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Written by Ranjan
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Saturday, 10 July 2010 13:28 |
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The last date of filing your Income Tax Returns is coming closer - July 31, 2010. A gentle reminder so that You should not be left stranded the eleventh hour to file your returns, trying to find someone who would prepare and file the tax return for you.
A very friendly and upcoming option is e-filing. Now there are very intuitive tax applications which offer you live chats and help/tutorials in helping you to file your taxes online. It also gives you an opportunity to learn a bit of your finances yourself. I mean by doing it by yourself, you learn a lot about your finances and how you can improve upon it.
I am happy to inform that InvestmentYogi's tax application TaxYogi has been specially white labeled for my blog/website readers. Take a look.
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Read more... [Online Tax Filing by TaxYogi]
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Written by Ranjan
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Saturday, 19 June 2010 13:24 |
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The revised discussion paper on the Direct Tax Code (DTC) was released on June 15, 2010, by the Ministry of Finance (MOF). It seems that this new draft has abandoned the intent and spirit of the originally proposes draft.
Before we get into a more detailed discussion let us illustrate this with a quick example. Earlier, the original DTC paper had proposed the following income tax rates for individuals:
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Taxable Income
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Tax Rate
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Upto Rs 160,000
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Nil
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Rs 160,001 to Rs 10,00,000
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10%
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Rs 10,00,001 to Rs 25,00,000
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20%
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Rs 25,00,001 & above
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30%
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But, now it appears that even this could be tweaked. A senior CBDT (Central Board of Direct Taxes) said, “this could be tweaked and the prerogative to fix the rate will be with the legislature”. The trade-off could be to scale down the liberal tax slabs for individuals proposed in the original code. And that is bad news for the tax payers.
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Read more... [A Review Of The Proposed Direct Tax Code (DTC)]
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Written by Ranjan
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Thursday, 07 February 2008 13:56 |
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Rajesh Soni takes a look at the top 5 tax saving Mutual Funds for the purpose of claiming tax benefits under Sec. 80C of Income Tax Act. He has analysed them on their returns as well as the risk profile (standard deviation)
Hop on to his blog for all the details and analysis
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Last Updated on Monday, 14 November 2011 12:22 |
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Read more... [Top Five Equity Linked Saving Schmes (ELSS) which also save Tax]
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Written by Ranjan
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Sunday, 02 December 2007 15:22 |
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Selecting the right tax-saving fund is easier said than done. There are various tax saving Mutual Funds available and the factors that you should weigh in before signing the cheque.
Update: Tax Saving ELSS Mutual Fund schemes may no longer save tax when the Direct Tax Code is applicable wef 1.4.2012. Meanwhile the PPF limit has been raised from Rs 70K to Rs 100K. Check out updates on Tax news
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Last Updated on Saturday, 31 December 2011 17:36 |
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Read more... [How to select Tax Saving mutual Fund]
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