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 2017-18 (AY 2018-19) 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 →
As the last date of filing Income Tax Return is fast approaching, most tax payers would have filed their ITR. However the filing is only complete if it has been verified by the tax payer. Until a few years back there was just offline mode to verify your returns – making it a cumbersome process […] Continue reading →
The due date for filing income tax returns for individuals is July 31, 2018 (until its extended). The deadline is fast approaching and most taxpayers have already filed their ITR or in process of doing so. However there are people who may not be able to file their returns before due date or are too […] Continue reading →
ECL Finance Ltd. has come out with public issue of non-convertible debentures (NCD) offering up to 9.85% interest rate. The issue opens on July 24 and closes on August 16, 2018. ECL Finance Ltd is a non-banking finance company, focused on offering a broad suite of secured corporate loan products, retail loan products which are customized to […] 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 available 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 →
For tax payers with income from salary, the ITR (Income Tax Return) Forms applicable for AY 2018-19 (FY 2017-18) asks for salary details and breakup. Until last year the ITR forms only asked for the taxable part of salary but this year it asks for following 5 salary details: Salary excluding allowances, perquisites and profit […] 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 20.6% or 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 […] 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 →