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Bonus Shares Tax Applicability

What are Bonus Shares: They are new shares issued to existing shareholders without any additional cost. It is usually distributed based on the proportion of the current holdings of an investor. Bonus shares are the accumulated earnings of a company which is not given out as dividends but converted into shares. This practice is also called a Bonus Issue of shares.

Example: A company might announce bonus shares in the proportion of 1:1. This means that for every 1 share held by an investor, the company issued another 1 bonus share. Since the investor now holds two shares, EPS gets halved. Hence the bonus shares do not affect the EPS of the investor. 

Note: Bonus shares are considered free shares as their cost of acquisition is taken as zero, although they are not free in the true sense.

taxation on bonus shares

Advantages of Bonus Shares

As mentioned above, bonus shares do not have any impact on total EPS. If total EPS doesn’t change, then the question arises – what’s the need for bonus shares? Bonus shares help in solving two purposes:

  1. Increase the Liquidity Base: When the price per share of a company is relatively high, it becomes difficult for the investors to buy new shares. Hence, bonus shares are issued to investors. An increase in the number of shares results in downward pressure on the stock price and reduces the price per share. This increases the marketability and liquidity of the shares and in turn, the retail participation.
  1. Tax Saving through Bonus Shares: In the case of cash dividends, companies have to pay dividend distribution tax resulting in diminished returns for investors. In the case of bonus shares, no dividend distribution tax is levied.

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Tax Calculation in Case of Capital Gains

Any profit or loss arising on the sale and purchase of shares/securities falls under the head “Capital Gain” (Except Business Income for those who are involved in the business of sale and purchase of shares). Before we talk about Bonus Shares, let’s take a look at Tax Implications on LTCG (Long Term Capital Gains) and STCG (Short Term Capital Gains).


Type of Capital Gain Tax Rate
Long Term Capital Gain (when Securities Transaction Tax is not applicable) 20% + Surcharge and Education Cess
Long Term Capital Gain (when Securities Transaction Tax is applicable) Exempt
Short Term Capital Gain (when Securities Transaction Tax is not applicable) Normal slab rate applicable to Individuals
Short Term Capital Gain (when Securities Transaction Tax is applicable) 15% + Surcharge and Education Cess

The taxability of gains from the sale of Equity and Debt mutual funds are different. Funds with more than 65% of the portfolio consisting of equities are called Equity Funds.

Trading Income Turnover Calculation
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Tax Calculation in Case of Bonus Shares

The cost of acquisition of bonus shares is taken as zero hence the capital gain on selling a bonus share issue is equal to its selling price.

Let us take an example to understand the calculation of capital gain tax in case of transfer of bonus shares.

No. of Shares held originally100
Bonus Announcement1:1
Total Number of Shares post bonus200
Purchase Price50

The total number of shares held after the bonus issue will be 200. Now, the investor sells 100 shares @INR 50 before 1 year. Taxable Short Term Capital Gain would be as under-

Selling price (100*60)5000
Cost of acquisition (100*40)(4000)
Capital gain on sale of original shares1000

Short Term Capital Gain tax of INR 150 (i.e. 15% of INR 1000) is payable.

Now, the investor sells the remaining 100 shares after some time (in the same year) @INR 50. Taxable short term capital gain on transfer of bonus share would be as under-

Selling price (100*50)5000
Cost of acquisition (100*0)0
Capital gain on sale of bonus shares5000

Short term capital gain tax of INR 750 (i.e. 15% of INR 5000) is payable.

Note: Long term capital gain tax on the transfer of shares is payable @10% from F.Y. 2018-2019.

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🧾 Taxes are simple with Quicko
Howdy Traders,👋 You have long complained about tax compliance. Its confusing, complicated & boring sometimes. We hear you. The wait is over!!!🎉 We used the same Kite APIs that you all have grown to love & used them to simplify taxes for Zerodha Traders. 🙂 Here is how all of you can file taxes this …
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What is Bonus Stripping?

Now investors mainly indulge in Bonus Stripping to evade income taxes. The transaction related to the buy/purchase of Bonus Shares is done in a manner where the net result would be a Short Term Capital Loss. This loss can later be adjusted against any Capital Gains.

