Posted On:  2 weeks ago


Best 8 tax saving option in 80C available today

Every year we look forward for tax deduction under section 80C. Rather than investing in last moment do make proper analysis before investing so that you can earn expected returns. Following is the Ranking based on research conducted.

article author CA Chirag Chauhan

Posted On:  2 weeks ago


Which mutual fund NFO you should invest?

There are three new Mutual Fund Launch of NFO in November 2017. The Stock markets has generated a return of over 30% in last one year time. Most of the mutual fund has performed well. The biggest question is should you invest in Mutual fund now? The probable answer is yes, provided you can hold on till 3 to 5 years.

article author One Roof Consultant

Posted On:  4 months ago


Filed IT Return, got Income Tax Intimation or Notice? Know what to do next

The Deadline for filing Income Tax Return which was 5th August. Central Processing Center (CPC) of Income Tax have started processing return and sending various intimation and notices. The processing of Income Tax returns have expedited compared to previous years and most of returns are processed within month time. The communication or intimation are usually send by Email with hard copy at address mention in ITR. Do check all communication you received on the register email id and check under which section you have received intimation or notice and respond

article author CA Chirag Chauhan

Posted On:  5 months ago


10 important points while file Income Tax Returns

Many taxpayers mess up their tax returns because of either out of greed, ignorance of rules, or just lack of time for knowing the rule. Some mistakes are not very serious offences and the taxpayer will get away with an additional tax demand. But some errors, such as not mentioning cash deposits after demonetization or foreign assets and income or sale of property disclosure, can land the taxpayer in serious trouble How to avoid such mistakes? There have been several changes in tax filing rules in the past year. The tax payer may not be aware of all the changes so it is advisable to take help of professionals in filing the return and avoid any mistakes. There might be many mistake which a individual makes if filing is done by self. Here are the few common errors or mis outs in case of filing returns.

article author CA Chirag Chauhan

Posted On:  6 months ago


How to Pay Zero Tax for Income up to Rs 12 Lakhs from Salary for Financial Year 2017-18

Most of salaried individual do their tax planning at the end of the year, as many are not aware of what all options are available to save taxes. Very few start planning at the beginning of the year. The article will help individuals to plan their taxes well in advance so that can invest and plan in systematic manner much in advance. The Article gives you brief idea on how to save tax and at the same time make proper investment and cover insurance and Medical expenses risk.

article author CA Chirag Chauhan

Posted On:  8 months ago


Change in Interest rates on Small Savings Scheme from April 2017

Change in Interest rates on small Savings Scheme from April 2017 This article will give you information about the latest amendments in interest rates of various small savings scheme. The following are the various types of small savings scheme:

article author CA Chirag Chauhan

Posted On:  9 months ago


12 Things to be done before 31st March, 2017

As we are approaching towards the end of this financial year, there are certain things we should do before the year comes to an end. It is time to ensure that you have your documents and all the pending formalities in place. Tax Planning is important for every taxpayer and the same needs to be done before the end of the year to which Income Pertains. In Addition to Tax Planning Assessee needs to Collect Relevant Supporting and Calculate His Tax Due and Pay the same. Here we have listed things which Assessee needs to do before the end of the year

article author CA Chirag Chauhan

Posted On:  9 months ago


Financial and Tax planning Gift for Women on their very own day – Happy Women Day!

A woman’s best security is a little money of her own. Demonization proved all theories of women being spenders wrong, by finding lacs in savingof Rs 500 and Rs 1000 notes, saved from reimbursement received for household expenses. We have a very small percentage of salaried women in India. Most women in urban areas do a brilliant job of self-employment ranging from tutoring, handicraft, small trade etc

article author CA Chirag Chauhan

Posted On:  10 months ago


Why should you invest in ELSS for 80C and RBI bond before March?

After demonetization, the only asset class which seems to be giving positive double digit returns is equity. The real estate investment has given zero return in last 4 years. With government capping tax exemption on interest on second property, investing in real estate may not give return in coming years. Investment in fixed deposit is meaning less as it gives negative return considering high inflation and if you include taxes it becomes even worst.

article author CA Chirag Chauhan

Posted On:  11 months ago


Receive digital payment for business and pay Zero Tax for sales up to 1 Crore - Section 44AD

The government on 19th December 2016 issued a press release for encouraging and Promoting Digital Payments & Creation of Less-Cash Economy. One of the measure was to reduced rate in presumptive taxation for transaction in digital mode. The rate of presumptive income of 8% will be reduce to 6% if receipts are done in digital form like wallets, NEFT, RTGS, etc

article author CA Chirag Chauhan

Posted On:  1 year ago


Know all about Tax Planning – What, Why and How?

