Finance Buddy

TaxBuddy , India's assisted tax filing platform, earlier this month announced its  partnership with Bollywood actor Rajkummar Rao for the ongoing Income Tax Return  (ITR) filing season. This collaboration is another step forward to make  (ITR) filing season. This collaboration is another step forward to make  tax compliance a stress-free activity for Indians. It aims to raise awareness  about the importance of timely and accurate tax compliance. "We are thrilled to have Rajkummar Rao on board as our brand  ambassador ," said Sujit Bangar, managing director of TaxBuddy. "His  relatable persona and commitment to social causes make him the  perfect fit to represent our mission of making tax filing a stress-free  experience for all Indians." Rajkummar Rao, known for his versatile acting skills and social impact,  will be the face of TaxBuddy's ongoing marketing campaigns . "I am excited to partner with TaxBuddy and contribute to their effor...

TaxBuddy , an assisted tax filing platform, earlier this month announced its partnership with versatile Bollywood actor Rajkummar Rao for the ongoing Income Tax Return (ITR) filing season. This collaboration is another step forward to make tax compliance a stress-free activity for Indians. It aims to raise awareness about the importance of timely and accurate tax compliance. TaxBuddy offers a range of services designed to simplify tax compliance, including assisted ITR filing, 1-1 tax planning session with expert, IT notice compliance, GST compliance with expert support. "We are thrilled to have Rajkummar Rao on board as our brand ambassador ," said Sujit Bangar, managing director of TaxBuddy. "His relatable persona and commitment to social causes make him the perfect fit to represent our mission of making tax filing a stress-free experience for all Indians." Rajkummar Rao, known for his versatile acting skills and social impact, will be the face of TaxBuddy's ...

Even if your income exceeds the basic exemption limit, you may not have to pay any income tax. This is due to section 87A of the Income-tax Act, 1961 , which allows Indian residents to claim a tax rebate under both the old and new tax regimes. However, this rebate is only applicable if your total income remains below the specified threshold limit. For FY 2023-24 (AY 2024-25) the threshold is Rs 5 lakh under the old tax regime and Rs 7 lakh under the new tax regime. Under the old tax regime , the maximum tax rebate allowed is Rs 12,500 and for the new tax regime, it is up to Rs 25,000. Filing of income tax return (ITR) is mandatory if your income is above the basic exemption limit or if you have conducted certain specified transactions. You must note that paying income tax and filing ITR are two different things. Due to section 87A tax rebate, you are not required to pay income tax, but you still must file ITR. When are you eligible to claim tax rebate under section 87A? An individ...

Modi 3.0 Budget: The Narendra Modi-led NDA government will present next month its first budget of the third term, which began after 72 members from the BJP and its alliance parties took oath as Cabinet and junior ministers. Nirmala Sitharaman’s finance portfolio has not been changed, paving the way for her to present her 6th full-fledged Union budget in July. She also presented the interim budget in February this year ahead of the Lok Sabha polls 2024. Focus shifts to Union Budget 2024-25 After the new government formation, the focus is now shifted to the Union Budget 2024-25 . Taxpayers are hopeful that the Modi government will give them a tax relief in the upcoming budget. Experts too are of the view that FM Sitharaman would at least make some revision in deduction limits under Section 80C and 80D. The last time the government revised the Section 80C deduction limit was in Union Budget 2014-15, raising the threshold of tax benefit under this Section to Rs 1.5 lakh to Rs 1 lakh then. ...

 #stockmarketupdates #cnbctv18 #sharemarkettoday Financial year-end is here and March 31st is the last date to file updated IT Returns . How your year-end tax planning should look like and what are the key Dos & Don'ts. This week on Smart Money, Sonia Shenoy discusses the complete checklist for filing income tax returns with Mrin Agarwal of Finsafe India and Sujit Bangar of Taxbuddy.com . #taxconsulting #taxliability #moneymindset #moneymanagement #latestmarkettrends #sharemarkettoday #stockmarketupdates #cnbctv18 Source Link: https://www.youtube.com/watch?v=LxcHn0Mjtgc Company Website: https://www.taxbuddy.com/

 As the July 31 deadline for filing income tax returns (ITRs) for the financial year 2023-24 approaches, taxpayers must be gathering documents to ensure they have all paperwork in place. However, individuals with foreign income must take an additional step: Gain a clear understanding of their residential status and international taxation agreements. According to CA Ruchika Bhagat, Managing Director of Neeraj Bhagat & Co, the first step for individuals earning foreign income is to assess their residential status. Notably, Non-Resident Indians (NRIs) need not fret, as income earned abroad isn't subject to taxation in India. However, for resident Indians, reporting foreign income is obligatory, with taxes payable based on applicable slab rates. Bhagat emphasises the importance of Double Taxation Avoidance Agreements (DTAA). She asks taxpayers to ascertain if such agreements exist between India and the country of foreign income. Under DTAA, individuals can claim credit...