Tax Refunds

(As Published in Economic Times on March 2, 2016) Salaried taxpayers must be delighted by the increase in tax saving investment limit announced in the budget. But the Rs 50,000 to be invested in the National Pension System under Section 80CCD will not be meaningful for those above 60. Seniors citizens hoping for a higher exemption and investment limits would have been … [Read more...] about Deductions in Budget 2015 Will Make Senior Citizens Happy

(As Published in Economic Times on March 6, 2015) Days after the Budget announced that tax deducted at source (TDS) will also apply to recurring deposits, banks are witnessing a rush of investors closing down their deposits prematurely. Though it is fully taxable, the interest from recurring deposits is exempt from TDS. This only applies to interest from fixed deposits if the … [Read more...] about Tds On Recurring Deposits From June 1 Force Investors To Close Down Deposits Prematurely

(As Published in Times of India on June 21, 2012) TaxSpanner, a website for e-filing of income tax returns, has launched India's first professional income tax course. The curriculum is a full-time 2-month course equivalent to 20 hours per week of coaching. It includes a 2-month guaranteed industrial training with TaxSpanner, during which those enrolled will be paid a stipend of … [Read more...] about Taxspanner Launches Professional Course For Income Tax

(As Published in Times of India on April 27, 2015) Imprisonment and fines await those who wrongly file the two forms to avoid tax on interest income. Getting a tax refund can be cumbersome as delays by the Income Tax Department are common. It makes sense to plan your taxes at the beginning of the year, to avoid overpayment and the refund process. Submitting investment … [Read more...] about Don’t Misuse Forms 15G, 15H to Avoid TDS

Benefit of including Group Term Cover (GTC)  in CTC. Both the employer as well as the employee can save money by rejigging the salary and including the GTC i.e. Group Term Cover. Every employer wants to retain good employees to save money, time and effort but also to keep costs under control. Similarly, every employee wants a higher take-home pay and lower tax outgo. Evidently, … [Read more...] about CTC – CHANGE with TAX CHANGES: GTC