New Tax Slabs for Individuals (Budget 2010-11)
It is good time for the common man when the union finance minister announced the new tax slabs for the common man. The new slabs will definitely reduce the burden of common man and it will be some relaxing news for them because already inflation is soaring to new high. The following table shows the [...]
Petrol and Diesel Prices increased from tonight (Budget 2010-11)
The government has announced a hike in the prices of auto fuels like petrol prices by Rs 2.67 per litre and diesel prices by Rs 2.58 per litre with effect from tonight.
Expected Changes on Tax Savings Fixed Deposit (Union Budget 2010-11)
This budget may bring the smiles in people who are looking to invest their money bank deposits and save the tax. Most likely this budget may amend the existing restrictions on tax saving fixed deposits. Nowadays most people prefer the mutual funds as the tax savings instrument because of their 3 years lock-in period. Tax [...]
Budget 2009 Highlights
Yesterday Union finance minister announced the Budget for 2009-2010. This blog summarize the important points on the budget. Silver to cost more. Tax to be levied on Law Firms. Textile units to receive tax holiday. LCD TVs to cost less. Custom duty on LCD TVs cut from 10% to 5%. Set-Top Boxes to cost more. [...]
Income Tax Exemption Limit Raised (2009-2010)
THE Finance Minister, in today’s budget speech, announced marginal tax benefits for individual tax payers. He increased the basic exemption limit for male taxpayers and female taxpayers by Rs 10,000 and that of senior citizens by Rs 15,000. Further, he abolished the surcharge of 10% on income over Rs 10 lakh. The new tax slabs [...]
Changes in Residential Rentals
Is it a good time for those living in rented apartments? Your location could well be the answer to that. While some pockets in the country are showing an upswing in rentals, other micro-markets are witnessing a reverse downward movement. Leading real estate consultants say that the residential rental market has been moving in tandem [...]
Tax Planning for 2009 – Part 1
Introduction I will be writing about the Tax Planning for the year 2009. How ever the budget is not yet announced, we have to wait till the election is getting over. But, learning some tips for the tax savings is important before submit your tax declarations. If you have not saved anything before forget it [...]
What is Credit Counseling?
Introduction In this article I will be writing about the credit counseling. It is a process offering education to consumers about how to avoid incurring debts that cannot be repaid. This process is actually more debt counseling than a function of credit education. Please post your comments after reading this article. You can subscribe to [...]
Home loan interest Exemption may be hiked to Rs 2lakhs
The interim budget to be announced on Monday could bring some cheer to consumers and investors as acting finance minister Pranab Mukherjee may use the opportunity to announce one more stimulus package in the form of targeted tax incentives. Sources in the government told TOI that Mukherjee may announce tax sops aimed at boosting the [...]
EPF (PF) Transfer and Form 13
Introduction In this blog I will be writing about the EPF or PF transfer from the one employer to another employer and what is the use of Form 13 . Job change is very normal in these days, so it become common for every one to transfer their Provident Fund(PF) to the new employer’s organisations. [...]
