I fully agree with the circle member's claim to approach the FM/PM, requesting to remove the senior citizens from taxing 10% on the dividend received on the Mutual Funds. In fact the present level of Rs. One lakh is too small and it should be raised to Rs. 3 lakhs. For the senior citizens the only avenue is the interest from deposits and mutual funds. If they are taxed 10% from their earning, it will put them into trouble since this is the only source of income for them. More over in the budget there is no relief mentioned for the senior citizens. For some of the the items on which deductions were allowed earlier have been summarily removed. The tax structure will benefit only small portion of the tax payers. The FM should reconsider and give relief for the senior citizens. more
I think in this Budget Govt is least bothered about Senior Citizens or rather they have forgotten about Senior Citizens.On one side interest rates are falling down and on the other side dividend has been taxed.In most of the cases in Mutual although we get Dividend but the principle is also reducing.Now Govt should advise Senior Citizens,that where they should invest and have reasonable/respectable life,specially those who are not getting any pension.This Budget has been made by burocrates and their staff who are covered by Very Good Pension Scheme.Govt needs a relook for Senior Citizens. more
Covid-19 has affected almost all citizens and residents of India. People are jobless and businesses are either shut down or in a loss. People are unable pay their EMI's. Loan moratorium relief was ...
Additional transactions to be included under the reporting standards of income tax include: Payment of rent above Rs 40,000. Payment of educational fee/donations above Rs 1 lakh per...
Senior people at loss as Bank FDs intrest less. Now any type of Mutual Funds ,Liquid Funds prone to Stamp Duty. Gains for LTCG. Dividends TDS! SCSS etc Long duration with reduced yields! Is Saving...
CBDT has recently brought out the new form 26AS for ease of filing of Income Tax Returns(ITRs)by taxpayers.The new form is a faceless handholding of taxpayers,to help them with updated financial t...
Need urgent advise from some one please - In my Form 26AS for assessment year 20-21, some entries of TDS has been shown under section 194C by some one with whom I never had any dealing. Moreov...
LIC being a very big insurance company, why not they look into the possibility of making the changes in the existing policies, like change in address, name change, bank details etc. ONLINE. When on...
Dear members, I am Sekar and new to localcircles.com. In 2014 I booked some 5 years fixed deposits with a private bank, due to their higher interest rate promised to me. During matu...
It often happens that people don’t share even the basic financial details with their family members. In case of any untoward incident, the family members are left in the lurch as they are una...
Most of the salaried individuals with gross income of ₹13 lakh or more and non-salaried persons with income of ₹9.5 lakh or more will get to make tax savings if they sign up for the new lower incom...
NRIs living in zero tax domiciles like UAE (Dubai Sharjah & also Bahamas etc) will have to pay tax in India. And now all those who (partly) moved to Dubai recently to evade taxes are stuck.
By Aditi Jain
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