Tax Refunds

Save Tax by Investing Long Term Capital Gain in House Property

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View quick summary There are many ways to gain income tax exemption. One way is to invest long-term capital gains from sale of property in another house. NO income tax will be charged if you sell a residential property and invest the net capital gains (difference in the selling price and the indexed cost of the property) in the purchase or construction of another residential … [Read more...] about Save Tax by Investing Long Term Capital Gain in House Property

What is Tax Ratio?

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View quick summary TaxSpanner’s vision is to empower every individual to gain the advantage of being actively involved in his/her financial life. An individual’s tax return mirrors one’s financial affairs. The understanding of your financial lifestyle starts with your tax return. We believe that if one is able to understand and prepare one's tax return independently, half of … [Read more...] about What is Tax Ratio?

Calculating Tax Ratio

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View quick summary How much tax can you save? That depends on what your salary is and how smartly you manage it. These are the two elements which determine your tax outgo. So how do you know if you’re paying more taxes? It’s simple; just calculate your tax ratio. Tax ratio = Tax paid / Gross salary The catch here is that the Tax Ratio may sometimes differ for people in the same … [Read more...] about Calculating Tax Ratio

Are You Paying More Tax Than Your Peers?

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View quick summary According to a study conducted by TaxSpanner, the table below shows minimum tax ratios across age and income groups. Note: The percentage figures in the table above represent the average of tax ratios of ITR filers falling in the minimum 10% of each category. Are you paying more tax than your peers? See the top 5 reasons why you may be doing so. … [Read more...] about Are You Paying More Tax Than Your Peers?