The Union Budget 2020 introduced a new personal tax regime in addition to the existing Old Tax Regime for individual taxpayers. However, the New Tax Regime is optional. To put it simply, the assessee can choose between the New Tax Regime and the Old Tax Regime depending on what is best suitable from a tax planning point of view. The Income Tax Department has provided help for making a comparison between old and new tax regime and  is available on the website: https://www.incometaxindiaefiling.gov.in/Tax_Calculator/index.html?lang=eng  where you can input the total income (before exemptions and deductions) and the total exemptions and deductions separately […]

Nassim Nicholas Taleb brought the concept of Black Swan events. In statistics, it is interpreted as a 1% chance event which is beyond the mean and three standard deviations. In actuarial science, this is called extreme events. The history of mankind has been shaped by Black swan events. Coronavirus originated in Wuhan province of China and in a matter of three months has brought the entire world into crises; medical systems, economy, the daily life of citizens. Currently, it is total uncertainty about the future across 199 nations of the world. But there is a positive side to it also. […]