InvestmentYogi

Income tax saving investment options

Income Tax - Once again, most of you all might have filed in the Income Tax returns but still at the back of the mind wished that you could have paid less taxes or to save more for the upcoming year. People falling in the high income group often miss out on some of the lesser known tax planning strategies which could substantially reduce their tax l...

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Landlord PAN Mandatory for Rent Over 1 lakh P.A.

Income Tax - Any salaried person would have heard of a term called HRA (House Rent Allowance). It not only gives benefit in the form of allowance but also gives an opportunity for tax exemption up to a certain limit. Almost every salaried employee takes this benefit. IT department also provides the facility of claiming tax benefit on HRA for [&helli...

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Get a preventive health check-up done and save on tax too!

Income Tax - The government provides tax deduction benefit of upto INR 5,000 under Section 80D on account of preventive health check-up for self, spouse, dependent children and parents. However, this deduction benefit is inclusive of the overall deduction under Section 80 D (INR 15,000 per annum) for payment of health insurance premium. If one of your...

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Income Tax Ready Reckoner – For Last minute Tax Planner

Income Tax - With zeal I filled in my Investment Plans for the year in the month of April last year, gleaming at the extra bucks that would come “In hand” every month. The “Plans” readily accepted by the HR Department and duly complied with in my monthly take home! In my zeal to meticulously spend those extra […]...

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Interest on Tax Payable u/s 234A, 234B, 234C

Income Tax - In case of individuals, if he does not deposit the tax at the right time or does not provide for FORM 16 to current employer after change of his company, he will be liable for interest on tax payable. This is also known as default in furnishing the income. These penalties are slapped under the following sections of 234A, 234B and 234C....

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Recent Posts in "InvestmentYogi"

Income tax saving investment options

Once again, most of you all might have filed in the Income Tax returns but still at the back of the mind wished that you could have paid less taxes or to save more for the upcoming year. People falling in the high income group often miss out on some of the lesser known tax planning strategies which could substantially reduce their tax l...

Read More
Posted Under: Income Tax |

Landlord PAN Mandatory for Rent Over 1 lakh P.A.

Any salaried person would have heard of a term called HRA (House Rent Allowance). It not only gives benefit in the form of allowance but also gives an opportunity for tax exemption up to a certain limit. Almost every salaried employee takes this benefit. IT department also provides the facility of claiming tax benefit on HRA for [&helli...

Read More
Posted Under: Income Tax | ,

Get a preventive health check-up done and save on tax too!

The government provides tax deduction benefit of upto INR 5,000 under Section 80D on account of preventive health check-up for self, spouse, dependent children and parents. However, this deduction benefit is inclusive of the overall deduction under Section 80 D (INR 15,000 per annum) for payment of health insurance premium. If one of your...

Read More
Posted Under: Income Tax | ,

Income Tax Ready Reckoner – For Last minute Tax Planner

With zeal I filled in my Investment Plans for the year in the month of April last year, gleaming at the extra bucks that would come “In hand” every month. The “Plans” readily accepted by the HR Department and duly complied with in my monthly take home! In my zeal to meticulously spend those extra […]...

Read More
Posted Under: Income Tax |

Interest on Tax Payable u/s 234A, 234B, 234C

In case of individuals, if he does not deposit the tax at the right time or does not provide for FORM 16 to current employer after change of his company, he will be liable for interest on tax payable. This is also known as default in furnishing the income. These penalties are slapped under the following sections of 234A, 234B and 234C....

Read More
Posted Under: Income Tax |

Creation of HUF – Tax Planning Advantage

Tax Planning is an important agenda of any individual. People often end up paying taxes even after exhausting their limits under Section 80C, 80 D and so on. However, do you know that a very important tool which is often overlooked, is formation of a HUF, which is a legitimate way of reducing your tax liability....

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Posted Under: Income Tax | ,

All About Securities Transaction Tax (STT)

Securities Transaction Tax (or STT in short), is the tax deduction that is applied to all your equity transactions. Introduced in the 2004 Union Budget by the then Finance Minister Mr. P Chidambaram, the deduction is to ensure that gains arising from securities transaction are taxed at source, thus preventing individuals from evading capi...

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Posted Under: Income Tax | ,

Understand Your PAN Card

Whether you are an Indian citizen or an NRI, if you are filing taxes or have financial transactions in India you will almost always need a PAN card. What is PAN? A Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department of […]...

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Posted Under: Income Tax | ,

Tax Implication of Stock Split

As stock market investors, we are beneficiaries to various corporate actions like bonus, rights and stock splits. These corporate actions are accompanied by stock price movements in short and long run affecting capital gains whenever we sell shares. As there is an effect on capital gains, tax implication also changes if we sell shares p...

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Posted Under: Income Tax | ,

How to Get Your Pending Income Tax Refund: Tax Ombudsman

Delays in income tax refunds, even after the stipulated number of months, are faced by many tax payers. Running from pillar to post at the income tax office, having to deal with impolite income tax officials become a part of the ordeal. At such times tax payers often feel helpless with absolutely no recourse. To […]...

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Posted Under: Income Tax | ,
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