Plan Your Investment

If you are a salaried person, you will get the Form 16 from your employer to file the IT returns. Form 16 is the form which shows the details of your total income and how much tax deducted by your employer. It is the duty of your employer to provide the Form 16 for every [...]

Today’s post is response to question received from our reader. The topic is how to transfer the PF balance and opening the PPF account. Please write your questions here. Question : 001 Hi, This query is regarding the PF transfer. When i left my previous employer, it was in integration with another company. Hence out [...]

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 [...]

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. [...]

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 [...]

In my previous article I have explained about the HRA and Tax Benefits. This article explains the HRA exemption for tax savings and how to calculate the allowed limit for HRA exemption. But, doesn’t talk much about the rules or different scenarios involved while applying for the HRA deduction. The scenarios may not be the [...]

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 [...]

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 for [...]

When you open a fixed deposit account in  the bank, the interest paid for the deposit will be taxable income and the banker will deduct the tax at source and pay you the remaining income to your account. This process is called as Tax Deduction at Source(TDS). If you are liable to pay the taxes, [...]

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 [...]