Income tax articles

Changes are in the air. With a new tax law, Direct Tax Code (DTC), coming in effect from April 2012, investors will have to change their tax strategies. The current DTC draft proposes some elementary changes in current taxation laws. Let’s find out what is changing and how will it impact your choice of tax-saving [...]

With 31st March is just around the corner, most of us would have by now started this year's tax planning.After all, there arefew more demoralizing things than watching your hard-earned income get slashed by taxes. While some hire chartered accountants, others pore through tax laws, or ask friends to find out how to save tax. [...]

Besides Income-tax, there is another direct tax act namely Wealth Tax Act, 1957 which imposes tax on individuals coming within its purview. Pensioners, retired persons or senior citizens have not been accorded any special benefits under this Act. Wealth tax is an annual tax like income tax. Every person comes under the preview of this [...]

In the Income Tax Act, Section 80CCF has been introduced for the FY 2010-11, wherein investments in infrastructure bonds to the extent of Rs. 20,000 will be eligible for tax deduction. This is in addition to the permissible deduction of Rs. 1 lakh from annual income under sections 80C, 80CCC and 80CCD of the Income [...]

As the tax return filing deadline draws nearer, individuals start looking at options to complete the process quickly as there is no time to waste. They have two options � to file their returns in the traditional form using the physical process or to switch to the online route. However, the choice should be made [...]

There is some good news for all of us. Most world economies are on the path of recovery and the dreary recession is behind us.
Though recession threatened our job, our lifestyle and our existence at one point in time, it nonetheless taught us some basic, yet important, money management lessons. We learnt to stretch our [...]

Higher education is no more the prerogative of the rich and the privileged. To acquire it, all you need is hard work and strong will, and as far as the money part is concerned, there is always an educational loan. After all, educational loans are meant to ensure that there are no limitations on getting [...]

An investment is made in a financial instrument keeping a particular objective in mind. And if the investment is done in a proper and systematic manner, it can single-handedly take care of multiple objectives. However, multiple objectives are achieved through several specific steps that might lead to different consequences for the investor.
Prateek is a 29-year-old [...]

One of the positive aspects of a housing loan is it offers several tax benefits to the person taking a loan. These benefits cover the interest as well as capital component of the loan repaid through equal monthly instalments (EMIs) over the tenure. But many a time it is not possible for a single individual [...]