Joint Home Loans and Tax Benefits
Intro
In my previous blog I have written about the Home Loans and Tax Benefits. It covers most of the part in utilizing the Tax Benefits, If you are applied for the Home Loans. But, the mentioned blog overs only about the individual Home Loans and not explaining anything about the Joint Home Loans. By applying [...]
Home Loans and Income Tax benefits
Intro
In this article I am writing about the Home Loans and how to get the maximum benefits on Tax Savings. If you are not aware, Home Loans are the best source for Tax Savings plan. You cannot use Car Loans, Personal Loans or any other loans for the Tax Savings plan. But, still many people [...]
Websites to Apply for Bank Loans
Intro
There is lots of websites available for Applying Loans. These website are not belongs to any bank, but they will be sending the users details to the various banks and then bank will contact the customer. The advantage of using these website is we have option for getting contact to many banks and also we [...]
How to apply for a PAN card?
Personal Account Number(PAN) is mandatory for all who are coming under the Income Tax liability. To pay the TAX to indian government, you must attain PAN card first by applying through filling PAN card application. It is also compulsory to quote PAN in all documents pertaining to economic or financial transactions notified from time-to-time by [...]
What are the documents required for PAN application?
Along with Form 49A, you need to attach the following documents:
(i) Proof of Identity – Copy of any one of the following:
a. school leaving certificate
b. degree certificate
c. depository account
d. credit card
e. bank account
f. water bill
g. ration card
h. property tax assessment order
i. passport
j. voter identity card
k. driving licence
l. certificate of identity signed by a MP/ MLA/Municipal Councillor/ Gazetted Officer
(ii) Proof of Address – Copy of any one [...]
Factors needs to consider for computing taxable income
The following factors need to be taken into consideration for the computation of total income:
(i) Residential status: This will determine what kinds of income of an assessee are taxable in India. It is important to remember that residential status is different from citizenship, and that it has to be determined separately for every assessment [...]