Budget 2019 has made some changes to Income tax for individual – the highlight being full tax rebate for individuals earning below Rs 5 Lakhs. There has been no changes in the income tax slab. We highlight the changes and give you the new tax calculator for FY 2019-20 [AY 2020-21]. Changes in Income Tax Rules: […] Continue reading →
How to Save Income Tax – a question that is often asked by my friends, family and blog readers. The problem is there are multiple sections for people to know and if they have heard about it to check if its applicable to their case or not? To help both salaried and professionals to plan their tax, we have come up with the eBook “How to Save Tax for FY 2019-20”. This is a short 41 slide power point presentation (in pdf) which covers all the tax saving sections and investments applicable for tax payers. Continue reading →
Salaried class have always complained of raw deal year after year in income tax laws. But the good news is you can still manage to pay Zero (NIL) income tax on salary of up to Rs 20 lakhs (Salary here means cost to company). All you need to have is right salary structure and invest […] Continue reading →
The long-term capital gains from property can be huge especially if the asset was held for really long term. These gains are taxed at 20% + cess (effectively 20.8% from FY 2018-19) which can cause a major dent in the amount received on sale. So if we have an option to save, we must save […] Continue reading →
Investing in stocks in the fastest way to double your money but also the riskiest. However KVP (Kisan Vikas Patra) is safest but takes 9 years 5 months to double the money Continue reading →
Can I claim Tax Benefit for both HRA & Home Loan? – A question which is often asked by many tax payers. This is mainly because many employers do not allow both tax benefits together in certain situations. Unfortunately this is NOT the right thing to do. Both HRA and Home Loan Interest tax sections […] Continue reading →
NPS is good tactical investment for senior citizens only if you are investing to save tax u/s 80CCD(1B). Also you are in highest tax bracket right now and think that while withdrawing the NPS maturity amount you would be in lower tax bracket – which often happens after retirement. Continue reading →
The government wants NPS (National Pension Scheme) to be the preferred investment vehicle for pension planning for majority of its citizens. Unfortunately as it happens with most of Government plans, NPS too has flaws which are holding investors back. To encourage investment in NPS, PFRDA (Pension Fund Regulatory and Development Authority) which regulates it have made […] Continue reading →
I often get request to calculate income tax for readers and how they can save more tax! It’s not possible for me to calculate it for everyone. So going forward I would pick cases and show how to calculate income tax and if there is scope to save additional tax. Below is the comment I […] Continue reading →
Your income from salary, business or other income like income from fixed/recurring deposits etc are taxed as per income tax slabs. Full Budget 2019 presented on July5, 2019 has made NO changes in the tax slab. The announcement that individuals with income up to Rs 5 Lakh would get full rebate is through Section 87A. There […] Continue reading →
We love to Save taxes and one of the ways to save on Long term Capital Gains Tax on Real Estate is to invest in Capital Gains Tax Saving Bonds u/s 54EC from NHAI, REC, IRFC or PFC. Below are few rules to avail this tax exemption: 1. Only Long Term capital gains from Real […] Continue reading →
Sukanya Samriddhi Yojana is a very popular deposit scheme for girl child guaranteed by Government of India. Download excel based sukanya samriddhi calculator which would help you calculate the maturity value and plan investment for your girl child accordingly Continue reading →