Tax Exemption limit may be raised to 1.7-2.0 lacs

Today in morning newspaper, I read that in this budget Tax exemption limit may be raised to 1.75-2.00 lacs . What will that mean to a common person like us . It simply means that we will be left with some extra surplus every year . A male who has taxable salary of 4 lacs […]

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How different Products can yield different post tax Returns?

This post will teach you how to take advantage of different products tax rules keeping in mind your income tax bracket. Different products can yield different post-tax returns for people in different tax bracket. FD’s return can be 7.2% post tax for you, but may be its 5.6% for me 🙁 Lets take an example […]

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How to Calculate Capital Gains and What is Indexation ?

In this post we will learn How to calculate Capital Gains or Losses. A lot of people make mistake in this . If you buy a house in 1995 at Rs.10 lacs and sell it at Rs.20 lacs in 2009. On how much profit will you pay the tax? If your answer is Rs.10 lacs , […]

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Why you should Plan your Taxes at the start of the Year?

Most of the people take care of there 80C at the end of the year around Jan-Mar . Ideally it should be at the start of the year . Let us see why its should be done at the start of the year itself to plan your taxes. Following are the 4 most important reasons […]

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How to use losses to reduce income tax?

Are losses good? Do they have any benefit? When you make a loss, do you feel it has nothing to provide or not at all beneficial. The answer is NO! Losses are bad, but our tax laws gives us a way to utilize them in such a way that we can reduce our income tax […]

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Tax Exemptions Rules , Who is included and who is not

Following is a chart showing the list of people for whom you can claim deductions for tax exemption . For example, if you pay LIC Insurance premium , you can claim if got premium paid for Yourself Spouse Children For further details … see this table … Click to enlarge it .. To know about […]

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