Balwant Jain

Taxation of pension

Income Tax - People working in government services or those working with government departments get pensions after retirement from their services additionally people who have contributed towards Employee Provident Fund (EPF) also get pension under Employee Pension Scheme (EPS), 1995. Even after the death of the employee their family members are also e...

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Taxation of leave Encashment

Income Tax - The encashment of leave is allowed during continuance of the employment as well as on leaving the job as part of full and final settlement. Income tax laws also give concessional treatment for encashment of such paid leaves by employees....

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Taxation of Gratuity

Income Tax - People employed in organised sector and with governments receive gratuity at the time of their retirement/death. Gratuity also becomes payable on termination of services. The gratuity becomes payable only if one has service for continuous five years with the same employer. Though many of your might have received gratuity but most of you ...

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Tax implication of partial or full withdrawals from PPF, EPF & NPS

Income Tax - We have already discussed the withdrawal facility for three major retirement products- Employee Provident Fund (EPF), Public Provident Fund (PPF) and National Pension System (NPS) in previous articles. Now it is logical to understand and discuss the tax implications for such withdrawals....

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Tax benefits for NPS contribution

Income Tax - After having discussed the withdrawal rules for National Pension System (NPS) last week, this let us discuss income tax benefits available for contributions made by you to your NPS account.  Though you can open Tier I and Tier II account under the NPS, the tax benefits are available only in respect of contributions made to […]...

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Recent Posts in "Balwant Jain"

Taxation of pension

People working in government services or those working with government departments get pensions after retirement from their services additionally people who have contributed towards Employee Provident Fund (EPF) also get pension under Employee Pension Scheme (EPS), 1995. Even after the death of the employee their family members are also e...

Read More
Posted Under: Income Tax |

Taxation of leave Encashment

The encashment of leave is allowed during continuance of the employment as well as on leaving the job as part of full and final settlement. Income tax laws also give concessional treatment for encashment of such paid leaves by employees....

Read More
Posted Under: Income Tax | ,

Taxation of Gratuity

People employed in organised sector and with governments receive gratuity at the time of their retirement/death. Gratuity also becomes payable on termination of services. The gratuity becomes payable only if one has service for continuous five years with the same employer. Though many of your might have received gratuity but most of you ...

Read More

Tax implication of partial or full withdrawals from PPF, EPF & NPS

We have already discussed the withdrawal facility for three major retirement products- Employee Provident Fund (EPF), Public Provident Fund (PPF) and National Pension System (NPS) in previous articles. Now it is logical to understand and discuss the tax implications for such withdrawals....

Read More

Tax benefits for NPS contribution

After having discussed the withdrawal rules for National Pension System (NPS) last week, this let us discuss income tax benefits available for contributions made by you to your NPS account.  Though you can open Tier I and Tier II account under the NPS, the tax benefits are available only in respect of contributions made to […]...

Read More
Posted Under: Income Tax |

Withdrawal rules for your provident fund account

Provident Fund is a product which helps salaried people to accumulate funds while they are earning for the period the income flow stops. So generally it is not supposed to be withdrawn before its maturity and jeopardise one’s retirement. However there are circumstances when resorting to the money accumulated in the provident fund accoun...

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Posted Under: Income Tax |

Want to use the money in your PPF account? Know the rules

Public Provident Fund (PPF) account is an excellent tool for tax planning as well as for accumulating funds for retirement. The money in PPF account is not supposed to be used any other purpose except under exceptional circumstances. PPF rules allow you to use the money before its maturity. Let us discuss how one can […]...

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Posted Under: Income Tax |

Everything you wanted to know about an index fund

Article explains What is an Index Fund, Features of an Index Funds, What is a tracking error and why it is there in the index fund, who should invest in Index Funds and What type of index funds one should invest....

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Posted Under: Income Tax |

Is PPF as tax saving product better than ELSS now

First there was 10% tax on equity share and equity oriented mutual funds schemes (ELSS is an equity oriented scheme) and now the recent increase in the PPF rates accompanied with meltdown in the equity market has created a perception that PPF has become a better tax saving product than ELSS.  Is it really so? Let us […]...

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Posted Under: Income Tax |

Have the tax saving Fixed deposits become more attractive to senior citizens

The recent increase in the interest rates on small savings schemes for the current quarter will sooner than later force the banks to increase interest rates offered by them on fixed deposits. With the imminent increase in the fixed deposits interest rates by the banks, the fixed deposits will become a more attractive investment product sp...

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Posted Under: Income Tax |

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