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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

Ramesh and his family are planning for an Australian tour in August 2023, costing Rs.20,00,000 for the entire family. The latest budget proposal requires him to arrange an additional Rs.2,40,000 (20% of the package cost) towards TCS. What is TCS? TCS (Tax Collected at Source) is a sibling of TDS …