View quick summary Waiting till the last minute to do your Tax Planning, can make you lose the Tax benefits you deserve. Here’s what you can still do. Financial security is the end goal of every individual. With the ever changing economical conditions, ensuring stability is a major concern. Better tax planning can help you achieve this goal in a comprehensive manner. However, … [Read more...] about It’s not too late to make the RIGHT MOVE
Report All Income When Filing Tax Return
One of the common mistakes made by tax payers while filing tax return is not reporting certain types of income. Non-reporting of exempt income, bank interest income or income from previous employer can not only invite penalty, but also a notice from the Income Tax department. Filing Tax return: Commonly Not Reported Income Exempt Income: Several incomes, such as dividends and … [Read more...] about Report All Income When Filing Tax Return
Indian tax laws give NRIs a raw deal
There has been a continuous effort in the past decade or so to make the income tax laws simpler, consistent and taxpayer-friendly. The effort has resulted in faster processing of refunds and improving compliance. However, no steps have been taken to reduce the discriminatory treatment meted out to the non-resident Indians (NRIs). They are not only charged a higher tax rate, but … [Read more...] about Indian tax laws give NRIs a raw deal
Little-known tax deductions you might have missed while filing returns
As Published in Economic Times on Jul 29, 2013. Paying more tax than is due is bad enough. It's worse if you don't even know you have overpaid and are eligible for a refund. Many youngsters are not conversant with tax rules and fail to fully utilise the deductions available to them. We studied last year's returns and found that nearly 51 per cent of salaried taxpayers had not … [Read more...] about Little-known tax deductions you might have missed while filing returns
Govt Probes Irregularities in IPL, Recovers Income Tax from BCCI
Union Minister of Finance, Pranab Mukherjee, today said that the government is looking into the complaints related to financial irregularities in the organisation of the popular T20 cricket tournament, Indian Premier League (IPL). During the Question Hour in the Rajya Sabha, he replied to a query regarding foreign investments in some IPL franchisees by stating that the … [Read more...] about Govt Probes Irregularities in IPL, Recovers Income Tax from BCCI
