In succession to the second edition of ‘India Tax Ratio Report’, TaxSpanner is pleased to release the 2013 edition of the ‘India Tax Ratio Report’. The aim of this report is to identify tax-paying and returns-filing patterns of the salaried individuals in India. The new section included in this year’s report is tax trends of senior citizens. Another interesting addition is the … [Read more...] about India Tax Ratio Report 2013
Tax To-Do list: Health is wealth – quite literally
If you are looking for both protection for yourself and your family, Section 80D qualifies for tax deduction in mediclaim policies. In today’s world, stress and lifestyles are having an adverse impact on our personal and family health. Medical Policies and health plans help you and your family members by protecting them from sudden medical expenses. However, most people fail to … [Read more...] about Tax To-Do list: Health is wealth – quite literally
PAN is must to eFile Income Tax Return
Permanent Account Number (PAN) is a ten digit alphanumeric number. It is issued in the form of a laminated card (called PAN Card), by the Income Tax department. PAN Card: Key Points to Remember You must have a PAN to file your income tax return. You don’t need to necessarily file a return just because you have a PAN. You need to file income tax return only if your gross … [Read more...] about PAN is must to eFile Income Tax Return
Tax To-Do list: Claim what is rightfully yours
Allowances are an essential component of your basic salary structure. These facilities offered by your employer are your right and claiming the same is highly recommended. HRA, LTA, conveyance allowance, reimbursements of medical bills are basic allowances that salaried individuals are entitled to. You should avail the same to reduce your taxable income. However, remember that … [Read more...] about Tax To-Do list: Claim what is rightfully yours
Tax To-Do list: Self assessment – a must do
Just like in real life, we observe and self assess ourselves to be the people we want to be, based on our previous actions and behavior, self assessment of tax is the same. Self assessment tax is the amount that taxpayers still owe to the government after paying TDS and advance tax. The Income Tax Department has been very strict about the submission of self assessment tax. … [Read more...] about Tax To-Do list: Self assessment – a must do
