Just because a notice has come from the tax department it does not mean that the individual tax payer has made some mistake or that they have defaulted.
Ensure that you start the process of investing in ELSS funds right from the start of the financial year.
Interest received on bank fixed deposits is fully taxable.
This allows for a proper way to plan for the entire investment and here is a detailed look at what the investor can do in the matter.
FMP offer tax efficient fixed income investing opportunities to risk averse investors.
Tax collection at source aims to ensure that the various expenses made are included in the tax return and that there is a link that can be established.
Union Budget 2016 has made dividends received from companies in excess of Rs 10 lakh taxable at 10% rate.
When the tax workings are made then the capital gains would ensure that the cost goes out of the equation and due to this reason the gains part of the total amount that has come would not be very high.
If there is a capital loss that has been incurred then this can be set off against some capital gains.
A new offer means there is no portfolio and no track record across cycles. Also the fund manager‘s intention matters a lot.
In addition to deduction under section 80C, during the last budget, the government gave an extra benefit which is that a further sum of Rs 50,000 would be allowed as a deduction for the contributions to the NPS.
In the last couple of months most individuals run around to gather investment proofs. But they still have time on hand.
The main condition with respect to the entire process is that the dividend that is earned through this route should be tax free.
It pays to look at three and five years performance numbers while evaluating a mutual fund scheme.
Change of name does not necessarily mean that the crucial facts about the scheme has changed.
You should first assess your requirement and accordingly pick the right investments of right quantum.
SEBI has asked the mutual funds to come with some uniformity when it comes to reporting of NAV.
Most investors want to know the right time to invest in an equity mutual fund. However the focus should be on investing money regularly and not on timing them.
Existing debt mutual fund schemes too have to comply with the new norms. These norms should help contain the risk, and of course will influence the returns too.
Depending on the tax bracket the mutual fund investor should decide on the investment option.
If you are a non resident Indian and has a PAN, you can file your income tax returns and also enjoy benefit of the basic exemption limit.
Though senior citizens need not pay advance tax, they have to account for income tax and pay it. Also they are expected to file income tax returns, as per rules.
Investing in direct plans of mutual funds may sound the cool thing to do. But you do not get any help to track your investments. Use online portfolios to keep a track of your investments.
It makes a lot of sense to quickly respond to the notices as it saves a lot of time and efforts in the process of paying tax.
Government has recently revised the norms for submission of permanent account number (PAN), on certain transactions. Here is how why the norm on PAN submission is important.