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Taxes

Should you Invest Rs 50,000 in NPS to Save Tax u/s 80CCD (1B)?

Invest in NPS to Save Tax Budget 2015 had introduced a new section 80CCD (1B) which gives deduction up to Rs 50,000 for investment in NPS (National Pension Scheme) Tier 1 account This new deduction can help you save tax up to Rs 15,600 in case you are in the 30% tax slab. The question is should you take advantage of this […] Continue reading →

Income Tax Warning to Salaried Taxpayers: 11 things every Taxpayer should be careful about!

Income Tax Warning to Salaried Taxpayers A few days back (on April 16, 2018) Income Tax Department issued cautionary advisory to Salaried Taxpayers about under-reporting of income and inflating deductions/exemptions while paying taxes. This was prompted by some of the recent cases of salaried caught by income tax officials. You can read the advisory below: Also Read: Everything you need to […] Continue reading →

How to Save Income Tax for Salaried and Professionals for FY 2018-19?

How to Save Income Tax for Salaried and Professionals for FY 2018-19 We are releasing the eBook on Tax Planning which tells you how to save income tax for FY 2018-19 (AY 2019-20) 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 →

Voluntary Provident Fund – A Good Tax Saving Retirement Option!

VPF - A Good Tax Saving Retirement Option Retirement planning is one of the most important financial goals in life of a person. Most of us have heard about Employee Provident Fund (EPF) and (Public Provident Fund) PPF for building retirement corpus but do you know how can you leverage Voluntary Provident Fund (VPF) to add zing to your corpus? What is Voluntary […] Continue reading →

Section 87A – Most important change for Income Tax Payers in Budget 2019

Section 87A - Tax Rebate for Income below Rs 5 Lakh - Budget 2019 Section 87A was introduced in Budget 2013 and it provides marginal relief to small tax payers. In this post we provide details about the eligibility, the benefits and how it has changed since it was first introduced. Section 87A Eligibility: The tax rebate under section 87A is only available to resident individuals with net taxable […] Continue reading →