List of Tax Saving Tax Planning Articles

The Indian Tax structure is complex, which is difficult for a common man to comprehend. Many times in absence of proper information and lack of awareness individuals neglect their tax formalities altogether.

One of the first documents that we are supposed to check when filing tax returns is the Form 26AS. This is automatically uploaded by the Income Tax department into your secured PAN access area in the e-filing website. Form 26AS is not only an important document but also one of the most authentic records of how much tax has been deposited by your deductor into the government account.

Buying a house is one of the biggest financial decisions that you will make in your life. It is an overwhelming experience, both financially and emotionally. While buying a house, we need to identify the property, make down payment, apply for loan, sign the sale agreement, etc.

This is a common problem when you use the right form but make mistakes in filling up the form or omit important items. However, you don't need to worry as the tax department gives you the option to rectify your error under section 154. The process is quite simple, Just log in to the e-filing portal and under the rectification tab, choose the order/intimation to be rectified and the assessment year.

According to the Indian Stamp Act, 1899, the Central Government levies stamp duty on the exchange of instruments, where an instrument is defined as any document by which any right or liability is created, or is purported to be created, transferred, limited, extended, extinguished or recorded.

What’s one popular investment avenue for achieving financial goals? It’s none other than mutual funds. One of their main advantages is their tax efficiency. But investors who overlook the tax implications may not be making the most of their investments. Jump into this informative guide to explore details about tax on mutual funds. Understanding How They are Taxed So, is mutual fund income taxable? Like […]

The SCSS has emerged as a veritable source of savings for senior citizens and here are some of the highlights of the SCSS scheme. Rate of interest on SCSS is currently at 8.6% and is reset every quarter after a review by the Finance Ministry. The SCSS interest rate has been, on an average, 60-100 bps above the bank FD rate.

Saving money by reducing your tax liability requires groundwork. It’s called tax planning.

According to the Indian Stamp Act, 1899, the Central Government levies stamp duty on the exchange of instruments, where an instrument is defined as any document by which any right or liability is created, or is purported to be created, transferred, limited, extended, extinguished or recorded.

Taxes in India consume a considerable portion of your earnings. Without proper tax planning, this compulsory contribution can eat a large bite of your hard-earned money.

Every income tax-paying individual must file an income tax return every year. However, some are exempt from filing tax returns or having a certain limit for which they do not need to pay taxes.

Savings play a crucial role in creating a financial cushion in your life. In the absence of a regular income or uncertainty, it provides the necessary means to live comfortably.

You may be surprised to learn that there are three ways the government can take taxes out of your money. Tax Deducted at Source (TDS), Advance Tax, and Self-Assessment Tax are some of these techniques. The topic of today’s discussion will be self-assessment tax, which is crucial for submitting your income tax return (ITR). Self Assessment Tax Meaning The remaining tax, after deducting the TDS […]

Individuals often earn income from various sources worldwide. However, not all countries tax foreign income earned by their residents. If you’re an Indian resident with income sourced from abroad, you may wonder about India’s taxation policies concerning such earnings. The Indian tax system does indeed impose taxes on foreign income. This article aims to explore all about taxation of foreign source income in India. Determining […]

Minimum support price (MSP) for agricultural produce. Fresh talks have begun over the governments move of hiking the MSP to 50% over production cost and whether it will benefit farmers. Let us look at whether the move makes sense given that it has always been one of the major demands in all of the farmer movements in the country.