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 […]
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 […]
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 , […]
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 […]
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 […]
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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