Tax Saving Investments India

Tax Saving Investments India

Saving on taxes is important for many people, as it allows them to keep more of their hard-earned money. By understanding the tax laws and taking advantage of tax deductions and credits, you can effectively reduce your tax burden and keep more money in your pocket. This can be especially important for those who are on a fixed income or have a limited budget, as every rupee saved on taxes can make a big difference. Additionally, by saving on taxes, you may be able to reach your financial goals more quickly, such as paying off debt, saving for retirement, or building up an emergency fund.

In India, there are several ways to save taxes through investments. Some common tax-saving investments include:

Public Provident Fund (PPF):

PPF is a long-term investment option offered by the government of India. It offers tax deductions under Section 80C of the Income Tax Act.

Equity-Linked Saving Scheme (ELSS):

ELSS is a type of mutual fund that has a lock-in period of three years and offers tax deductions under Section 80C.

National Pension System (NPS)

NPS is a pension scheme offered by the government of India. Contributions to the NPS are eligible for tax deductions under Section 80C and Section 80CCD(1).

Tax-saving fixed deposits (FDs):

Tax-saving FDs are offered by banks and are eligible for tax deductions under Section 80C.

Sukanya Samriddhi Yojana (SSY):

SSY is a government-supported savings scheme for the girl child. Contributions to the SSY are eligible for tax deductions under Section 80C.

It is important to note that the maximum amount that can be claimed as a deduction under Section 80C is INR 1.5 lakhs per financial year. It is also advisable to consult with a financial advisor or tax professional before making any tax-saving investments.

How to Save Tax Other Than 80C?

How to Save Tax Other Than 80C

After the end of each financial year, every person liable to file income tax looks at all the exemptions and deductions that he can claim. For a salaried individual, section 80C is a relief that allows a deduction of up to INR 1.5 lakhs from your total taxable income. Apart from the said section, there are other lesser-known sections available for deduction under the said Act:  

1.Contributions made towards NPS Scheme- Sec 8CCD (1B)

An individual who is eligible for deduction under section 80CCD has made any contribution towards the national pension scheme (NPS). As per 80CCE, the cumulative contribution under 80C and 80CCD cannot exceed INR 1.5 Lakhs. However, an additional deduction of INR 50000 has been allowed towards contributions made under 80CCD (1B)

2.Contributions made towards health insurance- Sec 80D

Under Sec 80D, you can claim the payment of health care premium and medical expenses. An individual can claim a deduction of up to INR 25000 for health insurance premiums paid for himself, spouse and dependent children. However, if any of these are above the age of 60, this limit gets increased to INR 50000. For health premiums paid for parents, an additional deduction of INR 25000 is available. If the parents are of ages 60 or above, the available deduction is INR 50000. A rebate of INR 5000 is also made available for preventive health checkups. 

3.Expenditure on medical treatment of dependents and specific diseases- Sec 80DDB

This section is concerned with any payment for the medical treatment or maintenance of a person with a disability. It includes all expenditure made for a dependent (spouse, children, parents, dependent siblings) suffering from specific diseases, as specified. This amount is subject to a deduction of up to INR 75000.  This deduction is available for the resident individual/ HUF. 

4.Payment towards interest on education loan- Sec 80E

If you have made any payment of interest towards the loan taken for the higher education of self, spouse, dependent children or any student to whom you’re a legal guardian.  Section 80E allows the deduction of such interest paid. The payment must be to an approved institution. There is no upper limit on the amount of deduction. The deduction can be claimed for up to 8 years, beginning with the year you start repaying the interest. 

5.Home loan interest payment for affordable housing- Sec 80EE 

If you’re a first-time house owner, an additional deduction of INR 50000 is available, subject to fulfilment of certain conditions. This deduction is available in addition to the deduction under Sec 24. To avail of this deduction, the value of your property should not be more than INR 50 lakhs & the loan taken should be less than 35 Lakhs.

6.Payment towards rent for those not receiving HRA- Sec 80GG

This deduction is only applicable to those individuals who are self-employed or do not receive any HRA.  Also, neither the individual nor should his spouse nor minor child should have a residential property at the place of his current residence. The amount of deduction is 25% of the total income (excluding long-term capital gains, short-term capital gains under section 111A, Income under Section 115A or 115D and deductions under 80C to 80U). The upper limit of such deduction is INR 5,000 per month.

