Section 80CCD Deduction of NPS Contribution – Complete Detail

The Income Tax Department of India offers deduction to tax payers for making contributions towards National Pension Scheme (NPS). The deduction is availed under Section 80CCD and is available only to individuals. Entities such as a HUF cannot avail deduction under this section. Whereas, the individual tax payer may or may not be a resident … Read more

TDS Rates Chart [F.Y.2018-19 A.Y.2019-20]

Download TDS Rates Chart (F.Y.2018-19 A.Y.2019-20) You can download TDS rates chart in excel and pdf format for Resident or Non-Resident payee. You can also check TDS rates without downloading these file from the tables given below. Download TDS Rates Chart (Resident Payee) PDF Format Download Download TDS Rates Chart (Resident Payee) Excel Format Download … Read more

Income Tax Slab A.Y.2018-19

The page is exclusively for income tax slab for A.Y. 2018-19. You can also download income tax slabs in PDF format. Download here income tax slabs in PDF format Income Tax Slab A.Y. 2018-19 1) Income Tax Slab (Up to 60 Years Age) Income Tax Slab for Individuals, HUF, AOP/BOI & artificial juridical person up … Read more

Health & Education Cess for [AY 2019-20/FY 2018-19]

Education Cess is an essential part of our taxation system. The Government of India has levied education cess with a view to foster the child education in India. No matter what product or service we buy or avail, there is a small amount that we pay to Government in form of education cess. Before we … Read more

LIC Tax Deductions & Benefits

The first thing comes in our mind is LIC (Life Insurance Premium)or LIP whenever we talk about deduction under section 80C. But you all know it is only one of the part or deduction along with other deductions comes under section 80C. Life Insurance Premium paid on the life insurance policies issued by LIC or … Read more

Tax Saving Schemes for F.Y.2018-19 or A.Y.2019-20

Tax Savings is an effective measure to ensure that people save some of their tax liability in a legal way. There are many investment options which provide deductions to the assessee and some of them are listed below. The tax saving schemes are the one of the part of tax planning. Tax planning is legal … Read more

Taxation of Retiring Person with Tax planning

As you start to reach your retirement days, various questions in respect of taxation start to haunt you. Most of the people retire at the age of 60 which not only makes them old enough to work, but also makes them a senior citizen of the nation. This is where your tax planning becomes crucial. … Read more

Tax Planning for Senior Citizens F.Y.2018-19

Tax Planning for  Senior Citizens F.Y.2018-19: The category of senior citizens has been under the purview of income tax from a very long time. However, there has been certain relief that has been provided to them when it comes to imposing taxes on their income. A person is regarded as a senior citizen if the … Read more

Tax Planning for Female Assessee F.Y.2018-19

The Indian Taxation Structure is designed in such a manner that it promotes protection of the minor groups along with maintaining equilibrium in operations. The tax payer is mainly allocated into three major forms which involve Men, Women and Senior Citizens and Very Senior Citizens. Today, we shall take an insight into the taxation structure … Read more

9 Simple Tax Planning Tips for F.Y.2018-19

Tax planning has always been the test of efficiency for people along with being a test of their cunningness such that they can save their taxes in a lawful manner. Here are some of the tips that can help you to plan your taxes for F.Y.2018-19. 1) Invest in policies Policies are a prominent way … Read more

Got a preventive health check-up? Don’t forget to claim tax deduction

Health is one of the most overlooked areas by Indians. People are ready to invest in properties, cars and entertainment, but not on health. Nonetheless, the Department of Income Tax has reserved a small provision for deduction under preventive health check-up. Any tax payer can claim a deduction upto ₹5,000 per assessment year on account … Read more

CBDT Releases ITR Forms (Excel & Java Utilities) for A.Y.2018-19

Central Board of Direct Taxes has released the new Income Tax Return (ITR) forms for A.Y. 2018-19. The notification no.16/2018/F.No.370142/1/2018-TPL has been published in this regard on 3rd April,2018. There are some ITR Form of which excel utility has not yet released. We will update you whenever Income Tax Department has released ITR forms excel … Read more

ITR-5 Form 2018-19: How to Fill and E-File ITR 5

Here you can find the complete detail about ITR-5 for A.Y. 2018-19. You can check here the simple guide about ITR-5 like who can file ITR-5, changes (A.Y.2018-19), download link and more. Confused! Which ITR form to file? Check here Who can use ITR-5 Form? ITR-5 can be filed by the follower persons. Firm LLPs … Read more

7 Situations When You Could Lose Tax Benefits on Your Health Insurance 80D

The Income Tax Department of India has maintained a provision of deduction for taxpayers who invest in health insurance policies.  As per the current scenario, the IT Department allows a deduction of ₹25, 000 for common citizens and ₹30, 000 for senior citizens in every assessment year. However, there are certain prescribed guidelines that tax … Read more

List of Income Tax Deductions Under Chapter VI-A

Here is the table of deduction in respect of payment under Chapter VI-A. Download Income Tax Deduction Under Chapter VI-A Download List of Deduction (PDF Format) Download Here Excel Format Download Here *The aggregate amount of deduction under section 80C, 80CCC and 80CCD (1) cannot exceed Rs. 1,50,000. There is additional deduction Rs.50000 u/s 80CCD … Read more

Gold and Silver Rates from 1981 to 2018

Gold and Silver Rates Chart up to Year 2017-18 Gold Rate = Std Gold Rate 24 Carat for 10 grams i.e. 0.857 tola Silver Rate = 999 touch for 1 Kg. i.e. 85.734 tola Download Gold and Silver Rates Chart Gold and Silver Rates PDF Format Download Here Gold and Silver Rates Excel Format Download … Read more

Capital Gains Tax Rates [A.Y.2018-19 & A.Y.2017-18]

Capital Gains Tax is defined under income tax act as profit or gains arising from the transfer of capital assets effected during the previous year is chargeable to income-tax under the head ‘Capital Gains’. So you have to pay income tax on any capital gains during previous year. But income tax will not be charged … Read more

NSC Interest Rate, Application, Tax Benefits & More

National Saving Certificate is an investment option by which an individual can invest his income to get a fixed interest. The interest rate is 8.1% per annum. You can reinvest the interested earned and get benefit of 80C deduction under income tax. National Saving Certificate have two options 5 years maturity period and 10 years … Read more

Getting Notice from IT Department? Don’t Panic! Check What to Do?

Income tax is a crucial area for every tax payer. Each year millions of people in India file returns and pay a portion of their income to the Income Tax Department whereby the Government is able to generate revenue for its development programs. Though most of the people in India consider income tax as a … Read more