For the growth and promotion of an economy, a government requires financial resources. And these financial resources are attained through taxation. March is around the corner, so here comes an end to the financial year. It is now time to pay taxes and fulfilling the ethical and legal duty that the citizens of the country are bound to. With the new budget of 2020, a new tax regime has been introduced. So you need to be thoroughly prepared for the tax season. And for this purpose, we are enlisting a few blogs that will give you all the necessary information that you will need.
On the basis of the income tax, each individual is entitled to pay a certain different amount of tax. This amount is calculated keeping in mind the tax slab system. Each different slab has a different tax rate. And the budget of 2020 has brought in a new tax slab along with it, which is inclusive of three different categories of individual taxpayers;
- Individuals who are below the age of 60 years, inclusive of both residents as well as non-residents.
- Senior citizens who are residents and below the age of 80 years but above the age of 60 years.
- Super senior citizens who are residents, above the age of 80 years.
Here is the Income Tax Slab for individuals below the age of 60 years;
The new tax regime has also brought a change in the list of exemptions and deductions. Here is a list of things that you will have to abort while choosing the exemptions for taxes;
Everything To Know About Paying Taxes
From the documents you’ll need to the calculation you might want assistance with, these blogs will give you details about it all. We have covered all the aspects that you might want to be aware of for paying taxes. After all, you would not want to make a mistake and fetch a tax notice. The benefits of good tax planning are unarguably valuable. Therefore you should know the art of how to implement various strategies before you start paying taxes;
- Peoples Tax Blogs – Peoples Tax
- All India ITR Blog – Latest updates to File Income tax online – All India ITR
- India Tax Law: Cyril Amarchand Blogs – India Tax Law
- TAX SAVING, TAX AVOIDANCE, AND TAX EVASION | Tax saving, avoidance, and evasion | Tax2win – Tax2Win
- Income Tax GST Accounting Blog – EZTax
- Treatment of Sales Return in GST – GST Simplified
- How a GST Software Can Boost Your Business! – Bharat Bills
- Taxation | SubraMoney – SubraMoney
- Taxation – Certified Financial Planner In Navi Mumbai | CFP In Mumbai – Fin Vin
- Tax Planning Archives – Basu Nivesh
- Tax Planning – ReLakhs
- More disclosures in the Income Tax return | Company Formation, Income – Tax Scoop
- ApnaPlan.com – Personal Finance Investment Ideas – ApnaPlan
- Indian Tax System – Taxation Structure in India & Current Policies Explained – Aegon Life
- Tax Implications of Stock Incentives – LexStart
- Top Blogs Related to Income Tax – Finology
- TAXATION ON INDIAN CITIZEN – Chartered Accountant India
- STT Calculation Changed For Options On Expiry From September 2019 – Astha Trade
- Financial Planning – Blog – Getting You Rich
- How NRI’s can claim tax benefit under DTAA? – JagoInvestor
- Understand Income Tax: What is Income Tax,TDS, Form 16, Challan 280 – Be Money Aware
- Budget 2020: What It Means When We Have No More Dividend Distribution Tax – Capital Mind
- Dividend Income Taxable – Should you switch to Mutual Fund Growth Option? – Money Excel
- How missing income tax filing deadline will affect you later – Smart Money Goal
- Income Tax – 51 Important Points – Nitin Bhatia
- Tax implications of life insurance – Personal Finance Made Easy – Jain Tushar
Saving Your Taxes Smartly
All of us plan on saving some amount while paying taxes. There are a number of options for income tax savings investment that you can choose from. These tax-saving options can help you save money legally. Mentioned below are some blogs that will give you detailed tips for tax saving to your utmost benefit.
- India’s Top Personal Finance and Mutual Funds Blog – ScripBox
- 15 Ways You Can Save Tax in India – Groww
- Spend Money to Save Money: Top 5 tax deductions under 80C – Piggy
- Know All About Deduction Under Section 80C | FH Blog – Financial Hospital
- Tax deductions under section 80C and 80G | Tax Liability – All India ITR
- FundsIndia Archives: Top Blogs on Tax-savingInsights – Funds India
- 11 tax saving options other than section 80c limit – Money Front
- Tax Saving Options Archives – Wealth Trust
- Tax Saving Options 2019 : Best Tax Saving Options for Salaried in India – India Nivesh
- 2 Wise Investment Options for Tax Saving – Raghunandan Money
- How Section 80C Can Help You To Achieve Your Life Goals – InvestOnline
- ELSS is the best tax-saving option. Here’s why! – 5nance
- The Best Way To Save Tax AND Create Wealth | HAPPYNESS FACTORY – Happyness Factory
- Will the newly introduced rebates affect your tax saving investment? – Himanshu Sheth
- Best Investment Ideas in India and Money Saving Ideas – My Investment Ideas
