Day: January 6, 2024

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DEPOSIT LAST INSTALMENT OF ADVANCE INCOME TAX BY MARCH 15 TO AVOID INTEREST IMPLICATIONS 📆

⬛ Every individual/company/firm/HUF whose net tax liability on the estimated income exceeds INR 10000 for the financial year shall be required to deposit advance tax.

⬛ The deposit of tax shall be in four instalments on the estimated net tax liability (after reducing taxes deposited/deducted/collected) which is calculated on the estimated income (after reducing deductions available under sec. 80C, 80D, etc.)

⬛ As per the Act, 100% of the estimated tax liability of the financial year (FY 2023-24) shall be deposited by March 15, 2024.

⬛ Additional interest of 1% per month shall be levied (section 234C) on the net tax liability on delay in payment and another 1% per month (section 234B) for non-payment of advance tax.

⬛ For resident senior citizens not having income from business & profession, advance tax shall not be applicable.

⬛ Deposit advance tax timely not only to avoid interest implications, but also to become a responsible citizen of the country. 🇮🇳

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Income Tax & Estate Planning Services
Ashutosh Financial Services Pvt. Ltd.
•Investments •Insurance •NRI Services •Income Tax & Estate Planning
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View Blogs in English NRI Services

🌐 Avail Comprehensive Indian Financial Information for tax return filings in the USA or Canada as an NRI 📊

✅ NRIs residing in USA 🇺🇲or Canada🇨🇦 need to report their Indian Incomes & Assets in their Income Tax Returns along with other local USA or Canadian Incomes as per tax laws of respective countries. However, they are eligible to obtain tax credits for the taxes paid in India under the DTAA (Double Taxation Avoidance Agreement) while settling the final tax liabilities. 📑 ✅ We are pleased to provide you with a Comprehensive Indian financial information summary essential in USA or Canada to assist you in meeting the necessary requirements for tax filings 📝 in USA and Canada, ensuring compliance with relevant regulations, and facilitating a smooth process with the deadline for tax filings by April in USA or Canada. 🗓️ ✅ Our report includes all details of your Indian incomes from various sources as well as assets as per the respective tax laws of USA or Canada, meticulously converted into the respective currencies (USD or CAD) for the corresponding tax year which runs from January to December. It also includes the amount of Indian taxes available for claiming credit under the DTAA. 💰 ✅ It is a very supportive databank which makes it very convenient for the NRI to incorporate all Indian financial transactions in a seamless manner as per the tax return formats of respective countries. 🌏 ✅ Exchange of Financial Information between tax authorities of countries has become very common these days with the advent of technology and rising vigilance of tax administration in all countries. 🔄 Contact us to avail this report related to International Tax Compliance to become a compliant taxpayer. 🌐: Mobile No.📱 : +91-72288 48181 / +91-70435 93388 E-mail Id 📩: nris1@ashutoshfinserv.com Visit us 🔗 : www.ashutoshfinserv.com Follow us using Ashutoshfinserv at Facebook, Instagram, YouTube, Twitter & LinkedIn to receive all the latest information from the finance world. 📈🌍
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View Blogs in English Investment Services

INVEST IN 54EC BONDS TO SAVE CAPITAL GAINS TAX BEFORE THE END OF THIS FINANCIAL YEAR 📈

INVEST IN 54EC BONDS TO SAVE CAPITAL GAINS TAX BEFORE THE END OF THIS FINANCIAL YEAR 📈 ▶️ Any individual is liable to pay tax on capital gains arising from sale of any assets as per the Income Tax Law. ▶️ Any capital gains arising on sale of any immovable property held for more than two years would qualify as long term capital gains. ▶️ Under section 54EC of the Income Tax Act, the gains if invested in notified bonds within a period of 6 months of sale would qualify for exemption from capital gains tax. ▶️ The exemption on such notified bonds of the Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) is available up to INR 50 lakhs. ▶️ The bonds issued after 1st April 2023 pay an interest of 5.25%p.a. which is taxable are for a term of five years. ▶️ Any individual investing in such bonds effectively earns 10.85%p.a. CAGR (Compounded Annual Growth Rate) across a tenure of 5 years considering the capital gain tax saving and interest from such investment. Download pdf for 54EC Bonds calculation
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View Blogs in English NRI Services

📍Maximize Your Wealth with a combination of NRE Fixed Deposits and Equity Mutual Funds📍

Are you ready to take your investment strategy to the next level? Here’s how you can combine the stability of NRE Fixed Deposits with the growth potential of Equity Mutual Funds in just 3 simple steps: 1.) Investing in NRE Fixed Deposits for a Duration of 5 Years 2.) Select the option for receiving annual interest payments. 3.) Invest the interest earnings annually into equity funds through monthly SIPs. Ready to embark on your investment journey? Watch our detailed guide on YouTube to learn more about combining NRE Fixed Deposits and Equity Mutual Funds for a winning investment strategy Don’t miss out on this opportunity to diversify your portfolio and achieve your financial goals with confidence! Ashutosh Financial Services Pvt. Ltd. •Investments •Insurance •NRI Services •Income Tax & Estate Planning www.ashutoshfinserv.com Mobile: +91 72288 48181/+91 70435 93388 Email: nris1@ashutoshfinserv.com Follow us using Ashutoshfinserv at Facebook, Instagram, YouTube, Twitter & LinkedIn to receive all the latest information from finance world
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View Blogs in English Investment Services

💫 Unlock the potential of gold investment with Sovereign Gold Bonds-SGB 2023-24 Series IV 💫

  🎯Comprehensive video guide to Sovereign Gold Bonds 🎯 * Understanding Sovereign Gold Bonds. * Reason to consider investing in Sovereign Gold Bonds. * Key features of Sovereign Gold Bonds . * Tax implication and benefits. * Advantage of opting for Sovereign Gold Bonds . * Why choose AshutoshFinserv for your investment needs. Issue Period : February 12, 2024 to February 16, 2024 Price of SGB for series IV : Rs.6,213 per gram Ashutosh Financial Services Pvt. Ltd. •Investments •Insurance •NRI Services •Income Tax & Estate Planning www.ashutoshfinserv.com Mobile: +91 73835 30919 / 93773 35959 Email: info@ashutoshfinserv.com Stay updated with latest financial insight by following AshutoshFinserv on Facebook , Instagram , YouTube , Twitter & LinkedIn.