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CBDT notifies new ITR forms for AY 2021-22, filing process unchanged

CBDT notifies new ITR forms for AY 2021-22, filing process unchanged

Only the bare minimum changes necessitated due to amendments in the Income-tax Act, 1961 have been incorporated in the forms, CBDT said in the notification for the new ITR forms

Source Business Today | 02/04/2021


 Life insurance: How to choose a term insurance plan

Life insurance: How to choose a term insurance plan

A term insurance cover should be in place at least till retirement, or till the time one has dependents or liabilities like loans

Source Financial Express | 02/04/2021


Your Money: Using life insurance as a retirement plan tool

Your Money: Using life insurance as a retirement plan tool

Both annuity plans and term insurance plans can help you to plan your retirement as there are different variants available in the market

Source Financial Express | 01/04/2021


 No Income Tax on salary income of Non-Residents Indians in Gulf countries! Sitharaman says it is exempt

No Income Tax on salary income of Non-Residents Indians in Gulf countries! Sitharaman says it is exempt

Finance Minister Nirmala Sitharaman on Thursday said salary income earned by non-resident Indians in Gulf countries would continue to be exempt from tax in India.

Source Financial Express | 01/04/2021


OCI Card Holders No Longer Required to Carry Old Passports for India Travel, Diaspora Welcomes Move

OCI Card Holders No Longer Required to Carry Old Passports for India Travel, Diaspora Welcomes Move

People of Indian origin and the Indian diaspora having Overseas Citizens of India (OCI) cards are now not required to carry their old, expired passports for travel to India, as required earlier, according to a government notification that has been welcomed by members of the community.

Source News 18 Business | 30/03/2021


Income Tax Rules Are Changing from April 1, Here's a Look at New Norms

Income Tax Rules Are Changing from April 1, Here's a Look at New Norms

April 1 will mark the beginning of a new financial year and will bring a slew of income tax changes. Some of the changes were announced by the Union Finance Minister Nirmala Sitharaman while presenting the Union Budget 2021 in February. Here is a list of changes which will be introduced from the coming financial year.

Source News 18 Business | 30/03/2021


Financial planning: Six tips to help you face any financial crisis

Financial planning: Six tips to help you face any financial crisis

Countless people are confronting new financial realities a year after the first of the Covid-19 lockdown announcements. The past year may not have been equally difficult for all of us, but it has surely forced each one of us to rethink our financial priorities. With a resurgence of cases in many regions and vaccinations still in the early phases, the Covid-19 pandemic is far from over.

Source Financial Express | 30/03/2021


Why the rich must make life insurance an integral part of estate planning

Why the rich must make life insurance an integral part of estate planning

“I know these premiums would pinch us a bit, but both of us know that in case something happens to me in the next few years, our current savings are not enough to take care of Varun’s expenses for the rest of his life.” Madhavi could clearly recollect her late husband Rahul’s exact words while filling his life insurance claim form.

Source Money Control  | 30/03/2021


Income Tax Alert! Employees Provident Fund, LTC to ITR Filing rules – 10 big changes to know before April 1

Income Tax Alert! Employees Provident Fund, LTC to ITR Filing rules – 10 big changes to know before April 1

Income Tax Changes: March 31 is an important date for income taxpayers in India as a number of changes are going to kick in from April 1.

Source Financial Express | 28/03/2021