Articles
Reminder: File your income tax return (ITR) on time with an exclusive discount
With the coupon code RVTAX, get a 15% discount on online income tax return preparation and filing service from eLagaan.comEarning from Blogging and Income Tax (IT) – Part time blogging, Google AdSense, PayPal and more
Many bloggers have questions about income tax on the income they generate from their blogs – whether its full time or part time. The confusion is compounded due to foreign sources of income like Google AdSense and PayPal. Here are some common queries and their answers.eLagaan's income tax return preparation and related services – Exclusive discount for you
eLagaan is offering an exclusive discount for the readers of RaagVamdatt.com for its various income tax related services. Read on for more details.Review of online income tax return (ITR) preparation service TaxYogi
TaxYogi is an online income tax return preparation service from InvestmentYogi.com. Here's a review of the service.Revised draft of Direct Tax Code (DTC) released – The changes and how they impact you
The revised draft of the Direct Tax Code (DTC) has been unveiled. Let’s see what the changes are, and let’s understand what it means for you – what is good and not so good in this new DTC.Review of online income tax return preparation service TaxMunshi from Paisaa.in
Paisaa.in provides an online income tax return preparation service, called TaxMunshi. Here's a review of the service.Income Tax (IT) treatment of gratuity proceeds and calculation of exemption
How much income tax you pay on the amount you receiv as gratuity depends on the type your employer and your coverage under the Payment of Gratuity Act. This article explains the taxation provisions in detail.Section 80CCF - Save Income Tax (IT) through investment in infrastructure bonds
Budget 2010 has introduced one more avenue for you to save tax – Infrastructure Bonds. This article explains the detailed provisions for this.Budget 2010-2011: More money for you due to Income Tax slab / bracket changes
This article tells you how much extra money you would get in your pocket because of the changes made in the personal income tax slabs in the Budget 2010-2011.Highlights of the draft “New Direct Tax Code”
The draft “New Direct Tax Code” has been unveiled. And there are lots of proposals that should make you happy if implemented. Here are the salient features of the draft New Direct Tax Code.Tax on gifts (Gift tax): When to pay, how much to pay and what is exempt
Gift tax is something that worries many of us. What is gift tax? When do we need to pay it? How much is the tax? Are any gifts exempt? Let’s find out.Income Tax (IT) and death of a person – Responsibilities of legal heirs
Most people are confused about the procedures regarding income tax that need to be followed after the death of a person. Do you still need to file an income tax return? Do you close the file permanently at the IT department? Are gratuity and pension taxable? Read on for all the answers. [Article inspired by a query from reader Anand]Budget 2009-2010: Personal income tax (IT) related changes and impact on you
The budget for year 2009-10 has some minor tinkering as far as income tax goes. Here are the details.Taxation Regimes - EEE EET ETE TEE – What do these mean?
There are different systems for tax exemption / deduction of investments, and for taxation of the income earned from it, like Exempt – Exempt - Exempt (EEE) or Exempt – Exempt -Taxed (EET). What do these terms mean? What impact does it have on you? Read on.Understanding the components of your salary and their taxation
Your salary consists of many components. This article explains what each component means. It also discusses the income tax applicability of each component.[The article has been inspired by a query from reader Dinesh Kumar]
Saving tax on leave encashment amount – Section 89(1)
When you get leave salary (that is, when you encash your leaves) – either while in service or when you resign or retire, the amount is taxable in many cases.Is there a way to save the income tax on this? Yes! Read on.
Leave encashment / leave salary - Is it taxable?
From time to time, you may encash your leaves – when they are due to expire at the end of the year, when you resign and leave a company, or when you retire.Do you have to pay tax on the amount received from leave encashment? Is there any tax deducted at source (TDS)? Does the tax change if you are a government servant or working with a private firm?
Let’s understand what the income tax rules for leave encashment are.
Perquisite (perk) value of a company provided house
Many companies provide accommodation to their employees, which is either rent free or has subsidized rent.Such accommodation is considered a perquisite (commonly known as perk), and is taxed in the hands of the employee.
So, what is the value of this perk? What is the income tax on it? How is the tax calculated? Read on…
[This article has been inspired by queries from readers Ravi and Partha]
How much should you invest to save income tax?
We all want to save income tax. After all, it is our hard earned money! If we can save income tax legitimately, why not?But how much do you need to invest to save maximum income tax? Here is a guide that helps you find out.
[This article has been inspired by a query from readers Kamlesh, Ravikiran and Ashish]
Calculating your income tax liability – first step to saving tax
Are you totally new to the world of income tax? Don’t know how to calculate your income tax liability, and getting confused? Ever wondered “how much income tax do I need to pay”?Here is a step by step guide that teaches you how to calculate your income tax – while also explaining the concept of income tax slabs / brackets. There is also an illustrative example!
Reached Section 80C limit? You can still save more income tax!
Most of us try to maximize our investments in section 80C instruments in order to maximize our tax savings. But the limit of investment under section 80C is only Rs. 1 Lakh.Here are some other ways to save income tax.
Deduction of expenses on medical treatment – Section 80DDB
Did you know that amount spent on the treatment of certain diseases is deductible from your income, thus reducing your income tax? Read on, and also download the necessary form.[Inspired by queries from readers Ritesh, Srinivas]
Are you disabled? Save income tax under section 80U
Do you have a disability? Are you handicapped in any way? If yes, you can have some benefit in income tax under sec 80U.Deduction for rent paid – Section 80GG
Do you pay rent but don’t get a house rent allowance (HRA)? Don’t think you can not get any income tax benefit. You can qualify to save tax under section 80GG of the Income Tax (IT) Act if you satisfy certain conditions. Read on.Fixed Deposits (FD) for saving income tax through section 80C
FDs are now included as eligible investments under section 80C. But is investment in all FDs eligible? What are the characteristics of these tax saving fixed deposits?[This article as been inspired by a query from the user Dheeraj Rokade]
Page 1 / 2 (1 - 25 of 45 Total)
(Follow Me)
Latest Comments