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Income Tax Refund Scam

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A new internet scam in form of income tax refund mail to empty your hard earned money from your bank account is on the prowl.

A salaried person is most afraid of Income Tax Department and even more if he receives a notice from the department...

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PF account

After a long haul, a much awaited step has been taken by the Employee Provident Fund Organization (EPFO) to make online transfer of PF accounts, when an employee switches job from one company to another. This step will benefit over 13 lakh PF subscribers and also reduce the long time taking process and confusion.
After getting a huge response for the online verification of balance in PF account the Employee Provident Fund
Organization (EPFO) has taken this step to test the online transfer of acc...

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Public Provident Fund PPF

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Public Provident Fund

Public Provident Fund (PPF) – Things To Know Before Investing.

If you are looking for a long term investment, which is not only safe but also offers growth with added advantage of being tax free then, Public provident fund (PPF) is the best option available to you. Public Provident Fund (PPF) is one of the most popular tax-saving schemes, which can be opened in a post office or designated bank branches.

Following are the key features of PPF which you must know before you plan to invest in this...

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House Rent Allowance (HRA)

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House Rent Allowance

House Rent Allowance (HRA)

HRA or house rent allowance is provided to employees by its employer for meeting the cost of rent paid when staying in a rented accommodation for discharging his services as an employee. HRA is a part of the salary package, in accordance with the terms and conditions of employment. The Income Tax Act allows for deduction in respect of the HRA paid to employees...

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Income Tax Rates/Slab for F.Y. 2012-13 (A.Y. 2013-14)

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Income tax rates, Tax slab

Income Tax Rates or Tax Slab

Financial year 2012-13 is about to end on 31st March, 2013 and there is an obvious rush among salaried employees to make investment according to income tax rates and save as much income tax possible under Section 80C of the Income Tax Act, 1961. Employees are asking colleagues about income tax rate their investment plans or asking for suggestion to get maximum deduction as well as maximum return from the investment.

Before that it is even more important to know as t...

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How to pay Income Tax Online in 5 simple steps !!!

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Online Tax Payment

Income Tax Act and Income Tax Department, both have undergone sea depth changes. Manner of preparing return as well as filing has totally changed with advent of new technology.We can pay Income Tax online in no time without waiting in a line.

Information Technology has changed the way of working of not only how the Income Tax department works but also how the taxpayers pay taxes and prepare and file return...

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Cost Inflation Index (For Capital Gains)

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In case of capital gains when long term capital gain is to be computed, then, indexation comes into picture to compute the indexed cost of asset as well as indexed cost of improvement. Indexation is not possible without a predefined index. Indexation is necessary to compute the present value of asset as on the date or year in which the asset is sold as compared to the year in which it is purchased. Cost Inflation Index (CII) chart begins from year 1981 with base index as 100...

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Capital Gains- Indexation, Computation, Set Off, Carry Forward

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Capital Gain and exemptions under head capital gain have been dealt, now some other provisions regarding Capital gain needs to be discussed in detail. Various provisions related to indexation, computation of Capital gain, set off and carry forward of capital loss, etc have been dealt with in this article.

Indexation

In case of long term capital asset, indexation is allowed for the cost of asset for computing the long term capital gain...

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