Hansini Buch's Blog

The Union Budget 2020 has come up with a new tax regime with the intention to lower  the tax rates and simplify the procedure of return filing. From the Assessment Year 2021-  22 (Financial Year 2020-21) and thereafter, the taxpayers will have the option to  discharge their income tax liability either as per Old Tax Regime or as per New Tax  Regime. As per this amendment, an individual taxpayer has been given the option to  discharge his/her tax liability by opting for any one of these two schemes. But, is this so simple? The fact is, a common taxpayer has so many doubts in his mind  related to this new provision for tax payment. Here, in the following write up, I have tried  to cover these doubts and explain this new provision, in a very simple manner. Q-1: Which two options do I have? A-1: You can choose to pay tax as per any of the following two options i.e. Old Tax Regime or New Tax Regime. Table No. 1:- For tax payers other than senior and super s...

We are in the last quarter of the current financial year, which will end on March 31. This is the high time everyone should take a look at their tax planning and investments. In this article, I am sharing some important points and suggestions, for salaried individuals, especially for those who are in the initial years of their earning career.                                                     In the initial years of one's earning career, savings and investments both are equally important and both should be started as early as possible. There are so many options available, which are advisable for beginners ranging from a simple saving bank account, FDRs, PPF to mutual funds. Being a beginner and new to the field, you may take advice from any senior or obtain  information from electronic media, print media, internet or may take he...

Being the last month of the Indian financial year, March has its own importance. The current financial year which has started on 1st April 2020, will end on 31st March 2021. It is always advisable to have a look at our income, expenses, investments and other financial transactions done from April, 2020 till date. As the March has already started, it is also equally important to do the necessary financial planning to meet the investments and other financial targets before 31st March. In this article, we will discuss about some simple check points to complete in this month, important changes in taxability which are applicable from this Financial Year (FY) and other important points.                                               Simple check points for March: (i) You should have the statements of all your bank accounts, from April till date. You can download the same usin...