Why should you file IT returns?
Introduction
In this article I will be writing about the few facts why it is necessary to file the IT returns. How ever there is no strict rules to file the IT returns, many people not taking this as the serious matter. That attitude should be changed and every one must file the IT returns. In [...]
Perquisites will be taxed from 1st April, 2009
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 [...]
Income from Minor Child
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 with [...]
Top 6 rules when filing tax returns is compulsory
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 [...]
Tax Savings on Health Insurance
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 Section 80 D
2. Who [...]
What is TDS and TAN?
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 behalf [...]
Tax Benefits on Land Loans
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 eligible [...]
Income Tax for Agricultural Income
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 you [...]
Tax Planning for 2009 – Part 2
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 the [...]
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 and [...]