Tax planning can be defined simply as planning your cash outflow towards payment of taxes in legitimate manner most beneficial to you. It draws attention to “Payment of taxes”, here question to be answered is how one can reduce that taxes or one can postpone it to future date using tax planning tools. “Legitimate Manner” means it should not be tax evasion using illegal tools of tax saving and hiding certain transactions.

article author CA Chirag Chauhan

Posted On:  1 year ago


Revised Interest rates on Small Savings Scheme w.e.f. from 1st October 2016

This article will give you information about the latest amendments and changes in interest rates of various small savings scheme. The following are the various types of small savings scheme:1) Sukanya Samriddhi Account (SSA): The interest rate has reduced to 8.5% from 8.6% now. The main purpose of introducing this scheme is to promote welfare of the girl child. ‘Sukanya Samriddhi Account’ can be opened at any time from the birth of a girl child till she attains the age of 10 years, with a minimum deposit of Rs 1000

article author CA Chirag Chauhan

Posted On:  1 year ago


How to avoid clubbing of minor child income with parents

Firstly, to start with what does clubbing of income really mean? Generally a person is liable to pay tax on his/ her earnings only. But under certain circumstances inclusion i.e., clubbing of other persons income is done in the assessee’ s income and thereby he will be liable to pay tax of his income as well as income of that other person too whose income is so clubbed. This inclusion of other person’s income in the assessee‘s income is termed as “Clubbing of income”.

article author CA Chirag Chauhan

Posted On:  1 year ago


Deductions under 80C available for Non Resident Individuals (NRI’s)

Contributions by an individual or HUF to specified scheme U/S 80c qualify for a deduction up to an aggregate ceiling of Rs. 150000 from gross total income. There are no ceilings on deductions u/s 80C for individual schemes, unless the rules of the schemes provide for their own limits. These schemes include:

article author CA Chirag Chauhan

Posted On:  1 year ago


Tax Planning For Salaried Employees

For most of the people, tax planning involves taking benefit of Section 80 C of Rs. 1,50,000/-. True this is one of the most important tax saving tool, there are other avenues available for the employees. I would like to categorize the tax planning tools into three parts

article author CA. Dhruv Gaglani

Posted On:  1 year ago


Due date of Filing Income Tax Returns for Financial Year 2015-16 Assessment Year 2016-17

Filing of Income Tax Return is tedious task and should be complete well before the due dates. Most of times there are confusion in relation to due dates applicable for various type of whose earn different kind of Income.The point to be noted is Basic limit include all Income without any deduction in Section 80C to 80U and any other deduction. So in case your Income is 3 Lakhs .

article author CA Chirag Chauhan

Posted On:  1 year ago


Income Tax Return Filing - An Important Annual Event of All Assessee

Importance of filing Income Tax Return & Steps to be taken while filing return. We are in the month of July 2016 and it is the time for an Important Annual Event of all the Income Tax Return fillers especially for all those who are required to file their Income Tax Return (ITR) of FY 2015-16 by 31.07.2016.

article author CA BHAVESH HINGU

Posted On:  1 year ago


All about Capital Gains

The Article Discusses about Tax Treatment of Long Term Capital Gain arising from Transfer of Capital Assets under Income Tax Act, 1961. Articles  discusses Meaning of Capital Assets, What Constitutes a Capital and what is not a capital Asset, How to Apply Indexation Provisions, Period for Computation of Long Term Capital Asset, Tax on long-term capital gain normally @ 20% but in certain special cases @10%, Adjustment of LTCG against the basic exemption limit and Deductions under sections 80C to 80U and LTCG.

article author Ashish Srivastava

Posted On:  1 year ago


Tax benefits on home loan interest

Tax benefits on home loan Applicable when it’s the only house you own and it is not rented. Self-occupied means you live in the house. The tax treatment is same when it is lying vacant. If you own more than one property, only one is allowed to be treated as self-occupied, others are assumed to be rented.

article author Ashish Srivastava

Posted On:  1 year ago


All about Deduction U/S 80C to 80U

Taxes are an integral component in our country, with them accounting for a major portion of the income earned by the government, income which is utilised to provide certain basic provisions to citizens. Individuals who earn more than a certain amount are expected to pay taxes, as per the existing tax slabs. While these taxes can be harsh on the bank balance of a taxpayer, the government also provides certain provisions wherein one can save tax. Tax deductions can help one reduce the taxable income, lowering their overall tax liability and thereby helping th

article author Ashish Srivastava