Example of Bonus Stripping

  1. Investors buy units three months before the record date of the new bonus shares
  2. Once the company issues the bonus shares, the investors sell the original shares they bought above
  3. This leads to Short Term Capital Loss
  4. After 1 year, the investor sells the bonus shares
  • Yash identified that Parle is going to issue bonus units in the ratio of 1:1. Before the record date, he acquires 400 units of Parle. The price of the units on the said date was INR 500. Total purchase price= INR 2,00,000.
  • On the day of the bonus issue, he receives 1 bonus unit for every unit held i.e. 400 bonus units.
  • Now, post the bonus issue, the market value of the units will decline. Each share is now worth INR 200. Yash sells the 400 units he purchased for INR 200. He makes a loss of INR 1,20,000.
  • Later, after a year, he sells the bonus units. Since the cost of acquisition of bonus units is Nil, the entire proceeds received from the sale of bonus units would be his long term capital gains.

In this case, Yash can first set off the short term losses made from original units held, against the long term capital gains made from the sale of bonus units. Subsequently, if the capital gains remaining after set-off is greater than Rs 1 lakh, he would be taxed on it at the rate of 10% only.

Income tax implications on Bonus Stripping

Section 94(8) of the Income Tax Act, 1961 keeps a check on the Bonus Stripping. It stated 3 conditions when a shareholder cannot carry forward or book loss on sale transactions. Also, These losses would be considered as the Purchase Price of the bonus units acquired if a person:

  • acquires units within 3 months before the record date
  • on which bonus units are subsequently announced,
  • and the original units are sold within 9 months from the record date

Keep in mind, the practice of bonus stripping is considered narrow-minded and anyone can get caught u/s 94(8) of the Income Tax Act, 1961

To conclude, bonus shares have a lot of advantages. It is a great way for companies to increase their liquidity base and enhance the faith of investors. It also yields a higher dividend to investors as he holds a larger number of shares in the company due to bonus shares.

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What is ITR 3? 11 Things to Keep in Mind for F.Y. 2020-21

The Income Tax Department of India has notified 7 ITR Forms in total. These are – ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6, and ITR 7. Individuals and HUFs earning income from business and profession should file ITR 3. Let’s deep dive!

What is ITR 3? 10 Things to Keep in Mind for F.Y. 2020-21

What is ITR 3?

An Individual or HUF (Hindu Undivided Family) can file ITR 3 when there is:

  1. Income from Business/Profession
  2. Presumptive Income
  3. Income from partnership firm

In simple words, ITR 3 needs to be filed when income is earned under the head “Profit or gain from business or profession“. It is also filed when Tax Audit is applicable.

Note: Any separate legal entity other than individual and HUF can not file ITR 3 i.e, Partnership Firm, LLP, Company, Charitable Trust, etc.

ITR for Proprietors with Business Income
CA Assisted Income Tax Return filing for Individuals & HUFs with business income from Proprietary Firm.
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ITR for Proprietors with Business Income
CA Assisted Income Tax Return filing for Individuals & HUFs with business income from Proprietary Firm.
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ITR 3 Form for Income from Business or Profession

1. What is ITR 3 Parts and Schedules

1. A general list of things to know before you start filing your return-

  • All items must be filled in the manner indicated therein; otherwise, the return may be liable to be held defective or even invalid.
  • If any schedule is not applicable, score across as “­­­NA­­­“.
  • If any item is inapplicable, write “NA” against that item.
  • Write “Nil” to denote nil figures.
  • All figures should be rounded off to the nearest one rupee. However, the figures for total income/ loss and tax payable be finally rounded off to the nearest multiple of ten rupees.

2. Following is the sequence for filling out parts and schedules-

  • Part A- General on page 1.
  • Schedules
  • Part B­TI and Part B­TTI
  • Verification
  • Details relating to TRP and countersignature of TRP if the return is prepared by him.

Structure of ITR Form 3

2. Documents Needed for ITR 3 for Business and Professional Income

Following are the documents required to file the return if you are earning any income from Business and Profession during the year:

  • Balance Sheet and Profit & Loss Statement
  • Bank Account Statement/ Passbook
  • Supporting documents for expenses incurred
  • Cash Register
  • Any other documents required to maintain the books of accounts of the business & profession
  • Audit Report in case the profit from the business is less than 8% of the Total Turnover.
How to file the ITR 3?
You can either file your ITR 3 physically or electronically. Since the Financial year 2013-14, electronic filing of ITR 3 has been made compulsory for taxpayers having an income of more than INR 5 Lakhs.
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How to file the ITR 3?
You can either file your ITR 3 physically or electronically. Since the Financial year 2013-14, electronic filing of ITR 3 has been made compulsory for taxpayers having an income of more than INR 5 Lakhs.
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3. Due Dates: 

It’s one extension after another for the Income Tax Department. The Income TAX due date for F.Y. 2019-20 (A.Y. 2020-21) has been extended once more as a Covid 19 relief.

