Plan Your Investment

Finally much awaited budget 2013 is come out without exciting the investors. This budget is very simple and there is no significant change for the tax payers, finally the budget disappoint the middle class people by not increasing the tax slabs. So, one more year with the same income in the rising inflation environment. This [...]

In my earlier posts, I have explained about what is form 16 and form 16a. This is not very difficult for everyone to understand, it is just an document you will be using for filing the income tax returns. Hundreds of readers have posted very basic questions about the topic without reading the complete article, [...]

In my previous article I have explained about the 26AS statement and how to view the statement. if you have a bank account with netbanking facility, then it is not required for you to register separately to view the tax credit statements. The bank itself provides an extra link where you can view the details [...]

26AS statement is provided by the income tax department to all the tax payers as the proof of tax credit statement. If you have paid advance tax, TDS, tax deducted by your employer, etc. all the above tax payments by you should be reflected in the 26AS statement. In the simple words, the statement reflects [...]

It is the time again for you to submit the investment tax proofs for your whole investments made on this financial year. If you are salaried person, you would have already got the remainder from your employer about the submission of investment proofs within a specified timeline. The end date would be this month end. [...]

In my earlier posts, many of the readers has asked about the tax implications of income from winning of lotteries, games show, etc. It is clear that many of us have the wrong opinion on tax calculation of winning prizes. Our income tax act considers winning prizes as special cases, so the normal income tax [...]

Form 16 is one of the important component on filing your income tax. It has been detailed out in my previous article on What is form 16 and form 16a?. If you read the hundreds of comments posted on the article, it shows that there are many readers who are still having the doubts and [...]

Last year central board of direct taxes (CBDT) has announced an exemption for filling the income tax returns if your income is below Rs. 5 lacs. But, it came with the lots of restrictions which makes it is almost impossible for the tax payer to use the exemption. The condition is that if you are [...]

If you are salaried employee in a company, your payslip would have a component called HRA Allowances every month which is given by the companies to all the employees. The purpose of this component is to pay the rent for their house. Also, this is the great component to get the tax exemption if you [...]

In my previous article I have listed down the investment proofs needs to be submitted for this financial year 2011-12. I would be writing in detail about the each topic. This article explores the details of employee provident fund (epf) and how it can be used to show an tax exemption component. It is compulsory [...]