The move could be part of a strategy to encourage people to save more in financial instruments.
The Mumbai Income Tax Tribunal, recently delivered a very important decision on the claim for tax exemption on HRA (House Rent Allowance). Let us analyse the decision in details, with its ramification and relevance R
Experts feel NPS continues to be a good retiral product for the salaried segment since it is market-linked and professionally managed.
Budget 2017: For individual home buyers No change in home loan exemptions With skyrocketing prices of homes, in big as well as small cities, the average size of the home loan that an R
Move aimed at weaning people away from stocking up cash and parking surplus funds in banks and mutual funds
When it comes to taking a home loan, borrowers have to consider numerous options â€“ different interest rates offered by various banks (which may be fixed rate, floating rate, or semi-fixed rate), in addition R
Income tax laws allow tax payers to claim various benefits, with respect to the house occupied by the assessee â€“ whether it is owned by you or taken on rent. Conditions for claiming R
Mr. Mutual Fund writes to the finance minister with his wish list for Union Budget 2016.
Be it the rate at which the short term capital gain is taxed, or the differential treatment a debt security and a debt mutual fund gets, such anomalies should be removed by Union Budget 2016, says Union KBC MF.
Encouraged by tax incentives for investment in retirement schemes floated by mutual funds, several fund houses including Canara Robeco MF, LIC Nomura MF and IDBI MF have lined up plans to launch such products.
Instead of worrying at the last moment it makes sense to prepare yourself now. This ensures that you not only save tax but meet your financial goals in life.
The budget proposes to make present TDS limit for tax deduction applicable in respect of fixed deposits with all the branches taken together, as compared to each branch earlier
Union budget should allow retirement funds of AMCs to be covered under section 80C of the Income Tax act. There is a need to introduce a better scheme to attract first time investors. And more important is extant limit of Rs 1.5 lakh under section 80C should be increased.
For calculating the income taxable under the house property head, the taxation laws allow you two deductions. The first deduction is standard deduction in respect of repairs etc. at the flat rate of 30% of the annual value calculated as above.
In case you have yet not made your full investment, you can now invest the money either in PPF account or buy NSC as it is not advisable to invest in ELSS in lump sum at this moment. Please ensure that the sum is actually debited in your bank account so as to ensure that your claim is not jeopardised.
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.
All is going to change for the senior citizens once the Provisions of Direct Tax Code come into operation w.e.f. 1st April 2012. The provisions in the Direct Tax code are quite unfair to senior citizens; here's how.
ING Life India today said that it has launched a traditional insurance product--ING ACE (Pension and Life).It has features such as high guaranteed additions, limited premium pay and tax benefit under Section 80 C of the Income Tax Act, a press release issued here stated.