Bengaluru-based software professional Kiran Manjrekar earns a handsome salary, but almost 20% of it goes into tax because his pay structure is very tax unfriendly. Taxspanner estimates that Manjrekar can save more than Rs.1.25 lakh in tax if his company agrees to give him some common tax-free perks and also extends the NPS benefit to its employees. The only tax-free … [Read more...] about How Salary Restructuring Helped in Saving Tax?
The budget changes tax laws every year. Do you change to take full benefits?
Change is not easy in the beginning but it becomes so after you correct financial beliefs. You are waiting for the Budget 2021 for tax reliefs as if they are going to change your financial decisions. But the fact is very few actually understand correctly and remember the tax benefits given to taxpayers in past budgets. We do take financial decisions based more on emotions … [Read more...] about The budget changes tax laws every year. Do you change to take full benefits?
Steps by step guide to e-File Your ITR
In this blog Tax Spanner team will take you through all the steps in filing ITR. Before we get started, you should keep the following documents handy to complete the process smoothly: PAN CardAadhaar CardBank account detailsForm 16 & 26ASInvestments details Step 1: Log in to my account on taxspanner.com Step … [Read more...] about Steps by step guide to e-File Your ITR
5 Ways to E- verify Your Tax Return
What is ITR V? Income Tax Return Verification (ITR-V) is a receipt sent by the Income Tax Department acknowledging that the taxpayer has successfully filed the income tax return. If you have not filed your ITR this year then first select the suitable package and file your ITR with the help of Tax Spanner.It is mandatory for you to verify your return to … [Read more...] about 5 Ways to E- verify Your Tax Return
Long Term Capital Gains Tax on Sale of shares and equity-oriented mutual funds.
Background Before 1st April 2018, long-term capital gain (LTCG) on the sale of shares and equity-oriented mutual funds on which Securities transaction Tax has been paid was exempted by the Indian Government. New Law & Applicability But in the year 2018 government passed a law making LTCG taxable at a rate of 10% on gains over Rs 1 Lakh a year without … [Read more...] about Long Term Capital Gains Tax on Sale of shares and equity-oriented mutual funds.