Subhash Lakhotia

Must read tax tips for salaried individuals for FY 14-15

Central Board of Direct Taxes vide Circular No. 17 of 2014 dated 10th December 2014 has issued clarification on many tax issues. Here are some of the important points a salaried individual must know.

FinWiz: Investment tips by Subhash Lakhotia & Tanvir Alam

Tax expert, Subhash Lakhotia and Tanvir Alam, Founder & CEO of Fincart give investment tips to the young professionals of Jubilant Life Sciences during FinWiz visit there.

15 tax and investment planning tips for 2015

Keeping a track of income tax rules in money matters ensures peace of mind and healthy post returns in the hands of the investors. Here are some tips that make you wealthier in 2015

NSE FinWiz goes to Cyient, Hyderabad

NSE FinWiz visited Cyient Ltd in Hyderabad to gauge thoughts and notions of the young employees on investments and financial planning. Subhash Lakhotia, Tax and Investment Consultant and Pankaj Mathpal, Financial Planner & CEO of Optima Money Managers gave Cyient employees investment and financial planning tips.

How to claim from your employer deduction

Without going to the tax department the employee is able enjoy tax concession or tax benefit In respect of interest payment on the housing loan direct from the hands of the employer.

Last time tax planning for salaried employees

The individual employer depending upon his work load which depends on the number of employees can issue guidelines which are applicable for his employees only.

Demystifying wealth tax: 10 things to know

In the initial stage please do remember that wealth-tax is a separate tax other than income-tax and also other than service tax and the same is payable by individuals, Hindu Undivided Families and the Corporate Sector. Other than these categories of tax payers wealth-tax is not payable by other categories of tax payers in India.

Is there any burden on gifts?

If the gift is made to a relative or if the gift is made to a non-relative or even when the gift is made to a charitable or a religious institution, in all such situations the donor under the present provisions of the Income-tax Law is not required to make payment of any income-tax in respect of the gifts given by him.

Indian Tax Structure: 10 Dos & 10 Don'ts

Long time back in India, minor children were treated as a separate tax entity. Now the income of the minor is clubbed, hence the Income-tax Law to be amended to provide for separate tax assessment of the income of the minor which will also provide for safety and security of minor child.

What not to do in 2014 for tax & investment planning

The first important item is not to think at all of tax evasion because tax evasion will result into penalty and prosecution. Avoid tax evasion.

Should a person start tax planning in beginning of the year

One will enjoy tax deduction either as per section 80C or section 80D or any other section of the Income-tax Act when you make the investment today or you make the investment at any point of time before 31st March 2014.

How can HUF help individual to save income-tax

One important way of saving income-tax is to think of forming a separate tax entity in the name of an Hindu Undivided Family.

Duration of cap gains must be based on date of allotment

It is very important to find out the date of purchase of the property because it is this date which will determine the nature of Capital Gain namely whether the Gain is a Long-term Capital Gain or a Short-term Capital Gain.

Surplus on sale of agricultural land is capital gain

Tax consultant Subhash lakhotia clears the air on the confusion regarding surplus income on the sale of agricultural land and whether it qualifies as capital gain.

All about income tax laws related to stock valuations

Generally speaking every person carrying on business is permitted within the parameters of the Income-tax Law to adopt any system of accounting.

Joint ownership of house valid for saving capital gains tax

Tax and investment consultant Subhash Lakhotia explains on how to save capital gains tax when the house/property is in the joint ownership of the assessee and his wife.

Know how to save income tax through cost inflation index

Tax guru Subhash Lakhotia explains on how one can save tax expenditure on property gains through cost inflation index methods. He points that it saves substantial amount of income tax on long term capital gains.

Tax amendments to file Income-Tax return for AY 2013-14

It is well known fact that tax payers are now required to file their Income-tax Return for the Financial Year 2012-13 relevant to the Assessment Year 2013-14. These Income-tax Returns in most cases have to be filed by 31st July, 2013.

Inheritance Tax: Time to scrap the thought

Sometimes a thought might come in the minds of the tax gatherers that why not introduce â€œInheritance Taxâ€ to gather more revenue for the Government. Well, it is time right now to debate on the theme of introduction of Inheritance Tax in the present scenario in the country.

Are you adequately insured?

Are you adequately insured? Let this question be asked by every adult income-tax payer in his family. I would like every tax payer to take care of securing his family during the year against calamity.

Invest in Zero Coupon Bond in 2013

Think of investing in Zero Coupon Bond in the year 2013 and it should be taken as a preferred tool of instrument of investment specially by persons not interested in regular income.

Continue investment in Public Provident Fund in 2013

Do invest in Postal Office Instruments like National Savings Certificate VIII issue, National Savings Certificates IX issue, Post Office Time Deposit Receipts, as well as in Senior Citizen Savings Scheme specially keeping in view the aspects connected with tax deduction under section 80C and also the rise in the interest rates.