In the Union Budget for the financial year (FY) 2021-22, Finance Minister Nirmala Sitharaman proposed a sum of Rs 35,000 crore for the COVID-19 vaccine drive, among a slew of other announcements.
In yet another attempt at promoting a cashless economy, there will now be a charge of two per cent tax if the aggregate cash withdrawal for one or more accounts amounts to more than 1 crore.
Despite the rules being in place, there have been several restaurants who to keep their profits high have increased their menu prices post the GST slashing, thereby hardly reflecting any change in the bills that burn a hole in the pocket of those eating out.
This increase has made India the first country to record such an enormous growth regarding ease of doing business, Finance Minister Arun Jaitley expressed in a press conference announcing the development.
Everybody loves saving on the tax they have to pay, and every year, there is a frantic scramble to find the best ways to reduce tax liability. Here are some of the best solutions available to help you save tax at the end of this financial year.