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  • Deductions U/S 80C for investment in New Residential House Mar 03, 2014 01:22 PM IST

    Deductions U/S 80C for investment in New Residential House

    Balwant Jain, CFO, Apnapaisa.com explains what are the deductions U/S 80C for investment in New Residential House.

  • Who is liable to file wealth tax returns? Mar 03, 2014 01:22 PM IST

    Who is liable to file wealth tax returns?

    Balwant Jain, CFO, Apnapaisa.com explains who is liable to file wealth tax returns and how is wealth tax charged.

  • From how many years' return can I file at a time? Mar 03, 2014 12:45 PM IST

    From how many years' return can I file at a time?

    According to Balwant Jain of Apnapaisa.com, at any given point of time you can file income tax returns for two immediate preceding financial year completed.

  • Can I claim refund for tax deducted by the bank? Mar 03, 2014 12:43 PM IST

    Can I claim refund for tax deducted by the bank?

    According to Balwant Jain of Apnapaisa.com, if you feel that you are income is not going to be taxable then you can furnish Form 15G or 15H if you are a senior citizen before the bank credits the interest to your account.

  • My income is not taxable; can I file income tax returns? Mar 03, 2014 12:42 PM IST

    My income is not taxable; can I file income tax returns?

    According to Balwant Jain of Apnapaisa.com, it is in your interest to keep on filing your income tax returns even if in any particular year your income is not taxable.

  • What if I fail to pay advance tax on due dates? Feb 17, 2014 04:23 PM IST

    What if I fail to pay advance tax on due dates?

    If you fail to pay advance tax by due date you can pay the advance tax which you have not paid on the due date on the next due date, but you will have to pay interest at the rate of 1 percent for three months.

  • What happens if I fail to pay advance tax during the year? Feb 17, 2014 04:22 PM IST

    What happens if I fail to pay advance tax during the year?

    According to Balwant Jain of Apnapaisa.com, if you fail to file the return beyond the date then you will have to pay 1 percent interest on late filing of return as well as for non payment of advance tax.

  • Who has to pay advance tax? Feb 17, 2014 04:19 PM IST

    Who has to pay advance tax?

    According to Balwant Jain,Apnapaisa.com, in case your tax liability after any TDS exceeds Rs 10,000 then you have to pay advance tax in three instalments before 15th December, 15th March and 15th September.

  • How the income earned by a minor taxed in India? Feb 17, 2014 04:18 PM IST

    How the income earned by a minor taxed in India?

    According to Balwant Jain of Apnapaisa.com, in case income earned is more than Rs 1,500 then the income is clubbed with the parent whose income is higher and it will be continued to be clubbed with the same parent.

  • Are gifts received exempt? Feb 17, 2014 04:17 PM IST

    Are gifts received exempt?

    According to Balwant Jain of Apnapaisa.com, as far as taxability of gifts is concerned, gift tax has been abolished, but this has been brought under the Income Tax Act. So any gift up to a value of Rs 50,000 in a year is fully exempt.

  • What is Permanent Account Number and why does one need it? Feb 14, 2014 03:28 PM IST

    What is Permanent Account Number and why does one need it?

    Balwant Jain of Apnapaisa.com has explained about the importance of Permanent Account Number (PAN).

  • Are there any transactions where PAN is mandatory? Feb 14, 2014 03:27 PM IST

    Are there any transactions where PAN is mandatory?

    For purchase or sale of immovable property, making deposits in bank account, opening bank account with banks or with a post office, one need to have PAN, says Balwant Jain of Apnapaisa.com.

  • How does the cost inflation index work for capital gains? Jan 22, 2014 04:01 PM IST

    How does the cost inflation index work for capital gains?

    Balwant Jain, CFO of Apnapaisa.com explains how does the cost inflation index work for capital gains.

  • How annual value of a house property is calculated? Jan 22, 2014 03:57 PM IST

    How annual value of a house property is calculated?

    Balwant Jain, CFO of Apnapaisa.com explains what is the annual value of a house property and how is it calculated.

  • What are perquisites? Jan 22, 2014 03:57 PM IST

    What are perquisites?

    Balwant Jain, CFO of Apnapaisa.com explains what are perquisites.

  • Can I file my returns of income after the due date? Jan 22, 2014 03:56 PM IST

    Can I file my returns of income after the due date?

    Balwant Jain, CFO of Apnapaisa.com explains one can certainly file his/her income tax return after the due dates.

  • What are the due dates of filing tax returns? Jan 22, 2014 03:51 PM IST

    What are the due dates of filing tax returns?

    Balwant Jain, CFO of Apnapaisa.com explains what are the due dates of filing tax returns.

  • What is short term and long term capital gains? Jan 20, 2014 05:36 PM IST

    What is short term and long term capital gains?

    Balwant Jain, CFO of Apnapaisa.com explains what is short term and long term capital gains.

  • Who is supposed to file returns? Jan 20, 2014 05:35 PM IST

    Who is supposed to file returns?

    Balwant Jain, CFO of Apnapaisa.com explains who is supposed to file returns.

  • What is income tax? Who is supposed to pay tax? Jan 20, 2014 05:35 PM IST

    What is income tax? Who is supposed to pay tax?

    Balwant Jain, CFO of Apnapaisa.com explains what is income tax and who is supposed to pay tax.

  • What tax benefits will I get from home loan? Nov 27, 2013 10:00 AM IST

    What tax benefits will I get from home loan?

    As per section 80 C an Individual and an HUF can claim principal repayment component of a loan along with other eligible items like Life Insurance Premium, NSCs, EPF, ELSS and stamp duty and registration charges etc. The overall deduction is restricted to Rs. 1 lakh in a year.

  • Is annuity under reverse mortgage tax exempt now? Nov 11, 2013 02:52 PM IST

    Is annuity under reverse mortgage tax exempt now?

    According to Balwant Jain, it is possible that the government might have intended to exempt the annuity from income tax act, but the notification does not seem to be translating this intention into action

  • Confused about taxes on income from shares? Here's help Oct 22, 2013 12:27 PM IST

    Confused about taxes on income from shares? Here's help

    Balwant Jain of apnapaisa.com tries to decode the taxation issues relating to income from shares from the stock market.

  • Know the do's and don'ts of forms 15G and 15H Oct 09, 2013 11:27 PM IST

    Know the do's and don'ts of forms 15G and 15H

    Balwant Jain of apnapaisa.com elaborates on the dos and donts of Form 15G and Form 15H.

  • Filing I-T returns first time? What you need to know May 31, 2013 03:36 PM IST

    Filing I-T returns first time? What you need to know

    If you are a first time Income Tax payer, know the facts and the process involved in filing your Income Tax (IT) returns.

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