Here's a summary of top financial events that affected your money directly in 2011.
In an hour-long chat on rediff.com on Wednesday, experts Vinay Mahajan and Devang Mehta offered some valuable tips.
In an hour-long chat on rediff.com on Monday, chartered accountant and Income Tax expert Chetan A Gandhi offered some valuable tips.
The Individual tax payer exemption limit to be raised to Rs 200,000 from Rs 180,000.
First thing an average citizen thinks about before any Budget is about income tax.
The NSE Nifty closed at 4922, up 63 points. The market breadth was strong. out of 2874 stocks traded on the BSE, there were 1848 advancing stocks as against 942 declines.
Finance Minister Arun Jaitley on Monday did not change tax slabs but offered a relief of Rs 3,000 to the salaried with income below Rs 5 lakh per year.
After the GST Council's meeting in March, the Centre had sought views from Attorney General K K Venugopal -- who is the chief legal officer of the government -- on the legality of market borrowing by the council to make good any shortfall in the compensation fund. The AG in his view said there is no obligation on the central government to pay the GST compensation shortfall, according to the sources.
The Union Budget 2011-12 was a low key affair for the Telecom sector. The Budget did not mention extension of fiscal benefits under the Sec 80IA from 5 years to 10 years.
Biggest beneficiaries would be people having income between 800,001 to 999,999 per annum.
There are no secrets or mantras to save more tax. Just follow the basics of investing in tax saving instruments and, more importantly, how much one needs to invest.
The opposition party also claimed that the Modi 2.0 dispensation has turned out to be an "economic and political disaster" and "constant rollbacks" of economic decisions will lead to worsening of the economic situation.
As the Indian economic growth slowed to a nine-quarter low of 6.9 per cent in the second quarter of this financial year, Ficci has urged the finance ministry to provide more disposable income at the hands of the people by raising the personal income tax slab for the peak rate of 30 per cent in the next budget.
Exemption limit for the general category of individual taxpayers will increase the liquidity.
In an hour-long chat on financial planning expert Sailesh Multani offered answers to many investment-related questions.
Finance Minister Pranab Mukherjee on Monday said the Direct Taxes Code (DTC), which will replace the Income Tax Act, is proposed to be implemented from April 1, 2012."
Tax expert Anil Rego answers readers' questions about how Finance Minister Piyush Goyal's Budget affects you.
Financial planning expert Sailesh Multani offers some valuable investment tips.
Senior officials in the ministry told Business Standard the rate of taxation would remain the same in the final version of DTC.
Taxpayers are not likely to get as much relief as was proposed in the discussion paper on the Direct Taxes Code last year, with the Finance Ministry saying that the tax slabs may be narrowed down in the bill, slated to be tabled in the monsoon session of Parliament.
Otherwise, while filing returns, you may have to pay additional tax.
In an hour-long chat on rediff.com on Friday, financial expert K V S Manian replied to many Budget-related investment queries.
In an hour-long chat on rediff.com on Friday, financial planning expertTrideep Choudhary offered some valuable investment tips.
In a chat on rediff.com on Thursday, market expert Vinay Mahajan offered some valuable tips about investing in the stock markets.
In a chat on rediff.com on Thursday, market expert A Shyamsunder offered some valuable investment tips.
In an hour-long chat on rediff.com on Thursday, financial expert Abhinav Angirish offered some Budget-related tips.
In a chat on rediff.com on Wednesday, banking and insurance expert G V Nageswara Rao replied to Budget-related tax queries.
What effect will the Budget have on food prices? And on prices of other things? Has the FM given with one hand and taken away from the other? During a chat on rediff.com on Wednesday, economist Ajit Ranade replied to many such queries.
In an hour-long chat on rediff.com on Wednesday, economist Siddharth Shankar replied to many Budget-related queries.
Goods like chocolates, chewing gum, shampoo, deodorant, shoe polish, detergents, nutrition drinks and marble will now attract 18% GST>
Hike in excise duty on cement products is negative, but can be overwhelmed by improved demand from greater thrust on infrastructure and rural sector.
By far the most attractive thing in the Budget 2010 for individuals is the increase in the income tax slab limits. Though the entry level slab for income tax has not been changed from Rs 1.6 lakh (Rs 160,000), there is a considerable jump in the other slabs.
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.
While using the family to save tax is legal and smart, ensure you use the ones where clubbing income laws isn't a concern, advises Bindisha Sarang.
The forthcoming Budget is expected to bring about some of the changes for a smoother transition to the new tax code. Read on. . .
While retaining the basic exemption limits at Rs 1.6 lakh (for individuals), Rs 1.9 lakh (for women) and Rs 2.4 lakh (for the retired), the slabs have been hiked substantially.
The Direct Taxes Code Bill, 2009, could soon set the tone for all our future wealth-creation decisions. If enacted, the bill will not only change the amount of tax you pay, but also transform how you invest, borrow and spend your money.
The Direct Taxes Code Bill, 2009, could soon set the tone for all our future wealth-creation decisions. If enacted, the bill will not only change the amount of tax you pay, but also transform how you invest, borrow and spend your money.
The provisions of deduction of tax at source apply to both but in some cases it is possible to save tax through proper tax planning.
The income tax exemption for interest payment of home loans is likely to be increased to Rs 2.5 lakh (Rs 250,000) for the upcoming year.
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