April & May is the time when your company allows you to restructure your CTC which helps you to optimize your taxes and accordingly declare your investments. Moreover, your company has rolled out the New Pension System (NPS), now employees can save additional tax of up to 1-3% of their basic salaries. If a company puts 10% of the basic salary of an employee in the NPS, that … [Read more...] about Restructure your salary this week, save additional tax with NPS
EIGHT reasons to invest in the Sovereign Gold Bonds
The Sovereign Gold Bonds scheme that opens on 24 April is a golden opportunity for those wanting to invest in the precious metal. Resident Indians, HUFs, Trusts, Universities and Charitable Institutions can apply. Here are five reasons why you should go for these bonds. Just like gold but no making charges: The bonds are linked to the price of gold so investing in these bonds … [Read more...] about EIGHT reasons to invest in the Sovereign Gold Bonds
File income tax returns on time or face increasing I-T scrutiny
As the new financial year unfolds it would soon be time for taxpayers to file their returns. If you are one of the nearly 4 crore taxpayers, you must ensure that you file your returns within the stipulated due date. As the new financial year unfolds it would soon be time for taxpayers to file their returns. If you are one of the nearly 4 crore taxpayers, you must ensure that … [Read more...] about File income tax returns on time or face increasing I-T scrutiny
New Income Tax Forms Notified: 5 Changes you Should Know
Now, mentioning Aadhar number is mandatory for filling income tax return. You have to mention the 12-digit Aadhaar number or the 28-digit Aadhaar enrolment number while filing the income tax return. It's an attempt to simplify the tax filing process and reduce the compliance burden on the taxpayer. The Central Board of Direct Taxes (CBDT), the income tax regulator, has notified … [Read more...] about New Income Tax Forms Notified: 5 Changes you Should Know
Lalwani can cut tax by Rs 1.6 lakh via pay structure revamp, NPS
Bengaluru-based IT professional Jitesh Lalwani pays a very high tax because his salary structure and investments are tax inefficient. Taxspanner estimates that Lalwani’s tax can be reduced by nearly Rs 1.6 lakh if the pay structure is rejigged, he saves more for retirement and buys health insurance for his family and his mother. Lalwani should ask his company for reimbursement … [Read more...] about Lalwani can cut tax by Rs 1.6 lakh via pay structure revamp, NPS
