In 2007, the Income Tax Department started the facility to e-file income tax return (ITR) online for individual taxpayers, under its agenda of e-governance. Today, e-filing of ITR is among the most popular facilities introduced by the government of India. In the Financial Year 2011-12, more than 16 million returns were filed online. That is 4000% growth in 5 years. However, the … [Read more...] about Adopt Efiling for Its Ease and Security
Mistakes You Didn’t Know You Were Making with ITR Filing
Filing income tax return (ITR) is a compliance requirement that needs to be attended by taxpayers every year. Most people have no clue about how it works and end up making mistakes that can take away a lot of their time and energy. There are some individuals who make the mistake of not filing the tax return itself. While a category of persons has been made exempt from tax … [Read more...] about Mistakes You Didn’t Know You Were Making with ITR Filing
Personal Finance Planning Guide
View quick summary The three pillars of smart personal finance planning are saving, borrowing and investing. Always try and save 25%-30% of your income except if you are a retired senior citizen. You should always borrow within your limits. This will keep your financial cost low (personal loans/credit cards are high cost funds - best used only in emergencies) and will help … [Read more...] about Personal Finance Planning Guide
Budget 2013: What’s in store for you?
The Budget 2013 was announced today. 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. No Revision in Tax Slabs or Tax Rates: Per our Finance Minister, "In a constrained economy, there is little room to raise tax rates or … [Read more...] about Budget 2013: What’s in store for you?
The Need for Financial Planning
View quick summary Are you in control of your money or is money controlling you? If you want to control your money you will require good financial planning. Financial planning is nothing but controlling your finances. Instead of working all life to grow your corpus, seeking good financial planning can enable your money to grow and work for you. It can make your cash flow more … [Read more...] about The Need for Financial Planning
