In the Union Budget 2018-19, the Finance Minister has proposed to provide Rs 40000 Standard Deduction from salary income to all employees & pensioners. As per the Tax rules that are applicable for FY 2017-18 (AY 2018-19) ; A Salaried individual can claim annual Transport allowance (conveyance allowance) of up to Rs 19,200 (Rs 1,600 pm) […]
Tax Planning
How to calculate Holding Period & Capital Gains on sale of an Under-Construction property?
Buying a property (home/plot/flat) is one of the most important decisions that you will ever make. It involves a lot of money and is a serious money decision. It is an emotional one too! There can be instances where you had to sell a property due to various reasons. In case, you wish to sell an already constructed […]
Latest TDS Rates Chart for FY 2018-19 / AY 2019-20
We receive income through different ways, it can be your Salary, Dividend income from mutual funds or stocks, commission, rent, interest on your Bank Fixed Deposits / Securities etc., The providers of these incomes (like your company / bank) can deduct a certain percentage of income as TDS (Tax Deducted at source) based on certain […]
Income Tax Deductions List FY 2018-19 | List of important Income Tax Exemptions for AY 2019-20
Budget 2018-19 & the Finance Bill 2018 have been tabled in Parliament. The Income Tax Slab rates have been kept unchanged by the Finance Minister for the Financial Year 2018-19 (Assessment Year 2019-2020). Tax planning is an important part of a financial plan. Whether you are a salaried individual, a professional or a businessman, you can […]
Mutual Funds Capital Gains Taxation Rules FY 2018-19 (AY 2019-20) | Capital Gains Tax Rates Chart
Capital asset typically refers to anything that you own for personal or investment purposes. It includes all kinds of property; movable or immovable, tangible or intangible, fixed or circulating. Capital assets are further classified as Financial Assets and Non-Financial Assets. Financial assets are intangible and represent the monetary value of a physical item. Stocks (Shares) […]
Health Insurance Tax Benefits (under Section 80D) for FY 2018-19 / AY 2019-20
Health Insurance (or) Mediclaim insurance is a must-have for all. Considering the rate at which medical costs are rising, it is very important to have sufficient medical insurance coverage. The medical inflation in India is increasing at a significant rate almost 12-15 per cent every year. Therefore, it is critical to have an adequate health […]