Gift to Family members – 3 awesome tips to save income tax legally
Most of the people in India try to save income tax by investing the money in their spouse, children and parents name. We are going to explore this topic more deeper and help you understand the exact rules applicable and how you can save more tax legally, by gifting money to your family members. Majority […]
Everything you wanted to know about Advance Tax and Penalties under it
Are you paying your income tax only at the end of the financial year ? If your answer is YES, then understand that you are doing it in wrong manner. Today we will learn about Advance Tax which is not widely understood and its quite important thing to know. I know that majority of the […]
Everything you wanted to know about Income Tax Notice and scrutiny cases ?
If you are a taxpayer then you must have heard the recent news about Income tax department’s drive by keeping a close eye on all your transactions. Even the salaried employees are on the radar. Department has already identified 12 lakh taxpayers who have not filed their returns, more than 20 Crores high value transactions […]
Does your Income tax website account have your CA phone number ? You can now claim it back
Let me start by sharing with you what was the situation of millions of tax payers in India till now. If they wanted to do e-filing and went to income tax website and tried to login to their account, they failed at it, because they did not have the password, because it was created by […]
How you will save more Income Tax compared to last year due to Budget 2014 (Download Calculator)
Budget 2014 was a big event this year as the expectations from BJP govt was very high. Here are some of the income tax rules which were changed int his budget and impact a common man directly. 1. Income Tax Exemption Increased from 2 lacs to 2.5 lacs The basic exemption limit was raised by […]
Rs 10,000 Income Tax Exemption on Saving Bank interest – Sec 80TTA
You can now save tax on an additional Rs 10,000 that you earn from savings bank interest. In the financial bill 2012, A new section called 80TTA was added to the Income Tax Act – 1961. This section allows an income tax deduction of up to Rs 10,000 to an individual or a HUF for […]
Get your Income Tax Return Prepared by TRP at Home for FREE
Do you know that Income Tax Department offers your tax filing services at your door step with help of a trained and certified professional who can help you with tax filing and in many cases totally FREE of cost or at a small fees ? Let me introduce to the concept of TRPS (Tax Return Preparer […]
Tax saving investment declaration to Employer – How does it Work ?
Every year, when the new financial year starts, employers ask their employees to declare their investments and give an idea about where will they invest to save the tax. There is a page on the companies’ websites, where each employee has to declare their investments. Come of the examples of the target options are life […]
The Biggest and Most Detailed Guide on – Income Tax Return Filing FAQ’s (ITR)
Do you have some doubt on Income Tax Return Filing Process or some question whose answer you are not getting anywhere? This post might be the end of your struggle. Few weeks back, we ran a survey and asked investors to send us their queries and doubts on Income Tax Return Filing, whatever it may […]
TDS Guide – Everything you want to know about Tax Deducted at Source
A lot of investors still do not understand what is the meaning of TDS (Tax Deducted at source) is and how it’s related to their taxation. While the concept is very easy overall, I have seen that tons of investors still get confused when TDS is cut on their Fixed Deposits at maturity and they […]
