E-PaperNotional Rent News
Interim Budget 2019: What’s in it for individual taxpayers?
The threshold limit of total taxable income eligible for a tax rebate has been enhanced to Rs.5,00,000To rationalise the levy and collection of stamp duty on securities, bourse/depository/clearing corp to be vested with responsibility of collecting stamp duty on such instruments and disbursing it to the respective states
6 min read22 Feb 2019Notional rent: How to calculate it and how much tax do you pay?
Notional rent was introduced to discourage taxpayers from leaving houses vacant and create supply of properties for tenantsNotional rent is calculated using the concepts of fair rent, municipal value and standard rent. You are allowed to deduct municipal taxes
3 min read18 Feb 2019Should an individual’s notional income be taxed at all?
One of the basic concepts of taxation is that a person can only be taxed in respect of her real income, and not in respect of some notional income that she could possibly have earned
4 min read21 Oct 2015Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared