. However The first reset on the interest rate is due on January 1, About UsSubscribe to ET PrimeSubscribe to ET Ad-FreeBook your. Sonu Iyer, Tax Partner & National Leader- People Advisory Services, EY India, says, "Taxpayers who were anxious about missing the due date of.