Conclusion: While calculating tax liability for the financial year, you can consider the above deductions, if eligible. Also, we recommend all our taxpayers start planning for their tax liability at the start of the year. It gives them more flexibility in determining the tax liability for the year.

10 Tips For Tax Saving in 2021

Tips for Tax Saving

In India, the individuals are liable to pay income tax if their income is above 2.5 lakhs. Income tax is payable according to slab rates on an individual varying with their income level. Regular payment of income tax reduces the burden on an individual. People who pay income tax at the end of the financial year face a lot of challenges. If you want to save tax and protect yourself from financial stress, it is necessary to look at the following tips for tax-saving.

1. Provident fund:

The amount of interest on provident funds is tax-free. It takes time of five years before you withdraw the money from provident funds. Before five years, you cannot withdraw any amount from your provident fund. Provident funds help or save us from paying any amount of tax.

2. Equity Linked Saving Schemes (ELSS)

ELSS is an equity-oriented investment option mainly focused on equity funds and other equity-related instruments. It has a lock-in period of 3 years. Any investment made in ELSS funds is eligible for deduction in 80C.

3. Insurance policy:

Money received from a life insurance policy at the time of maturity or receiving the claim amount. The amount of premium is deductible from the taxable income. For insurance policies issued before 1st April 2012, premium up to 20% of the amount insured is deductible & for insurance policies issued after 1st April 2012, premium up to 10% of sum-insured is deductible.

4. Education scholarship:

The amount of education scholarship is tax-free under section 10(16). The amount received either under private or public scholarships is tax-free. Scholarships help students a lot come from a middle-class family. Now they can get scholarships free from tax.

5. Agricultural income:

Any income earned from agricultural activities is exempt from tax. For example- revenue from land, amount through a farm field, the amount received from agriculture products, income from the sale of seeds, etc.

6. Inheritance amount:

The amount received in the form of a will or the inherited money is always tax-free in India. No tax will apply on such an amount. This type of amount can be useful for a person. He/She need not pay any amount of tax on such an amount.

7. Gifts received at the wedding:

In India, weddings are an auspicious occasion for an entire family. It’s even where couples receive a lot of gifts. Such gifts are not taxable. Gifts, cash, cheque, stuff received at a wedding is tax-free. Mostly gift from friends or relatives and are purely a gesture of good wishes and love. They are non-taxable under section 56(2).

8. Expenditure on the treatment of specific diseases:

Tax benefits apply to expenses for treating specific diseases like cancer, Aids, etc. For these kinds of the disease, tax deductions up to Rs 40000 are applicable. For a senior citizen, the amount increases up to Rs 1 lakhs, any incurred expenses in this behalf are exempt from tax in India.

9. Education loan:

Education is the most important key factor in the development of every country. Every person or every family gives more emphasis on good higher education. Pursuing higher education is very expensive & not everyone can readily afford it. Often, individuals need to take an education loan to pay the fees. Education loans help them to pay the amount of the price of that particular institute. Under section 80E of the income tax Act, the interest paid for an education loan is non-taxable.

10. Donation to charity:

Tax can save by donating the money to charities. Money spent on donations or charity is tax-free under section 80G. If you have a valid certification from a charity organization, you will avail the benefits. Donations to charity can also help a person from paying any amount of tax.

To know how you can save your tax, you have to understand your pattern of income. If you want to save money from paying the income tax, invest your money in financial markets or instruments. Following up on the tips mentioned above will help you to a great extent. You should have a clear-cut objective and link the tax instruments to the desired goals. Apart from the mentioned points, there are other ways more that can help you to save on tax, but these were the best ways to save tax, adopt these ways and be free from the income tax.

5 Things to know About ELSS Funds

ELSS Funds

Equity Linked Saving Schemes (ELSS) is an equity-oriented investment option mainly focused on equity funds and other equity-related instruments. It has a lock-in period of 3 years. Any investment made in ELSS funds is eligible for deduction in 80C which makes it very popular. We would be talking about five things you should know about ELSS funds before investment.

ELSS Has a Lock-in Period of 3 Years

The ELSS funds have a lock-in period of 3 years. It means the investors would not be able to withdraw funds/ redeem their unit before three years. Please note that ELSS funds probably have the lowest lock-in among all tax-saving instruments. Also, ELSS is an open-ended instrument so, after the stated lock-in, you can hold it for as long as you want.

