Do you remember the days when fresh banknotes used to be stapled together? Often, the notes would get damaged while removing the staples. We have all experienced receiving torn, bad condition, or soiled notes with writings on them when we received change from shops. Some people even resorted to using …Read More »
Can I give you some homework?
We all enjoy the comfort of home and the flexibility of working from it. However, there is one thing that we universally dislike – Homework! We were annoyed with those teachers from our school days, who were giving Homework, particularly assigned over the weekend. Here is an opportunity for all …Read More »
All about a brand-new concept called Social Stock Exchange in India
The good news is that I passed an exam a few days back and became one of the first 50 Social Auditors in the Country! This allows me to explain the new concept such as: What is a Social Stock Exchange? Who is a Social Auditor? And how is it …Read More »
Karnataka Budget 2023 Analysis Part 2
My friend said the State government puts the money into pits, potholes, drainage, garbage, wells, lakes, rivers and sea! A speaker in a seminar said the Central Government’s budget is progressive, and the State Government’s budget is nothing but doling out freebies. Is it true, or how much of it …Read More »
Karnataka Budget 2023 – An analysis
After discussing the enormous numbers in the Union Budget 2023, I am here to take you through Karnataka State Budget 2023. Karnataka State is five times the size of Kerala or 263 times the size of Singapore! It is a large State; it must be grossing up a lot of …Read More »
Budget 2023 – Impact 6: How does the Government spend my taxes?
Where are my taxes going? City roads are bad, and the highways have overcharged tolls. No new bridges are seen. From water to railways, everything is charged. I am unable to find where my taxes are spent! Are you one of those citizens wondering about this? If so, here is …Read More »
Budget 2023-Impact 5: Tax savings through Senior Citizen Schemes
Before going to the main topic of Senior Citizen, let me write on reduced Surcharge. Mr Ramana is a highly paid senior executive in Microsoft India. He is getting a salary of Rs.6 Crore per year. If asked which tax regime benefits him, without thinking twice, you can say New …Read More »
Budget 2023-Impact 4: Tax on the amount received on maturity of Life Insurance Policies
Mr Akasha purchased a Life Insurance policy for Rs.5 Crores with an annual premium of Rs.50 Lakhs. After ten years, in 2033, he will get a maturity value of Rs.11 Crores. What is the taxation on the gain of Rs.6 Crore in the hands of Akasha? If the Insurance policy …Read More »
Budget 2023 Impact – 3: Changes in Capital Gains on the sale of house property
The transfer (or sale) of residential property is subject to taxes in India. The profit (Sale price less purchase cost) is called as Capital Gain. If the residential property such as a house, villa or flat is owned/held for more than 24 months by the owner, it is called as …Read More »
Budget 2023 Impact – 2: New Tax Regime Vs Old Tax Regime; which is beneficial?
All Individual taxpayers invariably know the terms Old Tax Regime (OTR) and New Tax Regime (NTR). A lot of discussions have been done on this topic. If you ask me, the matter is not worth the hype. “Which Regime is more beneficial to me?” is a natural question that comes …Read More »