Finance Minister Piyush Goyal has proposed many changes in tax rules in Budget 2019. We present you 5 key changes that would impact all income tax payers. Increased Tax Rebate u/s 87A: While making the budget speech, Finance Minister said that people with taxable income of Rs 5 lakh would get full tax rebate. Many […] Continue reading →
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 →
Your income from salary, business or other income like income from fixed/recurring deposits etc are taxed as per income tax slabs. Budget 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. Rebate under Section 87A changed […] Continue reading →
Budget 2018 has made some changes to Income tax for individual. There has been no changes in the income tax slab, however there have been some changes related to salaried/pensioner tax payers and senior citizens. We highlight the changes and give you the new tax calculator for FY 2018-19 [AY 2019-20]. Changes in Income Tax Rules: […] Continue reading →
We are releasing the eBook on Tax Planning which tells you how to save income tax for FY 2018-19 (AY 2019-20) for both Salaried and Professionals. This is a short 43 slide power point presentation (in pdf) which covers all the tax saving sections and investments applicable for tax payers. But before that lets look […] Continue reading →
Equity Mutual Funds are one of the best investments to generate wealth in the long run while Debt mutual funds are more suited to park money for the short term (as an alternative to fixed deposits). But as in case of any investment, the final returns are determined on the way these Mutual Funds are taxed. This post […] Continue reading →
Retirement planning is one of the most important financial goals in life of a person. Most of us have heard about Employee Provident Fund (EPF) and (Public Provident Fund) PPF for building retirement corpus but do you know how can you leverage Voluntary Provident Fund (VPF) to add zing to your corpus? What is Voluntary […] Continue reading →
As of today most banks like SBI, ICICI Bank, Union Bank of India, Punjab National Bank (PNB) offer 3.5% interest on their saving bank account. This all started with SBI slashing interest rates on savings account to 3.5% on July 31, 2017 for balance less than Rs 50 Lakh. Reserve Bank of India (RBI) had deregulated the […] Continue reading →
PPF (Public Provident Fund) is one of the most popular and probably one of the best investment options in India. And rightly so because of the features, tax benefit and almost risk free returns that it offers. In this post we discuss everything you wanted to know about PPF. Who can Open PPF Account? Any […] Continue reading →
With the wider acceptance of Credit cards and the convenience it offers, it sometimes become necessary to have credit cards. But not everyone is eligible to have one and banks may deny credit card due to reasons like poor credit score, no regular income, and low salary among many others. Credit card against Fixed Deposit […] Continue reading →
We have always encouraged our readers to invest in equity mutual funds through SIP (Systematic Investment Plan). This basic idea of recommending SIP is it automates your monthly investment, taking emotions out and hence encourages regular saving. SIP as a concept has become very popular but many people have some common misconceptions about SIP. In this […] 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 →
Section 80GG is one of lesser known sections which can be used by taxpayers to lessen their tax burden by claiming tax exemption for rent paid (in case HRA is not part of salary). This section can be used by be either salaried/pensioner or self-employed tax payers. Conditions for Claiming Tax benefit u/s 80GG for Rent […] Continue reading →
Muthoot Finance, the dominant player in Gold Loan Business has come out with public issue of non-convertible debentures (NCD) offering up to 10.00% interest rate. The issue would open on February 14, 2019. Muthoot Finance NCD – Significant Points: Offer Period: February 14 to March 14, 2019 Annual Interest Rates for Retail Investors: 9.25% to 10.00% depending on […] Continue reading →