View quick summary Any plan for retirement must feature regular return on your investments and health coverage in case of emergencies. Most people end up investing in low return assets with deposits @3.5% to 8% only. This doesn’t suffice to cover the loss of value due to rising inflation over the years. One of the ways to ensure a tax free retirement life is buying a … [Read more...] about Buy a House to Plan for Retirement
Tax Refunds
Earning More than 5 Lakhs? E-filing is compulsory
Out of the 4 crore income tax returns (ITRs) filed during the financial year 2011-12, 1.64 crore and 2.15 crore in 2012-13 were filed online. Majority of these were voluntary e-filers. This acceptance of the facility has made the government confident to make it mandatory for people with more than Rs. 5 lakh of total income (includes income from salary, professional, rental, … [Read more...] about Earning More than 5 Lakhs? E-filing is compulsory
The Need for Financial Planning
View quick summary Are you in control of your money or is money controlling you? If you want to control your money you will require good financial planning. Financial planning is nothing but controlling your finances. Instead of working all life to grow your corpus, seeking good financial planning can enable your money to grow and work for you. It can make your cash flow more … [Read more...] about The Need for Financial Planning
Know what the income-tax department knows about you
In the recent months, the Income Tax Department has been publishing ads in all major newspapers, warning the taxpayers who do not declare their full income in their income tax returns. A huge amount of data is collected from various entities, and the data is collated against each taxpayer in the servers of the income tax department. There is a central processing cell in … [Read more...] about Know what the income-tax department knows about you
Budget 2013: What’s in store for you?
The Budget 2013 was announced today. Here, we talk about a few changes proposed by the Finance Minister, which will impact personal taxation directly. These proposals will become a part of the income tax law only when the parliament passes them. No Revision in Tax Slabs or Tax Rates: Per our Finance Minister, "In a constrained economy, there is little room to raise tax rates or … [Read more...] about Budget 2013: What’s in store for you?
