Economy: Inflation, IIP Figures and More!!!

Inflation
Inflation figures for Retail and Wholesale moderated as per the latest data released for the previous month. Retail Inflation eased to 19-month low, whereas Wholesale Inflation recorded a 10-month low. The slowness is attributed to cooling off of the Food & Crude prices. Monetary Policy Committee (MPC) reduced the repo rate by 25 basis points to 6.25% in the sixth bi-monthly policy meeting, as the Retail Inflation remained below the mid-term target. MPC has revised the retail inflation estimate to…

National Pension Scheme (NPS) : All Citizen Model

National Pension Scheme (NPS) was introduced by the Government of India in 2004. NPS is aimed at the providing financial security to the Subscribers post retirement. Initially, NPS was available only for the Government Employees. However, in 2009 the scheme was made available for common citizens as well. The scheme is strategically designed to strike balance between return and risk, in order to ensure optimum return while safeguarding the investment against market volatility. National Pension Scheme (NPS) has been discussed…

Income Tax Deductions & Exemptions FY 2019-20

Income Tax Deductions & Exemptions FY 2019-2020
The Income Tax Slab Rates remain unchanged for the Financial Year 2019-2020. However, Individuals with Taxable Income up to Rs 5,00,000/- per annum may avail Tax Credit up to Rs 12,500/- under Section 87A on the Income Tax payable. Thereby, implying that Individuals with Income up to Rs 5,00,000/- will not have any Tax Liability for the Financial Year 2019-20 and Assessment Year 2020-2021. Standard Deduction benefit has been increased to Rs 50,000/- for the Financial Year 2019-20. For FY…

Income Tax Liability Calculation FY 2019-20

Income Tax Liability Calculation 2019-2020
Income Tax Liability calculation for Salaried Individual (below 60 years of age) for the Financial Year 2019-20 has been discussed below, post Budget 2019. The Income Slabs and Rates remain unchanged for the Assessment Year 2020-21 (FY 2019-2020). Standard Deduction has been raised to Rs 50,000/-, Tax Rebate under Section 87A has been increased to Rs 12,500/- from Rs 2,500/-. Thereby, Individuals with Taxable Income up to Rs 5 lacs will not be required to pay any income tax. Income…

Income Tax Slab Rates FY 2019-20 (AY 2020-21)

Income Tax Slab Rates FY 2019-2020
Income Tax Slab Rates remain unaltered in the Interim Budget 2019 for the next Financial Year. However, Tax Rebate U/S 87A increased from Rs 2,500/- to Rs 12,500/-, Individuals with Taxable Income up to Rs 5 lacs will enjoy 100% tax rebate. Income Tax Slab Rates chart above shows the latest Tax rates applicable for the Financial Year 2019-2020 (Assessment Year 2020-21). Health & Education Cess is levied @ 4% on Income Tax payable. Standard Deduction re-introduced last year has…

Budget 2019: Key Announcements

Interim Budget 2019
Interim Budget 2019 is the last budget presented before the Lok Sabha Election slated to be held later in the year. Incumbent Finance Minister Piyush Goyal presented the budget in Lok Sabha in absence of Arun Jaitley. The Budget has echoed similar sentiments highlighted in my post published yesterday on Budget 2019 Expectations. In the Interim Budget speech, the Incumbent Finance Minister highlighted the achievements of the Government in last 5 years. The attempt was made to present a budget…

Budget 2019 Expectations

Budget 2019 Expectations
Interim Finance Minister Piyush Goyal is slated to present the interim Budget 2019 in the Lok Sabha on 1st February (Friday), 2019. Since this is the last budget before Lok Sabha elections in 2019, expectations among the Tax Paying individuals is high. However, Government will look to balance between populism and economic reforms. Interim Budget 2019 is expected to focus on providing relief to the Farmers, Salaried Individuals and Small Businesses. Budget is also expected to address the issue of…

National Pension Scheme (NPS): Government Model

National Pension Scheme (NPS) Government Model
National Pension Scheme (NPS) was introduced for the Central Government Employees (except armed forces) and State Government Employees (as per the date notified by the State Government) joining service on or after 1st January 2004. National Pension Scheme (NPS) comprises of two Funds, Tier-1 & Tier-2, wherein contribution to Tier-1 is mandatory for all Government Employees, whereas contribution to Tier-2 fund is optional for the Subscribers. National Pension Scheme (NPS) has replaced the Government Provident Fund (GPF). NPS is expected…

Technology Evolution: Smart Gadgets For Smarter Living

Smart Gadgets For Smarter Living
Innovations and Technology evolution has come a long way in transforming our lifestyles. Ever since the introduction of smartphones, the smart tech gadgets have slowly but surely been influencing over lives more than ever. Every Year, Tech Industry is introducing new smart gadgets for the end users which is certainly gaining acceptance as lifestyle products among the masses. Leading Tech Giants are ushering innovations into wide range of products in order to draw more users into using such products. Technology…

Small Savings Schemes Interest Rates For 4th Quarter (January-March) Of Financial Year 2018-19

Small Savings Interest Rates Financial Year 2018-19
Government has revised the interest rates on selected Small Savings Schemes for the 4th Quarter of the Financial Year (FY) 2018-19. However, the interest rate on popular Savings Schemes like Kisan Vikas Patra (KVP), Public Provident Fund (PPF) and National Savings Certificate (NSC) remain unchanged for the concerned period. Previously, Government had decided to align the small savings interest rates with the relevant market rates of Government Securities. The rates are now recalibrated every quarter in order to maintain it…