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 … Continue reading
Income tax Return for Assessment year 2013-2014 has started. Before filing income tax return, following things documents need to be arranged: 1) Form 16 from your employer, in case of Income Tax Return of Salary. 2) Interest Certificate (Form 16A) from Banks and Other Financcial institutions 3) Form 16A in case … Continue reading
New Income tax form for Assessment year 2015 -2016 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 … Continue reading
ITR-1 Form (or called as SAHAJ) is very simple and easy to use Income tax form. Who can use the ITR-1 Form for Previous Year 2014-2015 ( AY 2015-2016) ITR–1 Form is to be used by an Individual having income from following sources: Income from Salary/ Pension Income from One … Continue reading
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 … Continue reading
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 … Continue reading
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 … Continue reading
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, … Continue reading
LIC Jeevan Nidhi is deferred Pension Plan is a conventional with profits pension plan which provides for death cover during the deferment period and offers annuity on survival to the date of vesting. Jeevan Nidhi has two phase – Accumulation Phase and Vesting Phase. In accumulation – the premium goes into … Continue reading
Deduction in respect of interest on deposits in savings account (Section 80TTA): Section 80TTA has been introduced from this Financial Year [2012-13] and it allows to an Individual or HUF from his gross total income if it includes any income by way of interest on deposits (not being time deposits) … Continue reading