How much should I borrow for a house? People have often asked us this question regarding the best home loan. Generally, you should not borrow above 50% of your take home salary. Other monthly payments such as insurance premium must be deducted while calculating repayment capacity. While taking the decision regarding your best home loan, you also need to consider the tax … [Read more...] about Getting The Best Home Loan
Tax Refunds
Tax Reforms Fail to Catch Up with Growth: Expert
During his visit to Delhi, Jeffrey Owens, director of the OECD (Organization for Economic Cooperation and Development) Centre for Tax Policy and Administration, said, "In India, tax reforms have lagged behind growth... Indian economy has transformed in the last two decades... But tax regulations have largely remained the same...” The economic growth in India has clearly … [Read more...] about Tax Reforms Fail to Catch Up with Growth: Expert
Tax To-Do list: Self assessment – a must do
Just like in real life, we observe and self assess ourselves to be the people we want to be, based on our previous actions and behavior, self assessment of tax is the same. Self assessment tax is the amount that taxpayers still owe to the government after paying TDS and advance tax. The Income Tax Department has been very strict about the submission of self assessment tax. … [Read more...] about Tax To-Do list: Self assessment – a must do
Tax To-Do list: Claim what is rightfully yours
Allowances are an essential component of your basic salary structure. These facilities offered by your employer are your right and claiming the same is highly recommended. HRA, LTA, conveyance allowance, reimbursements of medical bills are basic allowances that salaried individuals are entitled to. You should avail the same to reduce your taxable income. However, remember that … [Read more...] about Tax To-Do list: Claim what is rightfully yours
PAN is must to eFile Income Tax Return
Permanent Account Number (PAN) is a ten digit alphanumeric number. It is issued in the form of a laminated card (called PAN Card), by the Income Tax department. PAN Card: Key Points to Remember You must have a PAN to file your income tax return. You don’t need to necessarily file a return just because you have a PAN. You need to file income tax return only if your gross … [Read more...] about PAN is must to eFile Income Tax Return
