HIGHLIGHTS OF THE BUDGET 2013 The long-awaited Budget for the new financial year 2013-14 was announced by the Finance Minister P. Chidambaram. The budget comes up with some major and minor amendments in the financial plan, the common man needs [Read More]
EPF interest rate increased to 8.5% for the year 2012-13 EPF has come up with a mount in interest rate, taking it to 8.5% for the year 2012-13. The interest rate for the new fiscal year is 8.5% , as [Read More]
Section 80CCD – Employer contribution no limit (NPS) The Income Tax Act has yet another deduction that you can claim and save more of your income from tax deduction. Section 80CCD offers that by contributing a part of your income [Read More]
Benefit of Joint Home Loan and its Tax benefit Buying a house has always been a bit of financial trouble for many. So, banks come to rescue and aid people with a home loan by facilitating the funding. Two earning [Read More]
XBRL Filing due date Extended upto 28thFebruary 2013 Filing of Balance Sheet and Profit and Loss Account in Extensible Business Reporting Language (XBRL) mode for the Financial Year Commencing on or after 1-4-2011 GENERAL CIRCULAR NO. 5/2013 [NO. 17/161/2012-CL-V], DATED [Read More]
INTEREST ON HOME LOAN AND IT’S TAX BENEFITS Home loan is the amount that the individuals seek from the bank to purchase a residential property. The bank usually disburses the amount through a cheque to the person who seeks the [Read More]
TRACES- The new online platform for TDS by Income Tax Department The Income Tax Department has come up to launch a new website for TDS (Tax Deduction at Source). The web address of this new online format is https://www.tdscpc.gov.in TRACES is [Read More]
Tax Saving Tips – Investments and Deductions Under Section 80C Your hard earned income is subject to taxation under the Income Tax Act. You can save a part of your income as a tax deduction; thus reducing your total taxable [Read More]
One Person Company – The ‘One’ way to form a Company The word company literally implies the idea of an association of more than one. In the corporate sector a company is run by a group of people or an [Read More]
TDS exempted on Certain Payments TDS refers to the tax deduction at source; it is the tax deducted by the employer, from the salary at a fixed rate when the salary is credited. The central board of direct taxes (CBDT) [Read More]