| [ | |
| { | |
| "prompt": "Calculate tax for ₹10,00,000 at 30% rate.", | |
| "response": "The tax is ₹3,00,000." | |
| }, | |
| { | |
| "prompt": "Explain Section 80C of the Income Tax Act.", | |
| "response": "Section 80C allows deductions up to ₹1,50,000 on PPF, EPF, and life insurance." | |
| }, | |
| { | |
| "prompt": "What is the tax on ₹8,50,000 with a 20% slab?", | |
| "response": "The tax is ₹1,70,000." | |
| }, | |
| { | |
| "prompt": "How does the new tax regime differ from the old tax regime?", | |
| "response": "The new tax regime has lower tax rates but fewer deductions, while the old regime allows more exemptions." | |
| }, | |
| { | |
| "prompt": "What is the exemption limit under the new tax regime for FY 2023-24?", | |
| "response": "The exemption limit is ₹3,00,000 under the new tax regime." | |
| }, | |
| { | |
| "prompt": "Is HRA exempt from income tax?", | |
| "response": "Yes, House Rent Allowance (HRA) is exempt under Section 10(13A) based on salary, rent paid, and location." | |
| }, | |
| { | |
| "prompt": "How to save tax under Section 80D?", | |
| "response": "Section 80D allows deductions on health insurance premiums up to ₹25,000 (₹50,000 for senior citizens)." | |
| }, | |
| { | |
| "prompt": "What is the capital gains tax on the sale of property?", | |
| "response": "Long-term capital gains (LTCG) on property are taxed at 20% with indexation, while short-term gains are taxed as per the income slab." | |
| }, | |
| { | |
| "prompt": "Can I claim deductions on home loan interest?", | |
| "response": "Yes, under Section 24(b), you can claim up to ₹2,00,000 per year on home loan interest." | |
| }, | |
| { | |
| "prompt": "What is the GST rate on restaurant bills?", | |
| "response": "The GST rate on restaurant bills is 5% for non-AC restaurants and 18% for AC restaurants." | |
| }, | |
| { | |
| "prompt": "What is TDS and when is it deducted?", | |
| "response": "Tax Deducted at Source (TDS) is deducted by the payer on salaries, rent, and interest payments as per prescribed rates." | |
| }, | |
| { | |
| "prompt": "How can NRIs save tax in India?", | |
| "response": "NRIs can save tax through DTAA benefits, NRE accounts, and exemptions on certain investments." | |
| }, | |
| { | |
| "prompt": "What is the corporate tax rate in India?", | |
| "response": "The corporate tax rate is 22% for domestic companies under the new regime and 30% under the old regime." | |
| }, | |
| { | |
| "prompt": "Are agricultural incomes taxable?", | |
| "response": "No, agricultural income is exempt from tax under Section 10(1)." | |
| }, | |
| { | |
| "prompt": "What are the penalties for late ITR filing?", | |
| "response": "A late fee of ₹5,000 applies if filed after the due date, and ₹10,000 for income above ₹5 lakh." | |
| }, | |
| { | |
| "prompt": "Explain Section 80G of the Income Tax Act.", | |
| "response": "Section 80G allows deductions on donations made to eligible charities, ranging from 50% to 100% of the donation." | |
| }, | |
| { | |
| "prompt": "What is Advance Tax, and who needs to pay it?", | |
| "response": "Advance Tax is payable if total tax liability exceeds ₹10,000 in a financial year and is paid in installments." | |
| }, | |
| { | |
| "prompt": "What is the basic exemption limit for senior citizens?", | |
| "response": "The exemption limit for senior citizens (60-80 years) is ₹3,00,000 and ₹5,00,000 for super senior citizens." | |
| }, | |
| { | |
| "prompt": "How does tax loss harvesting work?", | |
| "response": "Tax loss harvesting helps offset capital gains by selling loss-making stocks to reduce taxable income." | |
| }, | |
| { | |
| "prompt": "What is the standard deduction for salaried employees?", | |
| "response": "A standard deduction of ₹50,000 is available for salaried and pensioned individuals." | |
| } | |
| ] | |