"Discover Retirement Tax Policies for Gratuity and Pension with CA Ranjeet Kunwar Sir"

Video about tax treatment of gratuity and pension as per Finance Act, 2020. useful to all students of CA, CMA, CS and B.Com. (AY 2021-22). For PD and Face to Face Classes; CONTACT.. RKSD TAX CLASSES; 9313445966, 9811459593 Just joined Twitter.Follow me up for more and new updates about Taxation #RKSD #TaxGuru ...(read more)

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Retirement is a crucial stage in every individual's life, and it often comes with many decisions that need to be made, including how retirement benefits such as gratuity and pension will be treated for tax purposes. To help navigate this process, it is essential to understand the tax treatment of gratuity and pension. Gratuity refers to a one-time payment made by an employer to an employee in recognition of their service. The amount is generally calculated based on the employee's last drawn salary and the number of years of service. Gratuity is considered a part of your salary income, and as such, it is taxable under the Income Tax Act. The tax treatment of gratuity varies depending on who the recipient is. If the employee is covered under the Payment of Gratuity Act, 1972, then the maximum gratuity amount that is exempt from tax is Rs. 20 lakhs. Any amount over this limit will be taxable. On the other hand, if the employee is not covered under the Payment of Gratuity Act, 1972, then the gratuity amount that is exempt from tax is limited to a maximum of Rs. 10 lakhs. Pension refers to the regular payment made to a retired employee as a form of retirement benefit. The pension amount is determined based on various factors such as the employee's last drawn salary and the number of years of service. In terms of tax treatment, pension income is taxable under the Income Tax Act. The tax treatment of pension income is different based on the type of pension. In the case of a government pension, the entire amount is taxable as salary income. However, in the case of a non-government pension, a portion of the pension amount is exempt from tax. The portion that is exempt will depend on the number of years of service, the age of the employee, and the amount of pension received. In conclusion, understanding the tax treatment of gratuity and pension is crucial for individuals who are planning for their retirement. It is vital to plan for the tax implications of these benefits to avoid any unwanted surprises during retirement. It is recommended to consult with a tax professional to ensure that your retirement planning is as effective as possible. https://inflationprotection.org/discover-retirement-tax-policies-for-gratuity-and-pension-with-ca-ranjeet-kunwar-sir/?feed_id=86997&_unique_id=64365342aeb0d #Inflation #Retirement #GoldIRA #Wealth #Investing #ca #RetirementPension #ca

"Is Birch Gold Group a Reliable Choice for Your 2023 Gold IRA Investments?" - A Quick Review #shorts

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a top choice to trust your hard-earned retirement savings. Birch Gold Group’s low initial investment minimum is another edge it has over its competitors whose minimums can range from $25,000 to $50,000. A beginning $10,000 minimum investment is all that is required to start a GOLD IRA with Birch which is advantageous for first-time investors. Spanning nearly two decades, Birch Gold Group’s mission and philosophy focus on a commitment to understanding your needs and finding the right fit for you. Their

New York Times Company Continues to Add Online Subscribers at a Steady Clip

Business News by Timothy Sumer - The company’s first quarter results showed total paid subscriptions reaching 4.5 million. Online ad revenue rose 19 percent, to $55 million, thanks, in part, to “The Daily” podcast. from NYT > Business https://nyti.ms/304QC2w via Timothy Sumer

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom Should I Rollover My 401k to anIRA 🤔 || 401k to IRA Rollover Pro's & Con's In this video, I want to talk about rolling over your 401k to an IRA Rollover and if that makes sense for your retirement planning . I want to look at the pro's to rolling over a 401k and also the con's to rolling over a 401k. When you should rollover your 401k to an IRA and when you should NOT rollover your 401k to an IRA. Let's talk about when you should NOT rollover your 401k to an IRA: 1. You are still working and are under the age of 59.5 2. You are 55 and considering retirement (Rule 55) 3. Increased creditor protection in a 401k 4. 401k's offer loans--IRA's do not offer loans Why you SHOULD rollover your 401k to an IRA 1. More investment choices in IRA over 401k 2. Lower investment fees 3. Convert IRA to Roth IRA (Roth IRA Conversion) 4. Consolidation from multiple 401k'

Timothy Sumer

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