ELSS Should Be Held For a Long Term

As told previously, eligible ELSS funds are required to have a lock-in period of three years. However, it is suggestible to consider ELSS funds as a long-term investment option such as 5 to 7 years, if such fund had been performing well. The reason is that equity-based funds give better returns in the long term. So, to gain higher-returns one should see these funds as a long-term trading

ELSS Has Tax Benefits

ELSS scheme is one of the popular investment options in the markets. It provides tax savings while at the same time, provides good returns on investment. While investing in ELSS for saving tax, one must know that such tax deduction is allowed under section 80C of the Income Tax Act. It is necessary to understand that Section 80C is like an umbrella, with many eligible deductions like medical insurance, child tuition fees, etc. An investor can claim deduction up to Rs. 150,000 under this section. So, if a person is investing in ELSS only to save tax, he/she must take in note the other options too and calculate the amount of investment needed. However, if the investment is being made only with the sole purpose of earning one can invest as much as she/he wants with an eligible tax deduction up to Rs 150,000.

One Can Invest in ELSS Whenever She/He Wants

ELSS funds are suited to all kinds of investors who are willing to take moderate risks. It not only helps you to accumulate wealth in the long term but also provides additional tax benefits. It is like hitting two birds with one stone. Apart from the above, it helps you to diversify your portfolio by investing in various sectors. The short lock-in period is also a blessing for investors looking for a way of saving tax.

ELSS Funds Help You to Diversify Your Portfolio

Investors looking for a venue for investing in ELSS reap the benefit of diversification by distributed investment across different sectors and corporates, reducing the overall risks in investment. ELSS funds are said to carry moderate risks. Experts suggest investing across various schemes and holding your units for the long run. It helps to neutralize the overall risk of investment.

We hope this article has helped you to know more about Equity Linked Saving Schemes (ELSS). If you have any doubts or query about ELSS funds, do let us know. We’re happy to help.

What are the Taxation rules of Equity Funds?

What are the Taxation rules of Equity Funds

One thing that comes to every investor’s mind apart from the return and related risk is the associated tax compliances. The last time we checked 2 types of taxes were applicable on sale of mutual funds i.e. capital gains (under Income Tax Act) and dividend distribution tax (DDT). 

Capital Gains

If any investor holds a mutual funds unit of the scheme for a period of up to one year, provisions of short-term capital gain (STCG) are applicable on the sales proceeds. The applicable tax rate on such securities is 15%. So, if you have a unit of mutual funds that you sell within a year, you are liable to pay 15% as tax of the capital gain on sale proceeds for that financial year. 

However, if the investor holds the units of the mutual fund scheme for a period exceeding one year, then the capital gains earned by you are called long-term capital gains (LTCG). LTCG above Rs.1 lakh is taxed at 10% without indexation benefits.

Dividend Distribution Tax (DDT)

On mutual funds, dividend distribution tax is applicable at 10%. Dividend distribution tax is applicable on dividend receipts. This amount is taxable in the hands of the corporates. The corporates deduct the dividend distribution tax before giving any dividends to its investors. The investors do not have to pay anything as it has been already deducted. Therefore, there is no need for investors to pay additional dividend distribution tax on dividends received on their investment. 

Conclusion

It could be concluded that on a mutual funds unit held for 1 year or less, the applicable tax rate is 15% on total gain. Whereas, in cases where mutual funds have been held for more than 1 year, a tax rate of 10% is applicable on total gains. Also, dividend distribution tax is applicable at 10% which is automatically deducted from the dividends and paid by the corporates.

How to Save Tax Without Fresh Investment in FY 2019-20?

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When the month of March is comes to end, the only thing that comes to the mind of a salaried person is Tax Liability and Returns. Tax Liability is a duty levied by the government on your income which aids it to conduct public welfare activities. Tax planning here becomes a necessity as there are a lot Individuals who often pay tax more than they were required. The only reasons are the lack of weakness and knowledge about various deductions and schemes issued by the government in order to help the individuals avoiding excess tax liability. In common parlance, the best time for tax planning is in the starting of the year but people tend to procrastinate till the year end and end up either making errors in filing statements, paying more tax or filing belated returns. 

However the good news is that even if you have been careless towards planning tax the whole year you can still claim certain deductions on expenses that you have incurred in the normal course of your daily routine. Some of the deductions are-

Children’s Education & Hostel Allowance and Tuition Fees (Sec 80C & Sec 10(14))

The most common expense generally an individual incurs is the tuition fees of school, college or any other recognized institution for the purpose of full-time education of any two children of the employee is eligible for deduction.  Please note that any sum in the name of donation, development fees or capitation fees or any other payment of similar nature shall not eligible for deduction. In certain cases where the Children’s Education & Hostel Allowance is provided by the employer, such sum shall be added to the gross income of the individual & deduction of Rs 100 & Rs 300 per month per child upto 2 children shall be eligible.

