Tax planning is an integral part of financial planning. Ideally, it should be taken care at the start of the financial year. However, most taxpayers tend to procrastinate their investments and wake up between December and March in a rush to save tax. This leads to minimal tax saving benefits. Did you know that an average taxpayer in India pays 30 - 35% more tax in comparison to … [Read more...] about How to Slash Your Taxes by Half?
How to E-Verify Your Income Tax Returns?
You have filed your Income Tax Returns (ITR) and are satisfied that you have accomplished one of the most important tasks related to your finances. But, are you sure you have completed all your formalities pertaining to returns? If you haven’t verified your returns yet, it is as good as not filing returns! As per the directives of the income tax department, the filing of … [Read more...] about How to E-Verify Your Income Tax Returns?
The Real Cost Of Filing Tax Returns For Free
(As Published in Economic Times on July 11, 2016) If we have the choice of paying for a service or getting it for free, most of us will choose the second option. After all, why shell out money for something that can be done at no cost? This is why a majority of taxpayers opt for filing their tax returns for free. However, taxpayers who opt for the free option may be paying a … [Read more...] about The Real Cost Of Filing Tax Returns For Free
Things to Know About Tax Refunds
What are the Points to Take Care of for Income Tax Refund? As per the Income Tax laws of India, you are eligible for a refund if you have paid excess tax or your employer has deducted excess Tax Deducted at Source (TDS). However, there are many doubts and misconceptions pertaining to refunds, which TaxSpanner will address through this article. With the right information at your … [Read more...] about Things to Know About Tax Refunds
How India Pays Income Tax!
In a land of one billion, you will be surprised to learn that there are only 1.6 cr individuals who have filed returns but paid zero tax, while there are only 1.1 lakh individuals who have declared an income between 10-25 lacs, and only 3 have declared income above Rs 100 crore – as per the the data of A.Y 2012 -13. These statistics seem difficult to accept as we constantly … [Read more...] about How India Pays Income Tax!