4. Set-off and Carry Forward Loss

Set-Off Losses under Income Tax means adjusting the loss against the taxable income earned; after that, the amount of loss remaining can be carried forward to future years. Therefore, the carry forward losses can be set off against future incomes. The Income Tax Act has, however, specified rules to set off and carry forward losses under each head of income. The taxpayer cannot carry forward losses to future years if the income tax return for the year in which loss is incurred is not filed on the Income Tax Website within the due date as per Sec 139(1). However, loss under the head Income from House Property can be carried forward even if the return is filed after the due date.

Carry Forward Loss

Once the taxpayer adjusts losses using intra-head set-off and inter-head set off rules, then the taxpayer can carry forward the remaining losses to future years. The carryforward loss can be adjusted against future incomes. Therefore, any Loss under any head of income except House Property Loss cannot be carried forward to future years if the ITR has not been filed within the due date as per Sec 139(1).

A table with rules to carry forward loss and set off against future incomes.

ITR for Proprietors with Business Income
CA Assisted Income Tax Return filing for Individuals & HUFs with business income from Proprietary Firm.
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5. Business and Profession Codes

The Central Board of Direct Taxes (CBDT) has changed the business and professional codes for the Income Tax Return (ITR) from Assessment Year 2019-2020. Hence, you must select the correct codes for the nature of the business or the nature of the profession to report the correct information in the ITR. The nature of the business code should be selected on the Income Tax Website 

Any Taxpayer having income from business/profession who does not opt for the Presumptive Taxation Scheme should prepare financial statements and file ITR-3. The taxpayer should select the correct codes and categories under which the business or profession can be classified from the drop-down list. Description of business/profession activity and Trade Name of the business/profession can also be added.

ITR 3 Filing for Traders
Import your Tax P&L or Capital Gains Statement and file Income Tax Return in 5 minutes.
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ITR 3 Filing for Traders
Import your Tax P&L or Capital Gains Statement and file Income Tax Return in 5 minutes.
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6. What is Tax Audit

Are you confused about calculating your Trading Income Turnover and determining the Tax Audit Applicability? We’ve got you covered.

First, trading income turnover calculation should be done only when your income is considered as business income and not capital gains income. Second, you need to calculate the trading turnover of such income to determine your tax audit applicability.

Note 1: Tax liability does not depend on turnover

Note 2: Trade-wise vs Scrip-wise: The taxpayers should report the trade-wise turnover and not scrip-wise turnover in ITR. However, if the broker report provides scrip-wise data, turnover is reported on a scrip-wise basis.

Tax Audit Applicability

Trading turnover is a major condition to determine tax-audit applicability.

There have been some major changes to the tax-audit rules in Budget 2020. The limit for turnover as per Section 44AB is increased from INR 1 cr. to INR 5 cr if – at least 95% of total payments and 95% of total receipts are digital in nature. For traders, all transactions are digital. Hence the limit of Tax Audit Applicability U/S 44AB will be INR 5 cr. And for taxpayers who do not satisfy the above condition, the limit of INR 1 cr remains unchanged.

This table might help you understand the applicability rules in a jiffy. 

7. Who Should Maintain Books of Accounts?

The income tax act specifies the books of accounts that need to be maintained for the purpose of the Income Tax. These are mentioned under section 44AA of the income tax act and rule 6F. Every person who has the following professions is required to maintain the books of accounts:

  • Legal
  • Medical
  • Engineering
  • Architectural profession
  • Profession of accountancy
  • Technical Consultancy
  • Interior Decoration
  • Authorized Representative
  • Film Artist
  • Or Any other profession as is notified by the Board in the Official Gazette shall keep and maintain the books of accounts and other documents if his total gross receipt in the profession exceeds INR 1,50,000 in any one of the 3 years immediately preceding the previous year, or where the profession has been newly set up in the previous year than in that case if his total gross receipts in the profession for that year are likely to exceed INR 1,50,000.

Do I Need to Get My Books of Account audited?