Medical & Life Insurance (Sec 80D & Sec 80CCC)

Keeping in mind the uncertainty of human life and importance of medical and life insurance, the government has incorporated sums expended in such regards as an eligible deduction. Tax deduction based on health insurance premiums paid for individual, spouse, and dependent children shall be eligible for deduction up to Rs 25,000 per budgetary year.  Similarly, for investments made with respect to life insurance shall be eligible for deductions as per the related provisions. 

House loan and interest (Sec 80E, Sec 80E, Sec 24)

Employer’s contribution to NPS

Every individual whose employer has made contribution under section 80CCD(2) to the notified pension scheme which is not covered within the overall cap of Rs 1.5 lakh for cumulative deductions under sections 80C, 80CCC and 80CCD(1) shall be eligible for the deduction in accordance to the said section. Such deduction under is in addition to the cumulative deduction available under section 80C, where the overall limit is Rs 1.5 lakh, and 80CCD(1B) which is Rs 50,000.

Contribution made towards PPF and other approved schemes

There are a lot of regular investments that a common person invests in for which deductions is allowed under the Income Tax Act. This includes any deposits made with National Savings Certificate, Sukanya Samriddhi Account, Senior Citizen Savings Scheme 2004 (SCSS), NABARD Rural Bonds, 

Equity Linked Savings Schemes (ELSS)

ELSS is tax saving mutual fund that help the investors to save taxes up to Rs 1.5 lakh under Section 80C of the Income Tax Act. ELSS funds are considered ideal for new investors to start their investments in equity mutual funds. They, generally, have a mandatory lock-in period of three years and are among the shortest lock-in period among tax-saving investments permitted under Section 80C.

Standard deduction

A standard deduction up to Rs 50,000 is allowed for all salaried employees. This deduction is is mandatorily available and is considered by the employer while computing tax liability of each employee. The respective deduction is available at the time of filing ITR. However, while planning your taxes for FY 2019-20, you must consider standard deduction as well to compute your total tax liability.

Apart from all the deductions mentioned above there are multiple other deductions under the Income Tax Act 1962 which are available to an Individual.

What is the New and Simplified Personal Income Tax Regime

What is the New and Simplified Personal Income Tax Regime

On 1st February, Smt. Nirmala Sitharaman (Finance Minister of India) in the First Annual Budget of this decade announced the Annual Budget 2020-21 which included a lot of changes in the current tax regime to revive our slow economy. Being one of the best Tax planners in Delhi NCR, we think that this was done to revive the economic slow-down and to battle the investment and consumption-led stress factors.

Being the Top Tax Planning Consultancy in Delhi NCR, we can state that the changes that were proposed aim to stimulate growth, simplify tax structure, bring ease of compliance, and reduce litigations and thereby provide significant relief to middle class taxpayers. 

The New and simplified personal income tax regime proposed is as follows: 

Taxable Income Slab (Rs.)  Existing tax rates  New tax rates 
0-2.5 Lakh  Exempt  Exempt 
2.5-5 Lakh  5%  5% 
5-7.5 Lakh  20%  10% 
7.5-10 Lakh  20%  15% 
10-12.5 Lakh  30%  20% 
12.5-15 Lakh  30%  25% 
Above 15 Lakh  30%  30% 

Everything about the new regime is very exciting but there is one set back of the new scheme, the tax payers in the new regime would not be allowed to claim around 70 of the existing exemptions and deductions (more than 100) would be removed. 

We have gone through the fine print of the Annual Budget 2020-21 and providing the Leading Tax Planning Services in Delhi NCR, we would like to please note that the new tax regime is optional and that an individual has the option to continue to either opt the new scheme or pay tax as per the old regime and avail deductions and exemptions. As per the reports, this bold step of the government would cost them estimated revenue forgone of Rs. 40,000 crore per year. 

In addition to the above, measures to pre-fill the income tax return are initiated so that an individual who opts for the new regime gets pre-filled income tax returns and would need no expert assistance to pay income tax. 

Now in order to reap the full benefit under the new regime, you would now have to calculate tax payable under both the tax regimes, old as well as new. You would have to chalk out your taxable income, deductions and exemptions under the old schemes and see whether it is more than or less than the tax payable under the new regime. If the tax payable under the old regime comes less than that under the new one, please opt for the old scheme only, however if the tax amount under the new scheme is less than that the old one, then go for the new scheme.

Missed ITR Deadline- Here’s What You Should Do

Missed ITR Deadline- Here’s What You Should Do-New

If given a choice, most of us wouldn’t even want to pay tax on the income we earn. But we should. As citizens of India, it is our rightful duty to pay taxes as we are also consumers of the country’s public infrastructure and facilities, and income tax is an important source of revenue for the government. So, it is our responsibility to contribute towards building and maintaining the public infrastructure. Paying income tax and filing income tax returns on time ensure that.

The best time to start planning your tax-saving investments is at the beginning of the financial year. Most taxpayers procrastinate till the last quarter of the year, resulting in hurried decisions. Instead, if you plan at the start of the year, your investments can compound and help you achieve long-term goals. Remember, tax-saving should be an additional perk and not a goal in itself.

But, if you are reading this, it means you have already missed the last date to file the returns for the said A.Y. 2019-20. Being a registered taxpayer with the Income Tax department, a lot of reminder e-mails and text messages are send literally every other day to file your tax returns before August 31, 2019. The government had extended the last date for filing the returns for FY 2018-19 from July 31 to August 31. This was done in a bid to increase tax compliance and incentivise citizens to file their returns without being penalised.

Can you still file ITR?

The answer is yes, even after the extended return filing time period, you could still file your overdue tax returns for the previous financial year, but this obviously comes with a penalty for late filing. The penalty is levied as per Section 234F according to which an individual would have to pay a fine along with the tax liability. Please note that if the taxes have been paid and only filing the ITR is pending, then there will not be any Interest Implications. 

What is the Penalty Amount?

In accordance to Section 139(1) of the Finance Act, if return after due date (belated return) is filed but before December 31, 2019, the penalty will be Rs 5000.  In cases, where the returns are filed on or after January 1, 2020 but before the end of the Assessment Year (i.e March 31, 2020) the penalty shall be Rs 10,000. However, where the declared income is below Rs 500,000, the amount of penalty shall be Rs 1000.  Along with the penalty, you may also have to pay interest at 1% per month or part of the month, on tax due under Section 234A. The interest rate is calculated from the end of the deadline to the actual date of filing returns on a simple interest basis.

How to file belated returns

The procedure to file belated returns is the same as filing the return on or before the due date. The only difference is while filing belated returns you have to select Return filed under section 139(4) from the given drop-down menu.  

Once you have filed your returns, you will have to verify it as well (ITR-V). The IT department only starts processing your returns once you do so. You have 120 days from the date of filing to get the returns verified. You can e-verify the returns via multiple channels, such as the Income Tax website, Aadhaar OTP or net banking channels. Refunds, if any, will be processed only for returns that have been verified. 

Our Suggestions for you

Even though the tax department has a provision for filing belated returns, it is best to adhere to the mentioned timelines. Although the above-mentioned solution might help you file the return every time you are late on filing your ITR, filing returns after the deadline may create some additional issues for you. Some of the issues in late filings are mentioned as below:

  1. Losses under any head of income other than those from house property cannot be carried forward if the taxes have not been filed before the due date. This becomes especially critical for individuals with operating business losses or that of capital gains 
  2. Your refunds could get delayed further. 
  3. The IT Department may take more time in processing your returns
  4. Not only would you incur a penalty plus interest on your tax obligation, it could also bring you under scrutiny 

How does VSRK tax advisory help you with tax planning and filings?

We, at VSRK are a team of highly trained Taxation professionals. We are one of the best Tax Planning Company in Delhi providing Online Tax Advisory Services to all our clients. We are a well known name Tax Advisory Services in Delhi NCR.

What Are The Highlights Of The Budget 2020-21 Related To Direct Tax?

What Are The Highlights Of The Budget 2020-21 Related To Direct Tax

On 1st February, The Finance Minister of India announces the Annual Budget 20020-21 which included a lot of measures to revive our slow economy. This was inclusive of various short term, medium and long term measures.  The following actions were made in Direct Tax:

One of the major changes that were proposed to stimulate growth, simplify tax structure, bring ease of compliance, and reduce litigations and thereby provide significant relief to middle class taxpayers. 

