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Fixed deposits are the most popular way of investing your money in India. It is considered as the most secure avenue for investing your hard earned funds.It hurts a lot when you have to pay tax on the amount of interest you earned from the fixed deposits. Moreover , you have to every year include this income while filing your Income Tax Return. In other words, investing money in fixed deposits without having complete information would result in Income Tax notice or increased taxes.Didn’t know about these intricacies? Right.We areSEE DETAILS

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ELSS- EEquity linked saving scheme
Blogs, Income Tax Saving

It is the Tax Investment quarter of the year.For this reason everybody is in a rush to make investments to save their money on Tax. But Why to save Tax only? When you can save Tax and Earn more as well.A good tax saving investment must be an investment first and then a tax saver. At this point,taxpayers looks to make investments under section 80C.Availing deductions from their taxable income, investing in Equity Linked tax Saving Scheme (ELSS) funds could be most advantageous. No doubt, it provides an ideal combinationSEE DETAILS

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house rent allowance
Income Tax Saving

 You must have heard a lot about HRA exemptions from your colleagues, your HR head, friends. It does seem like a lucrative way of tax saving. But then you might be wondering:… Can I claim HRA exemption? If yes, … What are the basic conditions that need to be fulfilled for claiming this benefit? Following is the list of the most basic requirements that need to be fulfilled for claiming the benefit of HRA exemption.1. You should be a salaried employee.The tax benefits related to HRA are available only toSEE DETAILS

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Blogs, Income Tax Learning, Income Tax Saving

We hope that you have already gone through the part one of the two blog series on tax-free income but there’s much more left then you thought, so here we have tax free incomes in store.We all love saving taxes and getting income tax refund!!!At the time of income tax filing, double check to see you have not paid any online income tax s on any of these incomes.Provident Fund (PF): Exemption / Tax treatment in respect of amount received from public provident fund/ statutory provident fund/ recognized provident fund/SEE DETAILS

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Blogs, Income Tax Learning, Income Tax Saving

Ever cringed about the big figures of taxes deducted from your salary! Well, it goes unsaid that we all want as much cash inflow as possible when we are working and the first thing that comes to our mind is to save that tax paid “TDS”. A common man is sometimes clueless as to how to e file taxes, how to save taxes and where to invest to get that tax relief. Let us tell you about income tax savings journey of Manoj Kumar.Manoj Kumar, aged 35 years, hailing fromSEE DETAILS

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The National Pension System (NPS) is a voluntary defined contribution pension system administered and regulated by the Pension Fund Regulatory and Development Authority (PFRDA) created by an Act of Parliament of India. While the scheme was initially designed for government employees only, it was opened up for all citizens of India in 2009 to create a pensioned society in India.The scheme was introduced so that the taxpayers get into a habit of saving for their retirement because that’s when it’s needed most, Right?So what exactly happens? When you opt forSEE DETAILS

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Do you know you can save taxes with help of home loan taken for buying dream house?Most of us remain worried about high tax burden that we have to bear every year. Any exemptions that can help us pay fewer taxes come as a god-blessing for us. Availing a house loan is one such god-blessing, which not only helps you in buying/ constructing your dream house, but also acts as a shield to reduce your tax expenses.Our today’s blog focuses on highlighting the tax benefits attached with acquiring of homeSEE DETAILS

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Few specified expenditures / investments are reduced from your income, and then tax is calculated on the balance income, so they can be termed as tax saving tools. Let’s take a look at the prominent deductions and how they reduce your tax burden.1. 80C Deductions This is the most popular deduction for the salaried employees. Total Rs. 1,50,000 can be claimed as deduction under 80C. Some of the expenditures/ investments that fall in this section are:Life Insurance Premium LIC premium paid on policy of own, spouse or children is eligibleSEE DETAILS

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Income Tax Saving

Every now and then, an occasional trade may land you on the wrong side of the share market. While it is common to bite some losses in the short term, some smart tax planning may also help you on save some taxes at the same time. The process is simple yet effective. You have to first sell the loss making shares in your portfolio and book the losses on them. Then next day, you can buy back the same stocks to keep your portfolio intact. The loss you make onSEE DETAILS

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We all understand the importance of family. Family members provide crucial support at all times whether it is emotionally, mentally or financially. But we almost always forget the importance of family members while planning our taxes.Taxes can be saved in an effective and completely legal manner by allocating some of our incomes and expense to our family members. Here is how: 1. Pay House Rentals to your ParentsWe often ignore the tax benefits associated when living in your parents’ home. If you are living with your parents, you can claim exemptionSEE DETAILS

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