In today’s society, loans may be used for various purposes. It may be used to establish a new business, buy a new property, finance a big event like a wedding or simply plan a vacation. Let us discuss the many kinds of loans available on the market and the features that make these loans valuable …
Month: July 2022
The finance ministry has clarified that an employer must deduct TDS for FY 2020-21, from a worker’s salary on the premise of the brand new decrease tax regime if the employee opts for it and informs the employer of the identical. It’s additionally clarified that after the regime is opted by a person at the beginning of the financial year, then such a choice can’t be modified in the course of the financial year as far as TDS by the employer is concerned. Nevertheless, the choice will be modified at the time of income tax submitting.
The premium paid in direction of medical health insurance insurance policies qualifies for deduction underneath Part 80D of the Income Tax Act. The profit is on the market to people on medical health insurance premium paid for self, partner, kids, and parents. Importantly, it doesn’t matter whether the youngsters or dad and mom are dependent on you or not.
International tax updates due to COVID-19 as we all know what is happening in the current world right now. The COVID 19 circumstance is changing quickly and correctly and the priorities of governments, health authorities, and businesses are as of now the health and welfare of their residents, communities, and employees respectively.