The highlight of budget 2013 for common man was the Tax Rebate of Rs 2,000 for people with income of less than Rs 5 lakhs. This has been made possible by inserting a new section 87A in the Income Tax Act of 1961. I posted the Income Tax calculator for FY 2013-14 and received a …
Budget 2013: Are you eligible for Rs 2000 Tax Rebate under Sec 87A? Read More »
Every budget changes lots of things in the personal finance space. Here is a list of 16 things that has changed for you. 1. Income Tax Slabs for FY 2013-14 The income tax slabs have largely remained unchanged for individuals. There are two major changes. People with income less than Rs. 5 Lakhs have to …
There are two things that have changed for mutual funds in budget 2013. We discuss both one by one. I would start with the good news first. Lower Securities Transaction Tax (STT) on Mutual Funds: The securities transaction tax has been lowered substantially on redemption of Mutual Funds (MF) and Exchange Traded Funds (ETFs) from …
Mutual Funds: Changes in Budget 2013 – Increased DDT, Lower STT Read More »
I have written earlier that this budget 2013 did not tinker much with income tax rates but thankfully has given incentive to buy your first house. The new section 80EE: Until now you could claim deduction on interest of your home loan to maximum of Rs 1.5 lakhs every year [under sec 24 of Income …
Budget 2013: Additional 1 Lakh exemption on Home Loan U/S 80EE Read More »
For a common man there are two major things that we look in budget. One change is income tax and second how the budget is going to impact our household budget. Keeping this in mind here is a list of products and services which got expensive or cheaper. Also Read: Download Income Tax Calculator for …
