8 Legal Ways to Save Tax Effectively

Today everyone in the economy wants to save himself from paying taxes or to decrease their tax liabilities.  Now to save tax paying in Indian economy the Income Tax Act grants many deductions which a person can claim at the time when he/she is filing Income Tax Return. These deductions are for all type of … Read more

How to Avoid TDS on FD Interest by Form 15G & 15H

First of all you need to understand that tax has to be deducted at source by banks on your FD interest. The bank will deduct TDS on interest payment or credited on your fixed deposits. Now, the question is that is there any possibility to avoid TDS on your fixed deposits? The answer is yes, … Read more

12 Ways to Reduce Taxes on Salary

In India, everyone is in need to reduce the tax burden. Here the salaried people suffers more as the salary is received through bank so the ways of tax reduction gets decreased. In this article, we will have a look on some of the ways which could help the salaried people to reduce the tax … Read more

11 Ways to Select Best Health Insurance Policy in India

Today people are suffering from many health problems and many times these problems can take one to hospitalization. Due to the emergency problem the cost of medical care and treatment may gone very up drastically which can ruin you financially. Thus, one should choose best health insurance plan, which can result as Boon for you … Read more

5 Tax Saving Mistakes and its Solutions

Today earning money is the most important part of our life and it is also right to say that saving it is also as important as earning. The best way to save the money is to get the advantage of tax saving deductions means to minimize the tax outgo as much as it is possible. … Read more

Top 10 Tax Planning Tips for A.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 the A.Y. 2018-18 & A.Y. 2017-18. 1) Invest in policies Policies … Read more

Deduction on Home Loan Interest [Sec.80EE] (A.Y.2017-18)

The section (80EE) deals with offering additional deduction to the taxpayers by allowing them to make adjustments for interest of home loan or any other form of loan taken with an intent for owning residential house property. This section offers an opportunity for the Indian citizens to focus on house ownership and to boost industries … Read more

Deduction 80D: Complete Detail (Updated) A.Y.2017-18 & 2018-19

The person who paid medical insurance premium himself or spouse or parents or depended children can claim the deduction from total income of the person as per the instructions given below. We will discuss here the complete detail about deduction under section 80D for the A.Y. 2017-18 and A.Y. 2018-19. Who can claim deduction 80D? … Read more

Tax Planning for Women Assessee (A.Y.2017-18 or A.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

6 Simple Steps to Reduce Income Tax

After the Budget 2017, the income received by people is made transparent i.e. IT department is aware of the income received as all the transactions are to made through bank or digitally. Nobody wants to pay tax. After the budget 2017, the taxpayers are burdened for taxation. There are some ways through which you can … Read more

LIC Tax Deductions & Benefits [A.Y. 2018-19 & A.Y. 2017-18]

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

Deduction u/s 80C A.Y.2017-18 & A.Y.2018-19

We will cover here the complete detail about deduction under section 80C for A.Y.2018-19/A.Y.2017-18/A.Y.2016-17. We know that you are very much interested to know the deduction from gross total income to calculate net income tax. As we will discuss only here deduction under section 80C in detail. There are lots of deductions comes under Chapter VI-A … Read more

Tax Benefits on Stamp Duty & Registration Charges of a Property

Stamp Duty and Registration Charges are the expenses which have to be paid while buying a house and get it transferred in your name. It is the tax that is paid on the market value of the house. The Stamp duty and registration charge is mandatory and is levied by the Government of India. The … Read more

Creation of HUF & Its Tax Benefits

When we talk about tax planning, a new legal and effective way suggested by Tax Consultants is creation of HUF i.e. Hindu Undivided Family. In India many people have a joint family and also a joint income, so as it is a joint income it cannot be taxed in the hands of any specific individual. Therefore … Read more

Tax Planning for Senior Citizens (A.Y. 2016-17 and A.Y. 2015-16)

Tax Planning for  Senior Citizens A.Y. 2016-17 and A.Y. 2015-16: 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 … Read more

Tips and Tricks for Saving Income Tax via HUF

Whenever times come to pay your tax, the first and the foremost question which comes to the mind of individuals is that “How to save Income tax through HUF”? Everyone believes that they could save some amount by using HUF and avoiding paying some tax. The expectations of every individual are that they are going to … Read more

Check Tax Liability of Senior Citizens A.Y.2015-16 & 2016-17

The persons who find difficulty to calculate income tax for their parents or senior citizens themselves must read this article for everything you need to know about the taxation of senior citizens. You will find here the meaning, definition, tax liability, income tax rates, income tax slabs, tax planning, tax saving schemes and more. You … Read more

SBI PPF Interest Rate & Maturity Period

The State Bank of India offers the option to invest in PPF to existing users and new users of its bank. The channel is aimed to create a habit of savings among the people of India, along with creating a reliable pool of investment which can be used by the banks from time to time. … Read more