Understanding Section 194D of the Income Tax Act is essential for insurance agents and brokers in India. This provision governs how tax is deducted at source (TDS) on insurance commissions, ensuring all such payments are properly recorded and taxed. Since its introduction in 1973, the TDS framework has undergone several changes. The latest update, announced […]
India’s equity markets are entering a new era with the launch of T+0 settlement, a system where trades are settled on the same day they are executed. This landmark change promises to make the market faster, more liquid, and more efficient. The country’s stock market journey dates back to the 19th century, with the Bombay
Section 80C of the Income Tax Act, 1961, is one of the most popular tax-saving provisions for individuals and Hindu Undivided Families (HUFs) in India. It allows taxpayers to reduce their taxable income by up to ₹1.5 lakh per financial year by investing in specified financial instruments. Apart from lowering tax liability, these investments can
Many salaried professionals in India wonder whether earning ₹10 lakh a year can be completely tax-free. The short answer is no. Under the latest income tax rules, including changes introduced in the Union Budget for FY 2024-25, a ₹10 lakh income falls into a higher tax bracket, making it taxable. However, with the right planning
