Income Tax Department Cracks Down On Cryptocurrency Traders, Again

Income tax department issued notices to thousands of cryptocurrency users HIGHLIGHTS Cryptocurrency market believes that government is going a bit too far Recently, Japan & China cracked down against cryptocurrencies South Korea is considering shutting down its virtual currency exchanges From finance ministry to Reserve Bank of India (RBI) to income tax (I-T) authorities, almost every regulator of any significance is bent upon tightening the noose on cryptocurrency users (including bitcoins, ripple, ethereum and litecoin, among others) and traders. On Friday, the income tax department issued notices to the hundreds of…

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10 Income Tax-Saving Options Beyond Section 80C Limit

Many taxpayers exhaust the Rs. 1.5 lakh tax deduction limit under Section 80C (Representational image) Income tax deductions on life insurance premium, an employee’s contribution towards EPF (Employee Provident Fund), PPF (Public Provident Fund), children’s tuition fees, pension plans, principal repayment on home loans and a host of other investment options are covered under Section 80C of the Income Tax Act. Many taxpayers exhaust the Rs. 1.5 lakh tax deduction limit under Section 80C. Additional investment in the various options will not provide further tax benefits. Here are some of…

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How To Earn Monthly Regular Income By Investing In Mutual Funds

Under the SWP option, the mutual fund investor gets a specified amount as a monthly payout. Bank fixed deposits, Senior Citizens Savings Scheme, and Post Office Monthly Income Schemes are some of the popular investment options for retired and semi-retired people who like to earn regular monthly income. Can mutual funds do the job? Many debt funds as well as some balanced fund offer a monthly dividend option. But remember, dividends are not guaranteed. They are distributed from gains made by the scheme, which is market linked, In other words,…

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Can paperless finance technology increase household income in India?

The Reserve Bank of India (RBI) committee looking into household finance has several fascinating takeaways into what impedes Indian families from saving, insuring, and investing better. Headed by Tarun Ramadorai, professor of Financial Economics at Imperial College London, the committee report says households can significantly augment their annual income if they had access to formal financial institutions and products, and that technology has a key role to play in ensuring this access. A good money management plan can help augment a household’s income. The household finance report determines this augmentation…

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