Do Not Miss These While Filing ITR – FFC episode 43
ITR filing due date is fast approaching. All taxpayers are required to file their ITR by 31 December 2021. In the rush to file ITRs by the due date, many taxpayers may miss out on reporting some income and that could get them into trouble with the income tax notice.It is advisable that taxpayers should be extra careful while filing their income tax returns. Our video will take you...
Set-Off Of Capital Gains – FFC episode 42
You can set off your losses from property sale against long-term capital gains (LTCG) from shares. It is now perfectly legal to set off tax liability across asset classes. A tribunal has held that LTCG from one asset class could be set off against another and such tax planning are undertaken to reduce the tax burden is legal. To know about LTCG in shares and can how it be set...
Different options to invest in Gold – FFC episode 41
Gold is placed in high regard as an investment. Due to some influencing factors such as high liquidity and inflation-beating capacity, gold is one of the most preferred investments in India. Gold investment can be done in many forms like buying jewellery, coins, bars, gold exchange-traded funds, Gold funds, sovereign gold bond schemes, etc. Once you have made your mind to invest in...
Understand form 26AS – FFC episode 38
Form 26AS is a statement of tax credit generated by the Income-Tax Department based on your PAN number for every financial year. It contains details of the tax deducted on your behalf by employers, the bank/institution in which you have an investment and the sale/purchase or rent of the immovable property. To get an in-depth idea on form 26AS from our taxpert, do watch our...
Different types of Retirement and how to plan for it – FFC episode 37
Retirement planning means preparing today for your future life so that you continue to meet all your goals and dreams independently. This includes setting your retirement goals, estimating the amount of money you will need, and investing to grow your retirement savings. Every plan for retirement is unique. To know different types of Retirement and how to plan for it, we recommend you to...
Tax Benefits under New Tax Regime – FFC episode 35
As we know that Taxpayers can choose between two income tax regimes – Although the new, concessional tax regime offers lower tax rates as compared to the old regime, by opting for the new regime the taxpayer will have to forgo most tax deductions and exemptions but there are some value added Exemption and Deduction which can be claimed. Refer our video to know the Tax Benefits...Old vs New Tax Regime. Which one should you select? FFC episode 34
The old regime is the one that existed all these years which comes with allowed deductions and exemptions. To know new and old tax regieme in detail and which one should you select watch our video. Also read – Capital Gains Tax on Sale of Property – FFC Episode 30 A financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which...
NRI Taxation and Latest Amendment on Residential Status
NRIs need to carefully consider the total Indian income and plan their travel itinerary based on the amendment for their period of stay. The positive aspect is that in most cases, NRIs can continue to visit India for up to 181 days in the financial year and even in other cases where the period of stay in India is 120 days up to 181 days (and also for 365 days or more in preceding 4 years) or...
How to File your ITR on New Portal? – FFC episode 31
The Income Tax filing season has started and Do you also wish to file your ITR on your own? This year, the government has launched a new e-filing portal to make tax filing Faster, Easier & Efficient. Our latest Friday First Cut Episode will guide you through the complete process on How to File your ITR. If you are a Salaried Individual along with a Bank Interest Income...