Although at a cursory glance some of the ideas discussed above might sound to be the stuff that our Auditor/Financial Planner should be concerned with and not us, it is imperative that we understand the philosophy behind them so that we are more in control of our income tax assessments. With the increasing benefits of… Read More »
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.
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »