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 →
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 →![Income Tax Calculator for FY 2020-21 [AY 2021-22] - Excel Download](https://www.apnaplan.com/wp-content/uploads/2020/02/Income-Tax-Calculator-for-FY-2020-21-AY-2021-22-Excel-Download-100x100.png)
Download Excel based Income Tax Calculator for FY 2020-21 [AY 2021-22] incorporating new and existing tax regime/slabs. You can find out which regime suits you 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 salary consists of lot of components, some of them are fully taxable, and some are partially taxable while remaining is tax free and hence Salary structure become very important. Here is a list of 11 components in your salary that is tax free. In case you have it in your pay slip, great – […] Continue reading →
What is the Maximum Income Tax I can save for this Year (FY 2019-20)? A question I am often asked. Tax laws keep changing year on year especially in Budget. We publish eBook every year after budget which tells you about all tax saving options that are available to an individual (both salaried & business). In this post […] Continue reading →
Few people while taking up a new job have the flexibility to work as an employee or independent consultant (also known as contractor or freelancer). If planned properly consultants have lower tax outgo for the same CTC (Cost to company). With Budget 2016 introducing presumptive taxation for some professionals like legal, medical accountancy, architect, IT […] Continue reading →
SIP (Systematic Investment Plan) or Lump sum – Which is the Best way to invest in Mutual Fund? Which investment method would lead to higher returns? A question asked by almost all new investors. We help you find an answer to this eternal debate. SIP was introduced by Franklin Templeton Mutual Fund more than 15 […] Continue reading →
Tax Saving Fixed Deposits one of the most popular way to save taxes u/s 80C of income tax. These are like normal Fixed Deposit with banks but is labeled as “Tax Saving FD” while making the deposit. Why you Should Invest? Convenient to invest. ICICI Bank, SBI, HDFC Bank, etc offers online facility for Tax […] Continue reading →
Once the ITR is submitted and verified by the tax payer, the department goes through every return in automated/manual fashion to check if everything was correct and matches with the data available with them. In case they find a wrong/doubtful entry or have further questions about any declared or undeclared income or deduction or exemption, […] Continue reading →
The post lists down the rate of interest on Bank fixed deposits as of February 8, 2020. 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 Most big banks like SBI have lowered their FD rates. Most banks […] Continue reading →
RBI on September 2015 had granted licence to 10 Small Finance Banks. Lately these banks have been in news for offering higher interest rates on their fixed deposits as compared to regular banks. In this post we would tell you whats on offer by small banks and if you should invest and bank with them! […] Continue reading →
In last few weeks I have got several mails and comments asking about the tax benefit on NPS. This post explains the tax deduction availa/ble for NPS under 3 sections: 80CCD(1), 80CCD(2) and 80CCD(1B). Tax Benefit on NPS Tier 1 and/or 2? NPS has two Tiers – 1 and 2. NPS Tier 1 is the […] Continue reading →