Tag: Tax Planning
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Demonetisation and conversion of Black to White money and penalty
After Demonetisation on 8th november, also called surgical strike on black money many people have lost their sleep. People are looking at ways to convert their black money to white. They are all searching ways to minimise penalty and also avoid income tax. Impact of Demonetisation on 122 crore Indians Out of total 125 crore Indians, 122 […]
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Income tax calculator for Financial year 2015-2016
Income tax calculator for Financial year 2015-2016 Please feel free to use Income tax Calculator. For convenience of Tax Payers we have made this in excel. This completely downloadable and you are free to share with your friends and relatives. Download Income Tax Calculator for Year 2015-2016 : [sociallocker] Download excel based Income tax Calculator for […]
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Sukanya Samriddhi Account for Minor Girl Child
In compliance of announcement by Finance Minister in his Budget Speech 2014-15 the Government of India has introduced a new scheme named “Sukanya Samridhhi Account” vide Notification No.GSR No.863(E), dated 2nd December, 2014. It has been decided to allow 9.1% rate of interest on investments in the scheme during the financial year 2014-15. This has […]
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Who Can Use Itr 4S (Sugam) For Online Income Tax Return Filing?
New Income tax form for Assessment year 2013 -2014 are released by Income Tax Department. It is important that correct income tax form should be selected for filing income tax return. Selecting correct income tax form will ensure that you return are processed timely and you get income tax refund on time. Who can use […]
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How to save income tax on sale of house property
Have you sold your house property? Are you worried Income tax has to be paid on Capital gains? Do you know that there is legal way and you will not be required to pay income tax on sale of house property? Read on and save income tax on Capital gain on sale of house property. […]
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Income Tax Calculator for Year 2013-2014 (Assessment Year 2014-2015)
Income tax Calculator for Financial year 2013-2014 (Assessment Year 2014-2015) Please feel free to use Income tax Calculator. For convenience of Tax Payers we have made this in excel. This completely downloadable and you are free to share with your friends and relatives. Income Tax Calculator: Download Free excel based Income tax Calculator for Previous […]
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Section 87A gives Income tax Rebate/Credit of Rs 2000 for individual whose income is less than Rs 5 lac
Budget 2013 has introduced new Section 87A. This Section gives Extra Income tax rebate of Rs 2000/- to Resident Individuals whose Total Income is less than Rs 5,00,000/- Conditions to be fulfilled for availing Extra Income tax rebate: 1) Extra rebate u/s 87A is only available to Individuals. This rebate is not available to HUF’s […]
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Form 15G and 15H and help you save Income tax
Form 15G and Form 15H can help save TDS on fixed deposit you have made with your bank and Financial Institutions. 15G and 15H are declaration signed by individuals and HUF that their Gross Total Income, is less then exemption limit. Main difference between these forms is – form 15G is given by individuals below […]
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LIC Jeevan Sugam
LIC Jeevan Sugam is deferred Pension Plan is a new Single premium policy from LIC. Jeevan Sugam (Plan No. 813) is good option as it provides good return and is available against one time payment. Jeevan Sugam is a close ended plan which would be open for sale from 25 February, 2013 for a maximum period […]
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Section 80EE Additional Deduction of Interest upto Rs.1 Lakh on Home Loan for First Home Buyer
In Budget 2013, New Section 80EE, has been introduced. Benefit of section 80EE is available for new home loan buyer Highlights of Section 80EE are: Additional deduction is available to only Individuals. Benefit of Section 80EE available only, if you have no existing house, in your name. You have bought a new house, and House cost of the […]