Yes! The following are the conditions-

  • If you are running a business with total sales exceeding INR 1 crore
  • If you are a professional earning income above INR 25 lakh
  • From FY 2016-17, the limit has been increased from INR 1 crore to INR 2 crores and from INR 25 lakh to INR 50 lakh.

8. General List of Expenses Included While Filing ITR 3

  • Employee Benefits Expense (salaries and wages, contribution to provident and other funds, staff welfare expenses).
  • Depreciation and amortization,
  • Interest expense,
  • Net loss on the sale of investments,
  • Net loss on foreign currency transaction (other than considered as finance cost),
  • Payments to the auditor as Audit Fee, for taxation matters, Certification fee, or for other services.
  • Power and Fuel, Rent, Repairs to buildings, Repairs to machinery, Insurance, Rates, and taxes, excluding taxes on income
  • Other Miscellaneous expenses are included as expenses.
What Expenses Can a Trader claim in Income Tax Return?
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9. Income From Partnership Firm

If you are a partner in a partnership firm, you must report the following details of your ITR:

  • Name & PAN of firm
  • Whether a firm is liable for Tax Audit
  • Share of profit in the  firm (in both % and amount)
  • Capital of the firm as of 31st March

Note: The share of profit in the firm is exempt in the hands of the partner since the partnership firm pays tax on such income.

10. Financial Statements – Balance Sheet and P&L for ITR 3

If there is an income from a business or profession and the taxpayer does not opt for Presumptive Taxation, it is mandatory to report financial statements in the Income Tax Return. Financial Statements comprises of Balance Sheet and P&L Statement.

Balance Sheet

Balance Sheet is the statement that reflects financial details of a business in form of Assets & Liabilities. Assets comprise of the following:

  • Fixed Assets – car, furniture, land, laptop, mobile, etc.
  • Current Assets – cash & bank balance, debtors, loans given, TDS / TCS Credits, etc
  • Investments – equity shares, mutual funds, bonds, debentures, etc

Liabilities comprise of the following:

  • Capital of the business as of 31st March
  • Loans taken i.e. secured and unsecured loans
  • Current liabilities – bank OD, creditors, provision for income tax, etc

P&L a/c

P&l a/c is the statement that reflects the profit earned or loss incurred for the business during the financial year. It comprises of the following:

  • Sales include the value of goods or services sold during the financial year.
  • Purchases include the value of goods or services bought during the financial year.
  • Income includes other revenues such as profit from the sale of assets, commissions, interest, etc.
  • Expenses include salary, advertisement, rent, repairs & maintenance, electricity, printing & stationery, staff welfare expense, depreciation, etc.

11. Miscellaneous

GST Details for ITR 3

If you are registered under GST, you must report the following details in the ITR:

  • GSTIN i.e. GST Identification Number
  • Total Sales as per the GST Return

Note: If there is a mismatch in the sales as per ITR and sales as per GST Return, the tax department may issue a notice to the taxpayer.

Taxes Paid

The taxpayer must report details of the taxes paid such as self-assessment tax or advance tax in the Income Tax Return. Such taxes would be reduced from the total tax liability calculated.

TCS/TDS Credits

TDS i.e. Tax Deducted at Source or TCS i.e. Tax Collected at Source are the taxes deducted on incomes. All the TDS / TCS Credits are reflected in Form 26AS available in your login on the Income Tax Website. You can claim credit of such TDS / TCS against the tax liability.

Foreign Assets

If you have earned any income outside India or hold any assets outside India, you must report such details in the Income Tax Return. If you hold the status of a Resident as per the Income Tax Act, income earned outside India is also taxable. To ensure that the same income is not taxed in 2 countries, refer to the DTAA Agreement entered into between the countries and claim credit for taxes paid outside India.

Taxpayers like you have asked us similar questions. Shoot your queries about Tax Season 2020!

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GST for Traders



Do Traders Need to File GST

The Goods and Services Tax is a milestone in the history of Indian indirect tax laws. Any business registered under GST must charge GST on the sale of goods or services. It is applicable to manufacturers, traders (dealing in Goods & Services), and service providers. The most common GST related question: Do traders (Trading Securities) need to file GST? They are often confused about the applicability of GST (Goods and Services Tax) to ‘trading in securities.’ The answer is: GST is NOT applicable to the purchase/sale of Securities.

Securities have the same meaning as per Section 2 of Securities Contracts (Regulation) Act, 1956 and includes shares, scrips, stocks, bonds, debentures, debenture stock, other marketable securities, and derivatives. Let’s deep dive!

Read More: GST in India

GST for Traders on Securities

If one looks at the history of indirect taxes, activity of sale and purchase of securities has never been subjected to any service tax and value-added tax (VAT). Even the GST Act EXCLUDES Securities from the definition of Goods. Section 2(52) gives us the definition of goods as: ‘any movable property except money and securities.’ While Services mean: ‘ anything other than goods, money, and securities.’

This tells us that trading in shares and securities falls outside the ambit of the GST Act. And Securities Traders are not liable to register under GST.

GST might be called a destination-based ‘consumption’ tax whereas securities are ‘investments’. Imposing a tax on something which merely represents investment would go against the principle of GST. But there’s a click here. If you are a broker, you must be earning brokerage and commission income from Securities Trading. Now, this is a service and comes under the ambit of GST. Hence, inclusion in Aggregate Turnover is necessary to determine the applicability of GST Registration if it crosses the Turnover Threshold. The GST tax rate on Brokerage is 18%.

GST for Traders - Do they need GST Registration?
Do Traders Need to File GST? They are often confused about the applicability of GST (Goods and Services Tax) to ‘trading in securities.’
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GST for Traders - Do they need GST Registration?
Do Traders Need to File GST? They are often confused about the applicability of GST (Goods and Services Tax) to ‘trading in securities.’
Read More

What’s the Threshold Limit?

If you are a business owner, it is mandatory to register under GST if the Aggregate Turnover exceeds INR 40 Lakh (INR 20 Lakh for special category states) for the sale of goods & INR 20 Lakh (INR 10 Lakh for special category states) for the sale of services.

Is Trading Turnover a Part of Aggregate Turnover?

Aggregate Turnover includes the sum of the sale of goods and services. And since the definition of goods and services excludes securities, the ‘aggregate turnover’ should NOT include ‘trading turnover’ to determine the applicability of GST Registration.

Trading Turnover is the turnover calculated for each trading segment as per the reporting requirements of the Income Tax Act.

Calculate Aggregate Turnover under GST
To check applicability of GST Registration or to avail benefit of Composition Scheme, refer steps to calculate Aggregate Turnover under GST
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Calculate Aggregate Turnover under GST
To check applicability of GST Registration or to avail benefit of Composition Scheme, refer steps to calculate Aggregate Turnover under GST
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Trading Expenses on Securities Trading

Expenses incurred on trading in securities include CGST, SGST, or IGST. This is nothing but the GST on expenses such as brokerage, transaction costs, turnover fees, etc. Traders usually incur such expenses during trading transactions. The trader can claim such expenses against the profit/loss from trading while filing the Income Tax Return on the income tax website.

How GST Works for Traders – Reporting in ITR-3

Turnover as per ITR must match with sales reported in GST Return to avoid any mismatch notice. If the trader does not have GST Registration, he/she need not report details of GSTIN in the Income Tax Return. If the trader has income from any business other than securities trading and has GST Registration, it is advisable to report the trading turnover from securities trading under Non-GST Supply in the GST Return.

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Impact of GST on Securities

There are some absurd effects of GST on Securities. For example, the sale of securities to Foreign Institutional Investors (FIIs) based out of India would most likely qualify as ‘export’ (subject to receipt in convertible foreign exchange) and be zero-rated. But the domestic sale of the same securities could be subject to GST. This might lead to a scenario that incentivizes all investments in India to be routed through foreign shores. Sounds like a death knell for domestic investments, doesn’t it?

Do Traders Need to File GST? Is it applicable to income from Securities? The answer in a nutshell – no.

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India US, Taxes, and Trump vs Biden

The US Elections! Trump vs Biden! NRIs and Immigrants! Millions of H1-B visas! But what about the tax implications? Prez Donald Trump, also known as the ‘tariff man’ brought about substantial changes in taxation. He cut the corporate tax rate from a tiered range of 15% to as high as 35% (depending on taxable income) to a flat 21%. He also retained the old structure of 7 individual income tax brackets. But in most cases, he lowered the rates. While the top rate fell from 39.6% to 37%, the lowest bracket remained at 10%.

For the Indians in USA, this was a great thing as they believe in savings. They are conservative and Trump’s Taxes help them save their hard-earned money.

