Budget 2021: Bring Covid Rebate against Income tax

Budget 2021: Bring Covid Rebate against Income tax

Rebate in income tax is a direct discount from tax. Suppose if your gross tax liability is Rs. 10,000/- and you have claimed a rebate of say, Rs.5000/-, your net tax liability shall be Rs.5000/- only. The income tax law has always favoured tax rebate for small...
UltraSafe Savings Schemes of the Central Government

UltraSafe Savings Schemes of the Central Government

Ultra-Safe Savings Schemes of the Central GovernmentIn times like Covid-19 crisis, when financial markets and their future looks uncertain, we look for safe ways to keep our money. In such pursuit, we tend to trade the growth of money for the safety of our hard-earned...
301 is the Cost of Inflation for FY 2020-21

301 is the Cost of Inflation for FY 2020-21

Government notifies Cost Inflation Index (CII) for F Y 2020-21 at ‘301’As per the Income tax Act, the Central Government is empowered to notify the cost inflation index for every year. Accordingly, it has notified the CII for current financial year 2020-21 at 301. It...