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?
Tax Refunds
Calculating Tax Ratio
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?
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?
What is ULIP?
View quick summary Almost 70% of all insurance policies are bought in the last three months of a financial year. This indicates that many of these plans have been bought with the sole purpose of tax saving. Majority of buyers don’t care what they are buying as long as it helps them save tax. If you are such a tax payer, be careful when you buy a ULIP. Tax payers must understand … [Read more...] about What is ULIP?
Real Estate is the Best Investment
View quick summary Real estate is the best of all investments for all investors, at any age. Read on to see why: • Home is a basic need further sweetened by tax benefits and lower rate of interest. • Do not be influenced by any preconceived notions and be a proud owner as soon as possible. • Buy it with loan, its financial prudence. You don’t need to either put all your money … [Read more...] about Real Estate is the Best Investment