View quick summary Almost 70% of all insurance policies are bought in the last three months of a financial year. This indicates that many of these plans have been bought with the sole purpose of tax saving. Majority of buyers don’t care what they are buying as long as it helps them save tax. If you are such a tax payer, be careful when you buy a ULIP. Tax payers must understand … [Read more...] about What is ULIP?
Real Estate is the Best Investment
View quick summary Real estate is the best of all investments for all investors, at any age. Read on to see why: • Home is a basic need further sweetened by tax benefits and lower rate of interest. • Do not be influenced by any preconceived notions and be a proud owner as soon as possible. • Buy it with loan, its financial prudence. You don’t need to either put all your money … [Read more...] about Real Estate is the Best Investment
Mistake by return filing portal doesn’t call for concealment penalty on taxpayer
A very interesting ruling has recently been made in favor of one of our esteemed customer, mentioning TaxSpanner.com in the judgment (see the complete text below). We congratulate her for the favorable judgment. However, we would like to clarify that the software works on the basis of data entered into the system by the customer. Our tax filing software undergoes several levels … [Read more...] about Mistake by return filing portal doesn’t call for concealment penalty on taxpayer
Budget 2012: What’s in store for you?
View quick summary The Budget 2012 was announced on March 16. Here, we talk about a few changes proposed by the Finance Minister, which will impact personal taxation directly. These proposals will become a part of the income tax law only when the parliament passes them. Revised Slabs for Income Tax Exemption: The key changes proposed are: Exemption limit for individuals has … [Read more...] about Budget 2012: What’s in store for you?
How Nonsensical is Year End Tax Planning
View quick summary A salaried person gets a fair idea about what his annual income would be at the beginning of the financial year. Still, most employees do not take their Tax Declaration to the employer seriously. They wait for the year-end to plan their taxes. One reason why all of us work hard through the year is to make money. Then, does it make sense to procrastinate … [Read more...] about How Nonsensical is Year End Tax Planning
