Tax refund in favour for exports to US

The government is considering a scheme to refund taxes imposed on India’s exports to the US that will suffer loss of competitiveness once the concessional duties enjoyed under the Generalised System of Preferences (GSP) are withdrawn. A Rebate of State Levies (ROSL) kind of scheme, which would refund unrebated taxes that are Read more…

Income tax slab for fy 2019-20

Under Section 87A of the Income Tax Act, taxpayers with income up to ₹5 lakh will get full tax rebateFor salaried taxpayers, standard deduction has been raised from the current ₹40,000 to ₹50,000 With the start of the new financial year 2019-20 from this month, it is time to start your financial planning Read more…