May 25th, 2011 | by Amit Sahrawat | published in Income Tax
What do you do if the amount of income tax deducted in any financial year is more than what is expected from your gross salary? While filing income tax return you can mention this and that will be taken care of by the income tax department. The reason for extra tax deduction can be attributed […]
May 22nd, 2011 | by Amit Sahrawat | published in Income Tax, TIPS
Every salaried employed might have checked in their Salary Slips regarding the income tax deducted from their salary component. In order to check the total amount of tax one has actually paid in any financial year, this can be checked online by creating an account at www.incometaxindia.gov.in Creating an account is very easy, provide your […]
March 21st, 2011 | by Amit Sahrawat | published in Income Tax, Investment
Direct Tax Code is the next big thing which is discussed among all the tax payers. Income Tax Act , 1961 which is being used at the present will soon be replaced by the Direct Tax Code(DTC), this has already been cleared by cabinet and will soon be presented in parliament for clearance and […]
February 4th, 2011 | by Amit Sahrawat | published in Income Tax, Investment
REC Long Term Infrastructure Bonds (under section 80CCF of Income tax Act, 1961) Highlights
February 3rd, 2011 | by Amit Sahrawat | published in Income Tax, Investment
IDFC Long Term Infrastructure Bonds – Tranche 2. Salient Features of the Issue :
January 6th, 2011 | by Amit Sahrawat | published in Income Tax
Around this time of year –there’s one question which is bound to come to everyone’s mind. How much do I have to save in order to reduce income tax liability or How much income tax I am liable to pay? What are the income tax slabs individual will fall under, how much income tax rebate […]
November 8th, 2009 | by Amit Sahrawat | published in Income Tax, Investment
Public Provident Funds: The PPF scheme offers assured returns and tax benefits under Section 80C of the IT Act. Minimum investments of Rs 500 and a maximum of Rs 70,000 annually are entitled to tax benefits under Section 80C. The lock-in period is 15 years with withdrawals allowed only after the 5th year. Rate of […]
November 8th, 2009 | by Amit Sahrawat | published in Income Tax, Investment
Following are the steps in tax planning which would aid a person in making prudent tax plans to reduce their income tax liability and ensure a better tomorrow by making compulsory savings by investing in various tar saving schemes. These steps in tax planning are: Compute the gross total income Calculate tax payable on gross […]
November 8th, 2009 | by Amit Sahrawat | published in Income Tax, Investment
Equity linked savings schemes (ELSS) floated by various fund houses, are equity-oriented mutual fund schemes with an added advantage of tax benefits under various sections of the Income Tax Act,1961. Schemes are floated as per the guidelines that qualify them as eligible schemes U/S 80 C of the Income Tax Act. Like any other equity […]
August 15th, 2009 | by Amit Sahrawat | published in General Awareness, Income Tax
Tax Information Network (TIN) hosted by National Securities Depository Limited (NSDL) on behalf of Income Tax Department (ITD) gives you a facility to verify whether the banks have correctly uploaded the details of your tax deposit to ITD through SMS. SMS based verification The procedure for availing this facility is as under: 1.   Send an […]