Unit Investment Plans

Category: Insurance Comments: No comments

Investment Plans,Insurance Plans

Unit investment plans are investment plans for persons who understand the value of hard-earned money. These investment plans assist you observe your money yield rich reimbursement and help you save tax yet you don’t have steady income.

A Unit investment plan is mainly a combination of insurance as well as investment...

Read More

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

Category: TagsTax Planning Comments: No comments

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...

Read More

Cost Inflation Index (For Capital Gains)

Category: Stock & SecuritiesTagsTax Planning Comments: No comments

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...

Read More

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

Category: InvestmentsTagsTax Planning Comments: No comments

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...

Read More

Deductions Under Head Capital Gain

Category: InvestmentsTax Planning Comments: No comments

Deductions Under Head Capital Gain

Meaning of Capital Gain has already been explained in one of the previous articles on this site, now we come to a part where deductions available under this head is dealt with. Deductions as we all know is a sum which is reduced from the amount of tax or taxable amount, in order to provide a benefit or relief to the assessee on whom the tax or taxable amount is computed. Deductions under head Capital Gain are all related to long term gains and not short term gains...

Read More

Tax deduction on salary while switching job

Category: InvestmentsTax Planning Comments: No comments

Tax deducted on salary while switching job

When and employee changes job in a financial year once or more than once then he faces a common problem of extra tax deduction at year end. Financial year is the period starting 1st April and ending 31st March every year. Employees have a common a common question why my tax got deducted even though TDS was deducted in my previous company, why do i have to pay extra tax when it is already paid...

Read More

How salaried employee lose tax benefits

Category: InsuranceInvestmentsMutual FundsStock & SecuritiesTax Planning

How salaried employee lose tax benefits

Tax saving deductions are known to all but when and on what conditions they are withdrawn are known to few.To know about the conditions when tax benefits are withdrawn, read on. Life Insurance policy, long term capital gain, pension, housing loan principal and newly introduced Rajiv Gandhi Equity Savings Scheme are few of them which are available as deductions under various sections of The Income Tax Act, 1961 but the benefit is also withdrawn on non-fulfillment of certain conditions...

Read More

Deductions Under Section 80 C

Category: InvestmentsTax Planning Comments: No comments

Deductions Under Section 80 C

Every individual who is in service is always eager to know how much should he invest and how much he should save so as to bring his tax liability to minimum. Each employee always consults his colleague that where have you invested to save tax. In this article i will discuss about the sections which are available to individuals to bring clarity about them and how much an individual can save by making use of these sections like section 80 C.

Sections available as deduction under Income Tax Act, 19...

Read More

Capital Gain Tax

Category: InvestmentsMutual FundsStock & SecuritiesTax Planning Comments: No comments

Capital Gain Tax

Capital gain is one of the heads of sources of income for an individual, but it is also the head about which an individual knows the least. Various exemptions, computation and carry forward and set off of losses of this capital gain tax head is not known in general, due to which many people are unable to get the maximum benefits available under this head. This article focuses on the way to compute long term and short term capital gain and derive the best possible use of provisions in this head.

Read More