MAKING MORE BETTER IF FUNDAMENTAL CHANGE IN INCOME TAX , WE CAN LINK THE INCOME TAX - WITH SOCIAL SECURITY , BY CREATING ONE MORE CIRCLE , " VOLUNTARY SCHEME " . THE" VOLUNTARY SCHEME " MEANIES FOR - EXAMPLE TAX CALCULATED FOR "A" IS RS 1 LAKE , HE MAY PAY EXTRA 25% MORE TO TAX , LIKE RS 1.25 LAKE AND HE MUST COVER UNDER " SOCIAL SECURITY GROUP" AND IT COULD BE CONTINUE TILL "A" PAYS THE INCOME TAX AFTER THE AGE OF 60/65 YEARS OR IN ANY OTHER CASE OR NATURAL CALAMITY OR UNTOWARD INCIDENT HAPPEN LIKE DISABLED AND CAN NOT WORK ANY MORE IN THAT SITUATION THE ENTIRE CONTRIBUTION TO INCOME TAX WHAT HE PAID TILL THAT DATE THE GOVERNMENT SHOULD PAY THE " INTEREST" ON THAT TOTAL , AMOUNT AND THE INTEREST INCOME MUST BE TAX FREE FOR HIS SURVIVAL TILL LAST more
The writ petition filed by the tax Bar Association before the Gauhati High Court seeking a direction from the respondent authorities to restore the old income tax portal immediately due to non- fun...
Preamble: The object of this write-up is to make Bank customers who are not well informed about Re-KYC, and activating dormant/inoperative bank dmat/account/s and use of C-KYC Many banks ...
Many banks interpret the term ‘total income’ concerning declaration in 15G/H, as any non-professional would and not as expected of them under the IT Act and due to lack of proper unders...
While retirement often comes with financial uncertainty, there are savings products that are safe and ensure guaranteed retirement income. The Senior Citizen Savings Scheme (SCSS), launched in 2004...
RBI’s directions on Auto re-designation of banking a/cs into Senior Citizen Account – No clarification offered Please peruse below the text of an important and relevant portion of ...
Higher exemption limit in tax slabs: 1. For FY 2019-20, income tax exemption limit for resident senior citizen (i.e => 60 years , < 80 years) is Rs 3,00,000, whereas the same for normal ...
As per news item in Financial Express of 10 September 2020 the refund of income tax from 01/04/2020 to 08/09/2020 is given below: • Total Refunds: Rs.1.01 Lakh Crore to 27.54 lakh taxpaye...