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 →
One of my friends called me in a worrying voice telling me he had received an email from Income tax department with subject “Intimation U/S 143(1) for PAN ABCxxxxx4A AY:2019-20”. As with most of us, any communication from taxmen makes us worried and it was not much different for my friend. Are you in the […] Continue reading →
NSC (National Saving Certificate) is popular tax saving investment under section 80C. It has maturity of 5 years and is guaranteed by Government of India. This post lists the significant features of NSC, tax benefit, taxation, loan available, etc Interest Rate on NSC: As of today (for April to June 2019 quarter) NSC gets 8.0% […] Continue reading →
Buying Life Insurance is a complicated process. It involves so many decision points. To start with you need to figure out how much insurance you need? Which is the best life insurance company? Once you are done with these the next question is what type of insurance plan to buy – endowment, ULIP or term […] Continue reading →
Gratuity is paid to employees by their employer at the time of retirement/resignation or in case of death and disability. We share the formula to calculate gratuity and how it is taxed Continue reading →
Its June and most of the recruits from the campus would have joined or going to join in few months on their first job. Its a moment to rejoice and for many a first time experience of earning money. But Net-worth of a person is not by what he earns but by what he saves and […] Continue reading →
All salaried have different type of leaves namely: Sick Leave, Casual Leave, Earned/Privilege leave, etc. If employees take lesser leaves than they are eligible for, most employers encash the left over leaves either annually or at the time of leaving the company. Of all types of leaves only earned or privilege leave is encashable. Leave […] Continue reading →
Step by Step Instructions (with screenshots) on how to fill Details of Income from Salary in ITR Forms using revised Form 16 Format. Continue reading →
Taxation plays a very important role in the returns generated by your investment and so you should know how the investment is taxed before you choose one. We list down the most common investments and how they are taxed? Fixed Income/Debt Investments: 1. Saving Bank Account: Interest earned in Saving bank account up to Rs […] Continue reading →
The post lists down the rate of interest on Bank fixed deposits as of June 1, 2019. You might want to bookmark this page as the FD interest rates would be updated every month. Would help you in better decision making. Fixed Deposit Highlights SBI has changed its FD rates. It has increased for 1 year […] Continue reading →