- 30 Jul 1409:27 AMWith July 31 just around the corner, everyone must be busy with their income tax returns. Filing returns has become convenient since it can now be done electronically.
- 28 Jul 1406:42 PMSoftware professional Anand Singh panicked when his chartered accountant called him informing him of an outstanding tax liability of Rs 2.15 lakh for 2013-14. Reason: Singh changed his job last year and both his employers gave him Section 80C benefits and12:50 AMWhile individual taxpayers cheered the Budget news of an increase in the limit under Section 80C, marketing professional Girish Kumar wasn't every very excited. Reason: He doesn't know how to use the new limit to his advantage.
- 21 Jul 1410:40 PMDespite the process of filing income tax returns going online, a lot of taxpayers continue to miss the July 31 deadline. And, this could hurt them.
- 20 Jul 1410:27 PMTwo years earlier, Delhi resident Anand Singh sold his one-BHK (bedroom-hall-kitchen) flat for Rs 70 lakh. He was looking for a two-BHK, as his parents had moved in, too. Unfortunately, he wasn't able to find one of his liking.
- 17 Jul 1405:07 AMThe direct tax announcements in Budget 2014-15 will ensure that in the next few months, individuals and their employers will remain busy recalculating their new income tax liability.
- 14 Jul 1412:10 AMA tax benefit of Rs 1,300-3,000 a month isn't huge, but the Budget proposals on individual taxation came as a huge relief as the benefit came after many years in the form of increase in the basic exemption limit to Rs 2.5 lakh (Rs 3 lakh for senior12:05 AMIf your policy is maturing after October 1, the insurer will deduct a tax at source (TDS) of two per cent from the proceeds of your life insurance policy for both unit-linked insurance plans and traditional plans.
- 12 Jul 1411:49 AMNational Pension System (NPS), for which the government has ambitious subscriber growth targets, will require further tax incentives and deeper penetration in smaller towns, say fund managers.
- 11 Jul 1412:48 AMThere is good news for consumers reeling under inflation. Finance Minister Arun Jaitley has put more money in their hands. The basic tax exemption limit for those below 60 years has increased by Rs 50,000 to Rs 2.5 lakh.
- 07 Jul 1404:54 PMIn his Budget speech of 1998 the then Finance Minister, Yashwant Sinha, had introduced a scheme called Kar Vivad Samadhan Scheme 1998 (or, Tax Litigation Solution Scheme).