The FinTech Hub
Source: Live Mint One of my friends is a dentist and has joined a private hospital. The hospital owner deposits his remuneration every month into his bank account. On submitting his proof for investments for section 80C, he is told that my friend is being treated as a consultant, not a regular employee. Since his…
Source: Live Mint “This appears to be a soft nudge from the tax department, likely targeting taxpayers who may have claimed deductions for fake donations or made errors in their filings,” said Nitesh Buddhadev, a chartered accountant and founder of Nimit Consultancy. “The message provides an opportunity to rectify any mistakes before stricter action is…
Source: Live Mint Income tax calculator: The new tax regime became a default tax regime in FY 2023, which means taxpayers are meant to pay income tax based on the new regime unless they opt out of it. They would do so only if they were told that the old tax regime would lead to…
Source: Live Mint In this world nothing can be said to be certain except for death & taxes. – Benjamin Franklin. Effective tax planning allows salaried employees to optimise their post-tax earnings. A crucial aspect of tax planning for middle class salaried employees is leveraging deductions and exemptions within legal guidelines, defer taxes and take…
