ilmscore | Tax planning for Individuals | Only 1 week left for March end | CA Rachana Ranade

Tax planning for Individuals | Only 1 week left for March end | CA Rachana Ranade

Published: 2023-03-25
Status: Available | Analyzed

Predictions from this Video

Total: 6
Correct: 0
Incorrect: 0
Pending: 6
Unrated: 0
Prediction
Topic
Status
The deadline to link PAN with Aadhaar was March 31, 2023.
"31st March 2023 is the deadline to link your PAN with your Aadhar"
PAN-Aadhaar Linking
Pending
Linking PAN with Aadhaar before March 31, 2023, incurred a penalty of 1000 rupees.
"even if you were to link it before 31st March 2023 that will come with a penalty of 1000 rupees."
PAN-Aadhaar Linking Penalty
Pending
Individuals with a net tax payable exceeding 10,000 rupees (after TDS and credits) are required to pay Advance Tax in four installments.
"those whose net tax payable is more than 10,000 after TDS and other eligible credits are required to pay Advance tax in four installments during the year"
Advanced Tax Payment Threshold
Pending
Interest for delayed Advance Tax payment is 1% per month, with any part of a month counted as a full month.
"At one percent per month and a part thereof means what even if there are five days or ten days that will be considered as an entire month"
Advanced Tax Interest Rate
Pending
One lakh rupees of long-term capital gain per year is non-taxable.
"from your long term capital gain one lakh rupees is a non-taxable amount per year"
Long-term Capital Gains Tax Exemption
Pending
Through profit harvesting over three years with a continuous uptrend, tax liability could be reduced by 20,000 rupees, from 50,000 to 30,000.
"with good profit harvesting if you sold in these three years assuming continuous uptrend then your attack someone came up to 30,000 rupees and how much did you save you saved entire 20,000 rupees."
Profit Harvesting Tax Savings
Pending