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Every single penny earned is valuable!! We need money to live so we work hard to satisfy our needs. But what if something happens and we need a huge amount of money at a stretch?  Exactly, there arose the concepts of saving, borrowing and lending! But why should I lend when I have to suffer illiquidity and inflation? There again arose a concept called interest/ return. In this way, both lender and borrower enjoy a profitable position. So, if we think of investing in Fixed Deposit (FD), then is itSEE DETAILS

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Income Tax Help, Income Tax Learning

Almost every rent payer has to let go of a major chunk of his monthly income with a heavy heart. Baring house rent expenses instead of a vacation, shopping or investment is a stressful experience. Thankfully, the government is focused towards protecting basic needs and provides some relaxation in the form of House Rent Allowance (HRA) tax exemption!!! Let’s first understand what does HRA mean?HRA is the amount paid by the employer to the employees to help them meet the costs of living in rented accommodation. Most of the employers of bothSEE DETAILS

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Income Tax Learning, Income Tax Updates

Introduction:You must be aware that from F.Y 18-19, Long Term Capital Gains on equities and equity fund shall be taxed under the newly inserted Section 112A under the I-T Act,1961. By the way of Budget 2018, LTCG on equities has also been brought into tax net. This move has been brought up keeping in mind the fact that a vibrant equity market is essential for the economic growth of a country. Let’s get a deep insight of it and know how it will impact you.Background:In 2004, the Capital Gains TaxSEE DETAILS

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Income Tax Learning

 Recently, Income Tax Department has issued a advisory for the salaried taxpayers to report correct income while filing the returns . Due to this cautionary, penalty for under reporting or misreporting of income u/s 270A came into light. Further, department has also made major changes in the ITR Form 1 (Sahaj) for F.Y 17-18 in regard to the income details. Now, complete breakup of your salary and house property income would be mentioned in the ITR instead of the total figure. Both these move clearly reflects the intention of  departmentSEE DETAILS

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Blogs, Income Tax Help, Income Tax Learning, Income Tax Updates

 Many of us wait till the last moment before springing into action to file our ITR’s, be it a habit, fear or expertise. Either we are unaware of the deadlines set by IT department or unable to make time before such deadline. Non adherence of Due Date for ITR Filing  in any case, can attract repercussions from the Income Tax department. Therefore for your reference, we will let you know the various provisions of due date.As per Income Tax Law, there are different categories of assessees viz. Individual, HUF, Firm,SEE DETAILS

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