Tax Planning

What is Tax Planning & Why it is Important for Individuals or Businesses

Income Tax - A tax is a mandatory charge levied by the government on an individual’s or a business’s hard-earned income during any financial year. While paying taxes is certain and inescapable there are various ways to diminish this burden and one such measure is tax planning. Tax planning is a process of analyzing one’s financial situation duri...

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Bank Fixed Deposits – Taxability, Deduction & Tax Planning

Income Tax - We know that Bank Fixed Deposits /Recurring deposits are the most trusted instruments for savings in our country. The people generally wants to deposit their hard earned money in bank in FDs/RDs. These instruments generated interest income and same is a  good source of income for senior citizens. The banks and government have came with [...

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All about Investment in Equity Shares & Tax planning !

Income Tax - During the time slot of COVID-19 Pandemic record breaking Demat accounts and Trading accounts have been opened in Share Market in India. In the past more and more people use to invest their funds in FDs , Post Offices, Bonds etc. as a traditional method in search of some additional Income, due to increasing inflation […]...

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How to maximise your tax saving by choosing the right insurance policy for yourself & family?

Income Tax - The point of getting insurance is that it is the highest form of assurance. Insurance is a binding agreement between the insurer and the insured that gives the insured access to the best form of care, depending on the policy purchased....

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How can Companies Save Tax through Mutual Fund Investments?

Income Tax - How to save tax through mutual fund investment? Well, for individual investors, there are a plethora of answers; can companies save tax? Well, let’s dig into it....

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DTC will not provide deduction for donation to relegious trust and may tax NGOs

Income Tax - Trusts and institutions carrying out charitable activities will face more stringent taxation regime when the new direct taxes code comes into play from April 1, 2011.The new Code will particularly hit non-governmental organisations (NGOs). All NGOs and charitable trusts registered with the Tax Department may be required to fork out 15 per...

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Fund managers not willing to annouce dividend this year

Income Tax - Money managers, who have historically used dividends as a ploy to lure investors to tax-saving stock funds, are shying away from payouts this year, as a savage share market decline limits distributable surplus. Only seven tax funds have announced dividends in 2008/09, compared to 20 last year. The March quarter, which typically sees hecti...

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S. 10(38) Sale of land through sale of shares by company holding only land is valid

M/s Bhoruka Engineering Inds. Ltd Vs The Deputy Commissioner of Income Tax (Karnatka High Court) - Bhoruka Steel Limited (BSL) was incorporated in the year 1969. The company became a sick industrial company within the meaning of SICA.It was proposed that 30 acres of land along with building and structure to be disposed of....

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Supreme Court upheld Dividend-Stripping Law

CIT Vs. Walfort Share & Stock Brokers (Supreme Court of India) - Wallfort Shares & Stock Brokers, a Five Member Special Bench of the Tribunal (96 ITD 1 (Mum) (SB)) and the Bombay High Court (310 ITR 421 (Bom)) held that the ‘loss’ incurred by an assessee in ‘dividend-stripping’ transactions cannot be disallowed on the ground that it was ‘tax-planning‘...

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Recent Posts in "Tax Planning"

What is Tax Planning & Why it is Important for Individuals or Businesses

A tax is a mandatory charge levied by the government on an individual’s or a business’s hard-earned income during any financial year. While paying taxes is certain and inescapable there are various ways to diminish this burden and one such measure is tax planning. Tax planning is a process of analyzing one’s financial situation duri...

Read More
Posted Under: Income Tax |

Bank Fixed Deposits – Taxability, Deduction & Tax Planning

We know that Bank Fixed Deposits /Recurring deposits are the most trusted instruments for savings in our country. The people generally wants to deposit their hard earned money in bank in FDs/RDs. These instruments generated interest income and same is a  good source of income for senior citizens. The banks and government have came with [...

Read More
Posted Under: Income Tax |

All about Investment in Equity Shares & Tax planning !

During the time slot of COVID-19 Pandemic record breaking Demat accounts and Trading accounts have been opened in Share Market in India. In the past more and more people use to invest their funds in FDs , Post Offices, Bonds etc. as a traditional method in search of some additional Income, due to increasing inflation […]...

Read More
Posted Under: Income Tax |

How to maximise your tax saving by choosing the right insurance policy for yourself & family?

The point of getting insurance is that it is the highest form of assurance. Insurance is a binding agreement between the insurer and the insured that gives the insured access to the best form of care, depending on the policy purchased....

Read More
Posted Under: Income Tax |

How can Companies Save Tax through Mutual Fund Investments?

How to save tax through mutual fund investment? Well, for individual investors, there are a plethora of answers; can companies save tax? Well, let’s dig into it....

Read More
Posted Under: Income Tax |

Tax Planning Vs. Tax Avoidance Vs. Tax Evasion

Tax is a mandatory fee levied by the Government on an individual or entity to collect revenue for public work and we all are aware of the importance of tax for the development of any country. But, in many instances, we come across the news in our surroundings about tax evasion or non-payment of tax […]...

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Posted Under: Income Tax |

Save your Income Tax Liability with simple Tax planning

Everybody wants to reduce Income Tax liability but most of them do not know how to reduce Income Tax liability legally. Some know partially. As a result of which, they pay more tax which they can save. My efforts in this article are to throw a light on the issue to help you in reducing […]...

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Posted Under: Income Tax |

Tax Planning for Individuals under Income Tax

Tax Planning may be described as legal way of reducing of tax liability in a year by investing in different schemes as prescribed by income tax Act. It may also include entering or exiting investment schemes so as to save maximum tax possible within the legal framework. Need For Tax Planning Tax payments are compulsory […]...

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Posted Under: Income Tax |

Advance Tax Provisions, Challan, e-payment Utility & Examples

As per section 208, every person whose estimated tax liability for the year is Rs. 10,000 or more, shall pay his tax in advance, in the form of advance tax. In this part you can gain knowledge on various provisions relating to payment of advance tax by a taxpayer....

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Posted Under: Income Tax | ,

How to Save Tax after Sale or Transfer of Residential House Property?

This question come in the minds of many how to save tax when we sale or transfer residential house property and then invest those amount to buy any other asset. Income tax provides tax exemptions to individual or HUF who sold his old house and from the sale proceeds he purchased another house. Under Section […]...

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Posted Under: Income Tax |

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