“Income” according to tax laws!
A ready reckoner on how the taxman computes your income. This article tries to give an insight into what constitutes income and what does not according to the IT department.
Tax benefits for your home loan
The tax benefits are applied according to the proportion of the loan taken by everyone involved in the joint loan. For e.g. if the ratio of ownership is 70%:30% then the loan amount of 50 L will be split as 35 L and 15 L respectively and interest/principal applicable to the respective amounts will be… Read More »
Will TDS affect your FD returns?
Assume you have an FD of Rs 1 lakh with your bank. The rate of interest offered by your bank on this FD is 10%. It means the interest you earn on this FD is Rs 10,000. Now suppose the bank hikes the interest rate to 11%. This means the interest you earn now becomes… Read More »
Kraft Cadbury chocolate deal – Does it hold promise?
After months of resistance, Cadbury finally accepted the offer in Jan this year at a higher price of 840 pence a year, thus valuing the company at US$ 18.9 bn. The deal comprises of 500 pence cash and 0.1874 new Kraft shares for each Cadbury shares. Earlier Kraft had proposed a price of 745 pence… Read More »
Budget expectations from some industry sectors!
2009 was a good year for the Indian FMCG sector. Strong volume and price hikes led to the sector grow at a strong 12% growth in 2009. Further, the reduction in excise duties as a part of the stimulus package offered by the government during last year aided the growth. The Rs 86,000-crore FMCG industry… Read More »
Are international funds worth it ?!
In simple terms international funds are funds that are invested in global markets. International funds come in many packages and it is always better to understand them before taking the plunge. In India it was in the year 2007 that the Securities and Exchange Board of India (SEBI) announced that mutual funds could increase their… Read More »
Term or whole life insurance! Which one for you?
Experts advise that riders should be taken irrespective of the insurance policy as this will help retain the insurance benefits according to the age profile of the buyer. For example a buyer with children can opt for the ‘waiver of premium’ rider on his life policy which will ensure that the premiums are paid till… Read More »
NRI home loans on the upswing
An estimated 25 million NRIs living in 130 countries have remitted US$52 billion so far this year (December 2009). In fact India topped the list of countries in remittance flow followed by China and Mexico, according to World Bank report on Migration and Development Brief. The impact of global slowdown, job losses and job offers… Read More »
The basics of filing income tax
You must add up all your Section 80C and non-80C deductions of Income Tax Act. There are online and offline help resources available in computing this. For example, if you are paying house rent it is exempted from tax up to a certain limit. Conveyance up to a certain amount is also exempted. Similarly, leave… Read More »
Make studying abroad cost effective!
There is a big difference in the standard of living in India and standard of living abroad. Those things that you consider luxury in India are a necessity abroad. E.g. car, washing machine and dishwasher are luxuries in India, but a must in the US. You need to find out the actual costs of tuition,… Read More »