It went on to affect a great number of Indians. An article by Quint, featuring Geeta Chopra of Pennsylvania dives into a lot of detail. She invested in a franchise business, hired 35 people, and she was able to do this because of the tax cuts and deregulation that the Trump administration offered. She is also a TV presenter and writer, and she believes that all the gains will be wiped out if Biden becomes US President.

This is because Mr. Joe Biden plans to increase the corporate tax rates from 21% to 28% and individual income tax rates from 37% to 39.6% on income above $400k. The annual $400k limit applies to 1.8 percent of Indian families, which are expected to earn 24.8% of the income in 2021. She compares this to a wartime plan. “They aim to generate taxes in the range of 19.5% of GDP, which is comparable to the financing needed for Vietnam, Korean, and WW2 wars. We are not in a war. Why even come to America then.”

But here’s the click! 75% of Indian Americans have a graduate degree. This is double compared to 31.5% of Americans. And a majority of them will definitely look at social problems. Moreover, there’s a great divide between the ideals of Republican Trump vs Biden Democrat. Biden might have a more consensual style of presidency. It might just be morally correct to go with the Republicans. Biden would strive to curb the USA-European Trade War. And not to forget the ‘Kamala-Harris-factor.’ She‘s a Republican and an Indian. But Trump has the ‘Howdy-Modi’ under his sleeve too. And there’s one thing for sure, no one can ever truly replace the ‘tariff man.’

In the 2020 Indian-American Attitude Survey, taxes rank as the 4th most important factor of the US elections while the Economy remains the-most-important factor. So, should a citizen worry about the economy or his/her personal savings? A question everybody needs to ask. But one thing cannot go unnoticed over here. Only 3% are worried about U.S.-India relations. This explains a lot. For the community, “kitchen-table issues” rank higher than foreign policy concerns.

Talking about Healthcare, which is the second most important. H1-B workers pay billions in taxes in the USA. Almost 70% of all H1-B visas issued by America are for Indians. Total taxes contributed by all the H1-B visa holders stand at $85B. The average salary of an H-1B visa holder in the US is $118,100. So, with a base rate of 24%, he or she pays $28,344 in taxes each year. A chunk of these taxes – 7.65% of the annual income, or $27.1 billion per year – goes towards benefits such as social security, medicare, local businesses, and American companies which don’t cover H-1B holders. It is safe to say that ‘tax’ is just another pillar under the same roof.

But this is not the end. Immigrants, students, and visa holders remit large portions of their salary to their home countries. There is of course no limit to how much money they can send to their relatives, provided they’ve paid their taxes in the USA. But there’s also a limit of $14k per person per year for the tax-free transaction. Any amount sent above the $14k per person per year is eligible for gift taxes in the USA.

This is quite thought-provoking. So if you earn an average of $118,100 which is equivalent to INR 88L. Firstly, there’s a base rate of 37% federal tax, which Biden wants to increase! Secondly, the additional state taxes, which might vary greatly depending on the state. Thirdly, immigrants send enough money back home for their parents. There’s a tax on that, too. And not to forget the wild living expenses of the USA. And only after all of this can one talk about savings. Considering all of this, a President who can stand up to better tax reforms may just seem to be a better candidate for the elections.

Whatever the results, the entire world will be watching.

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👨‍✈️ O’ ISIN! My ISIN!

You all must have heard about the infamous Section 112A and the excruciating amount of details traders need to provide during trade-wise reporting. So, while filing for capital gains with ITR 2 and ITR 3, you have to provide the following details of share sold during FY 2019-20:

1. ISIN (aka International Securities Identification Number)

2. Name of the share/unit

3. Number of shares

4. Sales-price per share/Unit

5. Cost of Acquisition

6. FMV as on 31/01/2018

7. Expenditure related to transfer

Out of all the above details, ISIN was most difficult to procure as brokerages and investment platforms wouldn’t provide their customers with the same. Yes, it was such a hassle that traders were pulling their hair out.

Now, there might be a chance that the Income Tax Department heard the cries. It came up with a major relief a few days ago – you no longer need to lookup for ISIN. Instead, the trader can use an ‘INNOTAVAILAB’ as ISIN. This can be used in place of the older/original ISIN! This will greatly reduce the stress in trade-wise reporting. Taxpayers now have to worry about one less detail in cases where the data is huge and time is less.

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What are all the Income Tax Utility Updates?
Have any questions ?
What are all the Income Tax Utility Updates?
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