Income Tax : Indian income tax laws provide for certain tax benefits in respect of life insurance premium paid on life insurance policies as we...
Income Tax : Profit on sale of your gold is taxable as Capital Gains unless you are a dealer in gold and jewellery in which case it becomes tax...
Finance : Festive season generally coincides with developers and banks offering many beneficial schemes for home buyer. So if you are anyway...
Income Tax : The income tax laws provide various benefits in respect of house property be it for home loan or for claiming exemption for capita...
Income Tax : Article discusses Provisions applicable in respect of Life insurance health insurance premium, Provision for deductions for home l...
Post my two articles on National Pension System (NPS), the cabinet has made certain important amendment to NPS on 6th December, 2018. There is confusion galore in the minds of taxpayers about the implications and applicability of the decisions. Taxation of pension Tax benefits for NPS contribution Let us discuss. Increase in the contribution to be […]
In order to promote education, the government provides certain relief to the individual tax payers in respect of certain expenses incurred by them for education. Let us discuss these tax benefits. Tax benefits on Tuition fee for children You can claim deduction upto Rs. 1.50 lakh every year for tuition fee paid for full time […]
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.
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 are not aware as to how the gratuity is calculated. This article deals with how the gratuity is calculated as well as its taxation part.
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.
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 […]
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 account becomes […]
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.
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 […]
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 specially for senior citizens. Let us see how.
