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FM to raise I-T exemption to Rs 2 lakh?

Tax experts are hopeful Finance Minister Pranab Mukherjee will increase the income tax exemption limit to Rs 2 lakh (Rs 200,000) per annum from Rs 1.6 lakh (Rs 160,000) to bring the rates in line......

Planning to buy a house? A MUST read

Thinking of buying your dream home? There aretwo great tax exemptions available for people doing so. Read on ... Tax exemption number 1: Exemption of long-term capital gains from a residential......

Tax smart: How a will can save you a lot of tax

Where there is a will, there is tax saving. Many tax advantages are possible only through a will. For example, a separate income-tax file for a Hindu Undivided Family (HUF) can be established by......

5 golden rules of tax planning

Just as rules are important for good living, so also there are some golden rules of tax planning. The five simple yet effective rules of tax planning are: Spread the taxable income among various......

Tax caution: Don't invest out of allowances

Salaried executive receive various types of allowances from their employers. As per the Income Tax Act some allowances are exempted, others are liable to income tax. For example, conveyance......

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