Photo Credits : Inha Leex HaleyIt is a good idea to categorize your payments under different headings like daily living expenses, entertainment and vacation, health etc. This will give you a fair idea of how much you spend on different categories. It is easier to keep track and also control your expenses once you know… Read More »
Clarity in Tax laws, stable tax regime, and Independent judiciary is the underlying theme. Tax system should reflect best growth – Tax Reform committee to be setup to make system better. Direct Taxes Little room to raise tax levels. Prudence and Patience. NO CHANGE IN TAX SLABS Tax Credit of Rs 2000 for people in 2 Lakh to… Read More »
The government has been trying to make the tax laws simpler every year; however, there are numerous amendments required in the tax laws. The union budget for the FY 2013-14 will be presented before the Parliament on 28th February 2013 and the finance minister has promised many reforms expected to combat inflation along with stable… Read More »
If you choose to use the capital gains from selling your house to buy a residential property, you will not be taxed and there is no tax liability from such a sale as stated under Section 54F of the Income Tax Act. You can also be exempted from tax if the long term capital gains… Read More »
Enough cannot be said about the importance of planning your savings and understanding tax components that you can utilise to maximize your income. One of the best ways to take the time to research and plan well in advance, is to start on this exercise right in the beginning of the financial year and not… Read More »
The current economic turmoil in US and European nations have led to a sharp fall in property prices there making them extremely lucrative for non-resident Indians as well as resident Indians to invest in. More and more Indians are opting for offshore properties as a second home in exotic locations.
Quite often it becomes a practical option to avail a joint home loan so as to increase the loan amount and get tax benefits too. In case a couple plans to buy a home by taking a joint home loan then thee are added advantages which they can avail from the loan. While a joint… Read More »
The tax benefits provided by the government to buyers who opt for home loans have been one of the key driving factors that have made the home loans popular across segments of the society today. There are different ways be which a home loan repayment can reduced the overall tax burden thereby earning some savings… Read More »
Many people are ignorant about the fact that their tax refund status can be easily ascertained online with a few simple and easy steps by entering the PAN number. The ‘Refund Banker Scheme’, which was first introduced by the Income Tax Department in Jan 2007, can be used by tax payers all over the nation… Read More »
The end of July rush is the expected norm every year, when tax returns need to be filed! Most people wake up to the need of filing income tax returns only around this time! The IT department has over the years introduced many measures, which take advantage of the available technology to make the process… Read More »