We have all heard the phrase “Nothing is Certain As Death And Taxes”. No matter how old you grow you have to pay tax. There is no age limit for taxation. Here in India we also have an Income tax slab for the above 80 Year age group. This clearly shows that life expectancy has increased in India. Why else would they have made an Income tax slab for an age group of 80 Years? Here the...
My Son is soon going to be in college. The fees these days for those Engineering and MBA courses are ridiculously high. I plan to take an educational loan for my Son’s higher education. Thank God for those tax deductions available under Section 80 E of the income tax act. Learn To make Lemonade out of Lemons. Whenever you are in a catch 22 situation always study your options and make the b...
Why Oh Why does this time of the year keep coming. Oh those income tax returns have to be filed again. What a headache. So you think you are the only one filing those blessed income tax returns. Speaking of tax returns I remember an incident that once happened to me. I always make it a point to file my income tax returns on time especially if I am getting my tax refunds. Remember from the sublim...
We have all heard the saying “Desire Is A Well That Never Dries Up”. Wealth is a relative term. It can never be measured. It is never enough .Don’t we all feel that how much ever we have we are not satisfied? Where is that security and feeling of heavenly bliss that money alone can buy? India is a nation which strives to produce millionaires. More the merrier is our motto. Ours...
Here we have the famous saying "Everything We Have Is Taxed Including Our Patience". Oh why do we all have to pay taxes? Isn’t there a way we can save on these Taxes? Here we have the famous saying “Where There Is A Will There Is A Way”. Here in India the Government has provided us a way to save on our Income Tax by making use of the tax deductions available to us. .Mustn&rsquo...
Tax Calculations are so complicated...I am so busy …Where do I have the time for all these tax calculations. It is normal to hear people complaining about the amount of taxes they pay. Come on have a heart...Even Mr Obama the US President pays his taxes. Taxes are the price we all pay for civilization. We must have all heard a famous quote." The Best Things In Life Are Free But Sooner or ...
We all know that without taxation a nation cannot survive. Taxes are the price we pay for a civilized society. In India just like in any other nation the main priority of most of its citizens is to save on Taxes. You must have heard the saying “For Every Benefit You Receive Tax Is Levied " Hardly I receive anything and the taxman is waiting at my doorstep. In order to learn more on Taxatio...
Taxing the earnings of a citizen of a country is an ancient practice. Taxation was present in Ancient Greece and the Roman Empire. Taxation was present in India since ancient times imposed on the Subjects of the various Kingdoms by the rulers. There is a popular saying in English "Nothing Is Certain In Life But Death And Taxes". I would like to remind all of you that the team of Financial Planne...
Everything you want is a Click Away... Remember those Pop Ups asking us to purchase an insurance policy online... We Are The Best Financial Products Available Online And We Know How To Serve You Best ... Protection Of Your Loved Ones Just A Click Away… Remember that Dream house you wanted to Purchase? We have heard the phrase" Knock And The Door Will Be Opened " Doesn’t purchase of ...
Tax….Tax…. Tax…How many times we hear people complaining about this … Every time I go shopping I do not have any money to spend …all of it goes to pay Tax. It is that time of the year when we taxpayers have to think of the various tax saving instruments necessary for us to save tax. Here in order to study Tax Planning one can look up the website IndianMoney.co...
We all are burdened by the vagaries of life. Loans simply add to it. Cheer up! Remember the less you have the more there is to get, credit cards are like mosquito’s …you can keep them away for a while but sooner or later they will come back to suck your blood. Here the main factor a person needs to consider is Do I really need a loan. We notice nowadays that people take loans jus...
Direct Taxes 5% surcharge on domestic companies whose income exceeds Rs 1 crore 10 % surcharge on domestic companies whose income exceeds Rs 10 crores Surcharge on Dividend Distribution Tax (DDT) increased from 5 % to 10% Securities Transaction Tax (STT) rates cut on equity futures to 0.01% and for Mutual Funds to 0.001 % Commodities transaction tax (CTT) levied on non-agriculture comm...
Kinds of Life Insurance Policies : Term Insurance You can choose to have protection for a set period of time with Term Insurance. In the event of death or Total and Permanent Disability (if the benefit is offered), your dependants will be paid a benefit. In Term Insurance, no benefit is normally payable if the life assured survives the term. Whole Life Insurance: With whole life insur...
If you are a salaried tax payer you'll need to have the following items at hand for filing your Income Tax Return. This might vary on a case by case based on your income. Following are the documents you will need for the Assessment Year 2012-13 that will help you prepare and file your Income Tax Return on time without much hassles. PAN number Verify your PAN number online with the Income Ta...
A prudent person foresees danger and takes precautions. The simpleton goes blindly on and suffers the consequences. With continuous increase in prices of various commodities, it is essential for an individual to act prudently by having a good financial planning which can balance the increase in prices. Saving on taxes is one method which yields good results in having an efficient financial plan....
"A prudent person foresees danger and takes precautions. The simpleton goes blindly on and suffers the consequences." With continuous increase in prices of various commodities, it is essential for an individual to act prudently by having a good financial planning which can balance the increase in prices. Saving on taxes is one method which yields good results in having an efficient financial plan...
The process of identification, analysis and either acceptance or mitigation of uncertainty in investment decision-making. Essentially, risk management occurs anytime an investor or fund manager analyzes and attempts to quantify the potential for losses in an investment and then takes the appropriate action (or inaction) given their investment objectives and risk tolerance. Inadequate risk manage...
Imagine a situation where an individual works with full sincerity to earn an income to lead a comfortable life, but due to lack of tax planning he ends up losing a major chunk of his earnings by paying tax. Have you ever faced this jeopardy? Taxes are essentially one of the major sources of income to the government. Government levies taxes in order to fund various projects and foster economic de...
Dear Readers it’s been long time we discussed about a Tax related topic. Most of us know about the 100000 deduction under Sec 80C. From long time people are demanding to increase this level of deduction. One of the fresh tax reliefs in the Budget 2010 is the deduction allowed for investing up to Rs 20,000 in infrastructure bonds. Finance minister Pranab Mukherjee had mentioned in his budge...
The government of India imposes an income tax on taxable income of individuals, HUFs (Hindu Undivided Families), Companies, Firms, Co-operative societies, trusts, etc. Levy of tax on different people depends on his/her taxable income. In India levy of Income Tax is governed by the Indian Income Tax Act, 1961. Generally people are not interested in understanding the complicated process & tech...
