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 →
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 →
EPF Subscribers can easily withdraw (Non-refundable PF Advance) money partially for certain situations like marriage, education, buying house/land, on unemployment, medical treatment and much more .. 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 →
The good thing is most part of ITR Form for AY 2019-20 is similar to last year, only with increased disclosures for some cases. The new forms incorporate changes in tax laws last year. Continue reading →
Step by Step instructions (with screenshots) to file income tax return using ITR-1 for Pension and Fixed Deposit Income for Senior Citizen for AY 2019-20. 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 →
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 →