Plan Your Investment

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 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 [...]

Introduction In this article I will be writing about the some important points to consider while filing the tax returns. The last date for filing the Tax Returns is 31st July,2011. So, please don’t rush in the last minutes. This article will add few points while filing the income tax returns. If you have any [...]

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 [...]

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 [...]

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 explaining about the tax declaration for House Rent Allowance(HRA). If you are employed in any company you would have got request from your employer to update the Tax Planning and Declaration for 2009 – 2010. Then you can declare tax savings on Section 80c for Rs.10000 and home loans if [...]

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 [...]

It is common that students seeks loans for their education. Many people not aware that the education loans can be used for the tax deductions. From April 2007, the loans taken by self or parent or spouse is also deductible under the tax. There is separate section 80E to provide the tax exemption on the [...]

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 [...]