PAN Card Number and Aadhaar Card Number are two numbers that each person residing in India is encouraged to register for and get. There are roughly around 29 crore PAN card holders and more than 111 crore people now have an Aadhaar number, covering more than 98 to 99% of the Indian adult population. We all know that the usage of PAN card is no […]
Tax Planning
AY 2018-19 Income Tax Return Filing | Which ITR Form should you file?
The Central Board of Direct Taxes has notified the new ITR Forms for AY 2018-19 Income Tax Return Filing (for FY 2017-18). In order to make ITR filing easy, some sections of the forms have been rationalized. The new ITR forms in PDF format have been made available, while the excel utilities (or) Java Utilities for […]
Rs 40,000 Standard Deduction from FY 2018-19 | Does it really benefit the Salaried?
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) […]
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 […]