Plan Your Investment » Income Tax

Tax Exemptions on Home Improvement Loans

krishnas — Sun, 06 Jun 2010 05:03:10 +0000

Introduction In this article I will be writing about the tax exemptions for the home improvement loans. I have written many articles related to the home loans and income tax benefits. There are two sections talking about the home loans and tax exemptions related topics. One is Section 80c (Home Loans Principal Payment) and another [...] Related posts:

File your IT returns with Paisaa.in

krishnas — Mon, 15 Mar 2010 07:00:46 +0000

Introduction In my previous articles I have explained the details about the IT returns and why filing IT returns is very important. I have not mentioned anything about the filing IT returns online by using the website. In this article I will be writing about one of the popular website in that area and it [...] Related posts:

PNB Tax Saver Fixed Deposit Scheme

krishnas — Wed, 13 Jan 2010 07:00:20 +0000

Tax Savings Fixed Deposit I have written posts about the tax savings fixed deposit and why the fixed deposit is good for the monthly income. This will be suitable when the interest rates of the fixed deposit is high. In the recent times, all the banks have reduced the fixed deposit interest rates very low [...] Related posts:

Perquisites will be taxed from 1st April, 2009

krishnas — Thu, 24 Dec 2009 07:00:33 +0000

It is hard time for the salaried people. Income Tax India has just send the notification for collecting the tax for perquisites availed by the employees since 1st April, 2009. We already know that budget 2009-10 announced the removal of Fringe Benefit Tax(FBT) , but, the exact rate at which it will be collected is [...] Related posts:

How to Know Status of ITR V ?

krishnas — Wed, 16 Sep 2009 07:00:31 +0000

Introduction In this article I will be writing about how to find the status of ITR V form. You have to submit the ITR V form to the Income Tax office in Bangalore to complete the e-filing of Tax Returns. The time limit for submitting the ITR V has been extended to September 30, 2009. [...] Related posts:

How to apply PAN card from abroad?

krishnas — Sun, 06 Sep 2009 07:00:28 +0000

Introduction In this article I will be writing about the steps to get the PAN card while you are staying in abroad. It is simple to get the PAN card even if you are NRI staying in the abroad, you need not come to India for applying the pan card. This blog post explains the [...] Related posts:

Income From House Property

krishnas — Sun, 30 Aug 2009 07:00:55 +0000

Introduction In this article I will be writing about the income from house property. If you have a individual house or appartment which you gave for the monthly renatal, the income arise from such property is considered as the other income and will be shown in the income tax returns. But, there is deductions and [...] Related posts:

Time Limit For Filing ITR-V Form Till 30th September

krishnas — Mon, 17 Aug 2009 14:53:37 +0000

The Central Board of Direct Taxes had, vide circular No.3/2009 dated 21.05.2009, allowed assessees who file their income tax returns in electronic form without digital signature to submit their verified ITR-V form, within a period of 30 days, thereafter. The ITR-V form was required to be sent to Post Bag No.1, Electronic City Post Office, Bengaluru, Karnataka-560100, [...] Related posts:

New Tax Code to be UnVeiled

krishnas — Sun, 16 Aug 2009 04:27:22 +0000

In this post I am writing about the new tax code which will be announced by the next budget. The news about the new tax code looks very good and it is heaven for the salaried people because it is mostly benefited from the salaried professionals by slashing the Tax Rates. Lets look into the [...] Related posts:

Income Tax Exemption Limit Raised (2009-2010)

krishnas — Mon, 06 Jul 2009 08:29:43 +0000

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 [...] Related posts:

Tax exemption limit may go up in UPA’s govt

krishnas — Thu, 21 May 2009 07:17:50 +0000

The full budget to be presented by the new government in the forthcoming session of Parliament to begin sometime next month may come packed with some concessions for the middle class by way of raising the tax exemption limit to up to Rs 1.75-Rs 2 lakh from the current Rs 1.50 lakh. The other benefit [...] Related posts:

Income from Minor Child

krishnas — Sun, 10 May 2009 02:15:33 +0000

Introduction In this article I will be writing about clubbing the income from minors. If the person age below 18 is considered as minor and he/she is not eligible to submit the income tax under the Indian Income tax act except certain exceptional cases. If a minor is earning income, then it will be clubbed [...] Related posts:

Top 6 rules when filing tax returns is compulsory

krishnas — Sun, 26 Apr 2009 03:30:14 +0000

As we know that the filing of tax returns date is nearing. Many of us have doubts that is it mandatory to file the tax returns?. Even if it is not mandatory, better to file the tax returns to avoid any future legal implication. However government has made six rules when the filing of tax [...] Related posts:

Tax Savings on Health Insurance

krishnas — Wed, 15 Apr 2009 06:17:48 +0000

Introduction In this article I will be writing about the tax savings through health insurance policies. Under section 80 D, one can claim the tax benefits for his medical insurance premium. All the medical insurance premiums applicable under the tax deduction. Tax Planning for 2009 1. Section 80 D The deduction will be shown under [...] Related posts:

What is TDS and TAN?

krishnas — Wed, 15 Apr 2009 03:56:47 +0000

Introduction In this article I will be writing about the Tax Deduction at Source(TDS) and the rate for some of the TDS. We all aware that we need to pay the Income Tax for our income. In some cases the employer will be taking care of paying the total tax amount to the government in [...] Related posts:

Tax Benefits on Land Loans

krishnas — Thu, 09 Apr 2009 05:13:13 +0000

Introduction In this article I will be writing about the land loans and the tax benefits involved in land loans. Not all the land loans are eligible for tax benefits, there is certain regulations to get the benefits on loan repayment of the land loans. Many people are assuming that only the home loans are [...] Related posts:

Income Tax for Agricultural Income

krishnas — Thu, 09 Apr 2009 02:00:13 +0000

Introduction In this article I will be writing about the tax implications on the agricultural income. First of all you need not pay the tax for any agriculture income. When you have other sources of income, agriculture income will be clubbed to the total income and give you higher rate for the income tax. If [...] Related posts:

Tax Planning for 2009 – Part 2

krishnas — Sun, 05 Apr 2009 07:00:52 +0000

Introduction Earlier I have published Tax Planning for 2009 – Part 1. The previous post explains the basic stuff on tax savings using the home loans and the fixed deposit schemes. It doesn’t look into any specific section of the income tax act. This part of the article will be looking into section 80c of [...] Related posts:

Tax Planning for 2009 – Part 1

krishnas — Fri, 27 Mar 2009 07:00:48 +0000

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 [...] Related posts:

Should I pay taxes for capital gains?

krishnas — Mon, 16 Mar 2009 15:03:16 +0000

Introduction In this article I will be writing about the tax liability on capital gains. Here I mean capital gains is the profit which you are making from selling your fixed assets like land or houses. Most of the people think that the profit from selling the propety doesn’t come under the tax liability. That [...] Related posts:

What is EMI and pre-EMI?

krishnas — Tue, 10 Mar 2009 15:51:37 +0000

Introduction In this article I will be writing about the difference between EMI and pre-EMI. Most of the people heard about the EMI, not aware of the pre-EMI and the benefits involved in the pre-EMI. In this article we will look into more details about the pre-EMI and in what situation pre-EMI can be benefited [...] Related posts:

Income Tax Exemption on Donations (NGO) under Section 80g

krishnas — Mon, 02 Feb 2009 05:16:18 +0000

Introduction In this blog I will be writing about the Section 80g which presents the laws for tax exemtions on donations and fund spent on the NGOs. You will get the tax exemptions benefits when there is a donation for NGO’s. This law would encourge people to donate more fund for NGO’s and most of [...] Related posts:

No need to submit proofs for LTA

krishnas — Thu, 29 Jan 2009 08:08:18 +0000

Employers, while assessing the conveyance and leave & travel allowance (LTA) claims of their staff, are under no statutory obligation to collect supporting evidence and furnish them to tax authorities, the Supreme Court said on Wednesday. A bench comprising Justice SH Kapadia and Justice Aftab Alam said that assessee employers are under no statutory obligation [...] No related posts.

Income Tax Exemption and Rules on Gifts as Income of Source

krishnas — Tue, 20 Jan 2009 03:55:02 +0000

Introduction In this blog I will be writing about the Income Tax rules related to the Gifts received by a person. There is many rules on receiving the Gifts based on the gifts nature and from whom the person has received the gift. The Income Tax Act 1961 has made change to the rules in [...] Related posts:

Home Loans and Income Tax benefits

krishnas — Mon, 08 Dec 2008 03:25:29 +0000

Introduction 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 [...] Related posts: