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 →
We have always stated that Mutual Funds are one of the best ways to create and manage wealth. It’s convenient, low cost, well-regulated, transparent and gives benefit of diversification. Starting January 1, 2013 SEBI had mandated all fund houses to have two version of each scheme – Direct & Regular. Direct vs. Regular: As the […] Continue reading →
Can I claim Tax Benefit for both HRA & Home Loan? – A question which is often asked by many tax payers. This is mainly because many employers do not allow both tax benefits together in certain situations. Unfortunately this is NOT the right thing to do. Both HRA and Home Loan Interest tax sections […] 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 →
ELSS (Equity Linked Saving Scheme) or Tax Saving Mutual Funds are one of the best investment options for tax saving u/s 80C. These ELSS funds invest mainly in equities making them one of the best investments for long term wealth creation. Why Invest in ELSS? High Returns: Of all the tax saving investments ELSS has […] Continue reading →
I have received some queries asking, “Is it compulsory to file income tax return (ITR) if the income is less than Rs 5 lakhs?” I understand why there is so much confusion. We explain who needs to compulsorily file tax return and who are exempted from the same. 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 20.8% 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 must save […] Continue reading →
Amazon Pay ICICI Bank Credit Card is an excellent credit card as its free for lifetime, gives up to 5% cashback on amazon shopping and 1% cashback on other spending. Continue reading →
We have compiled an Excel based Capital gains calculator for Property based on new 2001 series CII (Cost Inflation Index). It calculates both Long Term and Short Term capital gains and associated taxes. You need to feed your property sale & purchase date along with values. There is option to include cost of repairs/improvement that […] Continue reading →
OLA Credit card seems to be more rewarding than recently launched Paytm First Credit Card as it offers more cashback options, the easy application process, first-year free credit card and welcome gifts which you would miss in Paytm credit card. Continue reading →