The New and simplified personal income tax regime proposed is as follows: 

TAXABLE INCOME SLAB (Rs.)  EXISTING TAX RATEs  NEW TAX RATEs 
0-2.5 Lakh  Exempt  Exempt 
2.5-5 Lakh  5%  5% 
5-7.5 Lakh  20%  10% 
7.5-10 Lakh  20%  15% 
10-12.5 Lakh  30%  20% 
12.5-15 Lakh  30%  25% 
Above 15 Lakh  30%  30% 

However, there is one set back of the new scheme, the tax payers in the new regime would not be allowed to claim around 70 of the existing exemptions and deductions (more than 100) would be removed. 

However, please note that the new tax regime is optional and that an individual has the option to continue to either opt the new scheme or pay tax as per the old regime and avail deductions and exemptions. This bold step of the government would cost them estimated revenue forgone of Rs. 40,000 crore per year. 

In addition to the above, measures to pre-fill the income tax return are initiated so that an individual who opts for the new regime gets pre-filled income tax returns and would need no expert assistance to pay income tax. 

Apart from the above the following changes are also entailed: 

  1. Corporate Tax: 

Tax rate of 15% extended to new electricity generation companies. 

Indian corporate tax rates now amongst the lowest in the world. 

2. Dividend Distribution Tax (DDT): 

DDT has been removed in the hands of the corporate making India a more attractive investment destination. Deductions will be allowed for dividend received by holding company from its subsidiary. Please note that the dividend would be taxable in the hands of the investors.

3. Start-ups: 

Start-ups with turnover up to Rs. 100 crore to enjoy 100% deduction for 3 consecutive assessment years out of 10 years.  Tax payment on ESOPs has been deferred. 

4. MSMEs to boost less-cash economy: 

Turnover threshold for audit has been increased to Rs. 5 crore from Rs. 1 crore for businesses carrying out less than 5% business transactions in cash.

5. Cooperatives: 

Since cooperatives are an important instrument of growth of an economy, option to cooperative societies to be taxed at 22% + 10% surcharge and 4% cess with no exemption/deductions is given in order to bring parity brought between cooperatives and corporate sector. 

Also, Cooperative societies exempted from Alternate Minimum Tax (AMT) just like Companies are exempted from the Minimum Alternate Tax (MAT).

6. Tax concession for foreign investments: 

For boosting foreign investment 100% tax exemption to the interest, dividend and capital gains income on investment made in infrastructure and priority sectors before 31st March, 2024 with a minimum lock-in period of 3 years by the Sovereign Wealth Fund of foreign governments has been given. 

7. Affordable housing: 

The additional deduction up to Rs. 1.5 lakhs for interest paid on loans taken for an affordable house has been extended till 31st March, 2021. Date of approval of affordable housing projects for availing tax holiday on profits earned by developers extended till 31st March, 2021. 

What are the Tax Facilitation Measures? 

    • Now Instant PAN would be allotted online through Aadhaar. 
    • Under the Finance Minister’s ‘Vivad Se Vishwas’ scheme, with a deadline of 30th June, 2020, to reduce litigations in direct taxes: 
    • Waiver of interest and penalty – only disputed taxes to be paid for payments till 31st March, 2020. 
    • Additional amount to be paid if availed after 31st March, 2020. 
    • Benefits to taxpayers in whose cases appeals are pending at any level. 
    • In order to reducte corruption and bring transparency in governmental operations faceless appeals to be enabled by amending the Income Tax Act. 
    • For charity institutions: 
    • Unique registration number (URN) would be issued to all new and existing charity institutions. 
    • Pre-filling in return through information of donations furnished by the Donee. 
    • Process of registration would be made completely electronic. 
    • Provisional registration to be allowed for new charity institutions for three years. 
    • CBDT to adopt a Taxpayers’ Charter. 

How does VSRK help you with the new tax planning and filings?

We, at VSRK are a team of highly trained Taxation professionals. We are one of the Best Tax Planning Company in Delhi providing Online Tax Planning Services to all our clients. We are a well-known name for Tax Planning Services in Delhi NCR. As per the new scheme Income Tax Payers has the option to choose between the 2 schemes. We step herein and help you to calculate the amount of taxes, applicable deductions and exemptions in order to assist you in tax-planning and filings and saving you the hassles to compare between the two regimes of the Income Tax. Being a Best Tax Planning Company in Delhi, we provide the best tax planning advisory.