Your financial plan will set objectives for you based on your aspirations, your lifestyle, your age group, size of family, etc.
So for the time being, consumers need not worry about their EMIs on home loans, auto loans etc. going up. However, as April progresses the scenario could change.
When errors crop up due to lack of awareness you could end up evading tax unknowingly. That could turn out to be a costly mistake somewhere down the road. So be wise, get your tax facts right. Here is a quick sample checklist for you.
Tax incentives are given to encourage savings / investments. Savings form part of your overall financial plan which in effect means tax planning is a subset of financial planning. Your financial plan will set objectives for you based on your aspirations, your life style, your age group, size of family, et cetera.
Familiarise yourself with Transfer of Property Act. The rights and duties you have are outlined in the Transfer of Property Act.
As a follow on to all the articles written about Budget 2009-10, here's a review of what took place, what is still taking place and what has not taken place.
r the people in the Rs 5-8 lakh bracket, it would be advisable to invest in infrastructure bonds if the period of investment is 3 years, but not for five years and for those in the Rs 1.6-5 lakh bracket, it would be an absolute no-no to invest in Infrastructure Bonds for tax-saving purpose.
A back of the napkin calculation will tell us that people having a taxable income of Rs 500,000 will be paying a tax of Rs 34,000 in 2010-11 as against Rs 54,000 in 2009-2010. A saving of 37.04%!
With the tax planning and investment season coming to an end this month, many are running around to get the best of the plans available in the market. Most of the limit available under Section 80C would have been over by now. Are there other ways to get tax benefits from taking up useful investments/expenses? Yes, there is always the health insurance plans.
Finance Minister Pranab Mukherjee seems to have stuck to increasing income for the government as the sole focus of the Budget 2010. The key problem faced by people -- inflation has been thrown out of the window of consideration.
The Railway Budget 2010 presented to Parliament on Wednesday by Railway Minister Mamata Banerjee, has been received with glee by most people.
Base rate system set to replace BPLR system for loan rates.
The biggest impact of the new tax system is the significant widening of income slabs. According to this, people with annual income not exceeding 1.6 lakh (Rs 160,000) will not have to pay any tax.
What is expected to change is the level of transparency in the retail and corporate lending market with banks expected to announce the rate changes as and when they happen and also display them at their respective websites.
Earning a salary? Looking to save tax the smart way? Then you have two options. First is salary restructuring and second is tax saving instruments. Here we take a look at both these options and how to use them effectively.
TDS means tax deducted at Source. It is deducted by the banks if the interest earned on your fixed deposit exceeds Rs 10,000 in a financial year.
Your mother gave you those ancestral bangles at the time of your marriage as streedhan. Now you want to sell it. Then be ready to shell out capital gains tax.
Usually July 31 is the last date for filing tax returns. It is important to file the returns on time in order to avoid paying penalty.
As the name suggests these bank accounts are flexible in the sense they give you the higher interest of a fixed deposit and the liquidity of a savings account.
A look at what constitutes as Income on Indian soil and what is not from the viewpoint of the income tax department.
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