Even if you don't come in the filing bracket, it is the only way to claim refunds, get visa to some countries.
If your case is picked up for random scrutiny, any of the tricks that you or your financial advisor may have used to avoid tax will be easily detected.
It is very important to maintain your tax record even if you are not in the taxable income bracket as tax return papers are required when applying for a loan
A key demand is to reduce the dividend distribution tax on listed firms.
Long-term tax on capital gains arising from selling a house can be invested in another property under Section 54.
Income from renting of properties is taxed at a flat rate of 10%.
In a chat on rediff.com, Feroze Azeez offered valuable tips.
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Says high inflation has to be reversed to achieve sustainable GDP expansion.
Salil Dhawan reveals the MFs that have not only performed well in the past but have a promising outlook for the future too.
Here are some major benefits that come along with a child insurance plan
Most insurers aren't comfortable with subscribing to the National Pension System as they see it as competition.
Add a term plan with a child mutual fund for best results.
Many house owners are not aware of this option and hence end up taking personal loans to renovate their homes
FM may increase income-tax exemption limit to Rs 3 lakh
These plans aren't likely to put substantial cash in your hands.
Mahavir Chopra compares mutual funds and Ulips to help investors decide.
Most buyers are forced to back off in the face of delays because of the appreciation of the property.
'The fact that housing units worth a whopping Rs 4.5 lakh crore in top seven cities are stuck under various stages of non-completion indicates that there is a dire need to create stress-asset fund which will help bail out lakhs of distressed homebuyers,' says Anuj Puri, Chairman, Anarock Property Consultants, a real estate services company.
The proportion in which a joint home loan is taken is important.
Excise duty hike for cigarettes could be lower.
Without Form 16, tax computation becomes cumbersome
Conservative investors and those in the lower tax bracket should opt for these, experts tell Sanjay Kumar Singh
While saving tax is important and certainly welcome, it's lot more important to ensure each instrument actually does the job it was originally meant to, says Manish Shah.
We take the opportunity to bust a few myths
If the sum assured is less than 10 times premium, the proceeds will be taxed.
Ensure you don't get benefits that get reversed, while filing returns.
Many hurdles that investors could have faced after enrolling for the scheme have been removed.
Reduction in the mandatory minimum contribution and extension to invest in the scheme from 60 years to 70 years has made the National Pension Scheme more friendly, says Anil Chopra, Group CEO & Director Bajaj Capital
Jaitley has announced increasing the super-rich surcharge to 12%.
Prepare your replies with expert help, if necessary. Keep relevant documents ready to support your replies.
Indian tax laws offer start-ups ways to save taxes.
The Income Tax Return Form-1 (Sahaj) will replace the 7-page form, removing a plethora of columns on deductions from income claimed.
Frankly, there is no reason not to open a PPF account and start investing in PPF
Your EMIs may help you to reduce your tax liability... Here's how
There is a perk for donating to parties. An individual who makes an eligible donation is entitled to get 100% tax deduction under Section 80GGC of the Income Tax Act.
New ITR form may be simpler, but some changes could stump you.
A quick snapshot about the fundamentals of the concept of life insurance.
It will bring down the cost of a second house because of tax benefits and price appreciation
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