NEW DELHI: Finance minister Nirmala Sitharaman is set to introduce a bill for a new direct tax law in the budget session, which will focus on simplification of the provisions, doing away with the ones that are redundant and attempt to make the language more layman friendly.The committee tasked with the revision, is deciding if…
MUMBAI: The Budget has tightened the provisions relating to clearance certificates that are required when departing from India. From October 1, a clearance certificate giving a clean chit under the Black Money Act will be required for persons domiciled in India, who are leaving India.At present, under section 230 of the Income-tax (I-T) Act, a…
Public Provident Fund: The Public Provident Fund (PPF) is popular because of its attractive interest rates and tax benefits, especially for small savers. You can deposit as little as Rs 500 or up to Rs 1.5 lakh annually in a PPF account.PPF provides tax exemption under section 80C of the Income Tax Act, and its…
