“Now the definitive list must of course be produced by the ‘High Commission’ of our party/association but I have a few suggestions of my own. All students, irrespective of caste, creed or religion must be provided with free laptops. I mean, didn’t somebody somewhere provide free colour TVs to everyone? Our request, then, is definitely… Read More »
Of the investments in Section 80C, ULIPs and ELSS (Tax Saving Mutual Funds with 3 years lock-in)could be considered by investors with a long term (above 7 years and 3 years respectively)investment purpose. EPF is unavoidable for the salaried employee, so it becomes an automatic investment.
What if you have worked a part of the financial year abroad and have already paid the tax there? It is not fair that you have to pay tax on the same income twice in two different countries. It is here double taxation treaties signed by India with 66 other countries will help you. As… Read More »
For the uninitiated and probably for the unmarried and divorcees too, a prenuptial agreement or more commonly called prenup or prenupt is a contract or agreement entered between two people about to wed! This contract clearly lays down the procedure of how assets and personal liabilities will be shared or distributed or spousal support in… Read More »
Ever heard of your dad or grand dad take a loan for a vacation or for that matter for a festive and high spending involved occasion like a wedding? Do you recall them buying clothes because retail therapy helped their blues every other month? They always preferred quality over quantity on anything purchased be it… Read More »
Surveys say that India is going to give the biggest salary hike in 2010. Salary increase for 2010 in India is projected to be 10.6 percent, the highest in Asia Pacific and up 60 percent from the actual increase of 6.6 percent in 2009. Indian owned companies are expected to outperform MNCs with a projected… Read More »
Changes related to the Personal Income Tax like increasing the limits under Section 80C and hiking the tax slabs in a big way may not happen. A marginal increase in the tax slab as in the previous budget may be the best that individuals can expect. Implementing and change in the 80C limit of increasing… Read More »
The New Direct Tax Code talks of talks of going for EET for most of the favoured investment and savings avenues of Indians today. Life insurance, provident funds and superannuation are the schemes that will be affected. The New Pension Scheme had at the time of launch itself been under the EET regime. The budget… Read More »
How about saving for retirement while simultaneously enjoying tax benefits? Then how about investing in pension funds? You can opt for pension funds offered by both insurance companies as well as mutual funds. However be warned that while you don’t pay tax on investing, you will have to pay tax on the pension.
Usually July 31st is the last date for filing tax returns. It is important to file the returns on time in order to avoid paying penalty. Besides it is a mandatory requirement of the government. Any person whose gross salary exceeds the basic exemption limit is required to file his income tax returns.