How professional Mavalankar can save tax via NPS, rejigging perks

The medical reimbursement and conveyance allowance in her salary are now taxable following the introduction of standard deduction. These can be replaced with the magazine and newspaper allowance and a higher telephone reimbursement. These perks are tax free against submission of actual bills. This rejig will save her about Rs 10,600 in tax. Income from […]

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Are low-cost Ulips worth investing in?

  NEW DELHI: Unit-linked insurance plans (Ulips) have been in the news ever since the Budget reintroduced long-term capital gains tax on equity investments. In the meantime, life insurers have carried out course correction and removed some of the shortcomings that nearly drove Ulips to extinction. Should you be interested? The poor reputation of earlier Ulips had much to do […]

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Don’t ignore these incomes while filing your tax return

However, tax filing portal Taxspanner found that almost 80% of taxpayers who filed their returns do not report any interest income. “Not declaring this income amounts to tax evasion and could fetch a notice from the tax department,” says Sudhir Kaushik, Co-founder and CFO, Taxspanner.com. Things become more serious if the undeclared income is substantial and tax […]

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Are low-cost ULIPS (Unit linked insurance plans) worth investing?

Unit-linked insurance plans (Ulips) have been in the news ever since the Budget reintroduced long-term capital gains tax on equity investments. In the meantime, life insurers have carried out course correction and removed some of the shortcomings that nearly drove Ulips to extinction. Should you be interested? The poor reputation of earlier Ulips had much to do with the […]

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