There were several questions in the minds of employees, business persons and professionals following the tax announcements made at Budget 2020. To switch to the new tax regime or not is one thing that many employees will be vary of, and will have to make a decision soon as the new fiscal approaches. Off course after due diligence over how they plan to save more money for themselves. … [Read more...] about Managing Money with Moneycontrol | What the govt has clarified on tax changes
However, this comparison is unwise on two accounts. First, we all know that a salaried employee can get a standard deduction of Rs 50,000 without doing anything. Also, all salaried employees contribute to EPF. And this amount is eligible for deduction under section 80C. Employers automatically consider an employee’s contribution to EPF under section 80C deduction. Therefore, salaried employees can bring down their taxable income by at least the amount of standard deduction and their contribution to EPF without doing anything. Besides, all of us have at least some savings account interest and can claim a deduction of Rs 10,000 under section 80TTA. … [Read more...] about Which tax regime should you opt for?
The latest reading for December 2018 is at 51.5, the lowest level since September 2016. Countries with PMI figures below the neutral 50 mark included China, France, Italy, Taiwan and South Korea, which means their manufacturing activity has contracted from the previous month. Fall in the Chinese manufacturing PMI took its toll on January 2, when most markets opened for trading. … [Read more...] about Quick Take | Spectre of a global slowdown haunts 2019
The other worry, from the point of view of the bond markets, is the effect the spate of loan waivers will have on state fiscal deficits. An analysis of farm loan waivers by CARE Ratings shows that barring Maharashtra, other states that have announced farm loan waivers will have to walk a tight fiscal path if they have to implement the loan waivers at the earliest. In short, the fiscal situation of the states too is likely to be strained. … [Read more...] about Quick Take | Govt faces tough choice ahead of polls – fiscal deficit or growth
Right now, the world spends around $5 trillion a year on energy and another $6 trillion on related infrastructure, says Hal Harvey, CEO of Energy Innovation, a nonpartisan energy and climate policy firm. What’s critical is “the adjustments you can make to where that money lands,” he says. “We need to make sure that existing cash flows land on green choices, not brown choices. Solving the climate problem is not a matter of conjuring up additional trillions of dollars, it’s a matter of aiming existing cash flow to the right places. That immediately unveils an ideal role for philanthropic money, which is to help make that shift happen.” … [Read more...] about Jeff Bezos, here’s how to give away $10 billion to stop climate change