Did you know that efiling income tax return saved around 100 million sheets of paper in 2010? On an average, preparation of every individual tax return on paper requires around 10 sheets for printouts and photocopies. E-filing income tax return, therefore, saves lakhs of rims of paper. What’s more? E-filing does not need any physical helpdesk, completely eliminating the trouble … [Read more...] about Efiling Income Tax Return – Save Paper, Save Time
Filing Income Tax Returns: Precautions
Beware of some of the commonly made mistakes while filing income tax returns. Here are some points that you must consider before filing tax returns: Compromising Confidentiality of Tax Data: While you should always seek financial advice from unbiased and reliable sources, some companies offer services of filing income tax returns simply to obtain the financial data from … [Read more...] about Filing Income Tax Returns: Precautions
Save Tax to Buy a Gift for your Valentine
As Published in ET Wealth on Feb 11, 2015 Valentine’s Day is just around the corner. What will you gift your beloved? Perhaps a diamond ring? Or a box of chocolates? Your choice will depend on how well you planned your finances during the year. If you were lazy and did not pay attention to your tax planning, the tax deducted from your salary would leave you with very little to … [Read more...] about Save Tax to Buy a Gift for your Valentine
Expectations from Budget 2015
As most of us are aware, the present government has come to power on agenda of development and controlling black money. Hence, budget proposal is expected to focus on higher economic growth and eradicating corruption. Modi Government has identified and started working on key initiatives of “Make in India” and “Skill, scale and speed” for higher growth. Thus, tax proposals … [Read more...] about Expectations from Budget 2015
Tax Saving through Housing Loan
Housing loan is an interesting tax saving tool. Interest on home loan is deductible from your salary, provided you have possession of the house. If your house is under construction, interest will be accumulated till you get possession. Thereafter, deduction will be allowed in five equal installments for next five years, along with the interest of that financial year. Home Loan … [Read more...] about Tax Saving through Housing Loan
