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Indian Stock Market News and Views.

Impact of Direct Tax Code on Salaried Individuals

| Filed under Economy

So, it is finally here! After months of deliberations and tweaks, the much-awaited Direct Taxes Code (DTC) will replace the age-old Income Tax Act from April 1, 2012. So how will the new DTC impact you and me and the millions of salaried individuals in this country? Let us see!

salary survey 199x300 Impact of Direct Tax Code on Salaried Individuals

Personal taxation slabs: A disappointment!

While there was widespread cheer about the proposed personal taxation slabs in the original form of the DTC when it was proposed last year, the current DTC act wears an insipid look. It has nothing major to offer on personal taxation slabs except that men, women and Hindu Undivided Family (HUF) will now face Rs. 2 lakhs of tax free exemption.

This is how the new tax slabs in DTC will look. There will be no tax up to Rs 2 lakh. There will be 10% tax on income between Rs 2,00,001 and Rs 5 lakh; 20% tax on income between Rs 5,00,001 and Rs 10 lakh; and finally 30% tax for income above Rs 10 lakh.

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Tax Saving Tools

| Filed under News and Views

Do you think tax is a burden? Most of the tax payers believe so. If you are a wealthier man, you have to submit a huge amount as tax for the government. To down your tax payment it is necessary to establish a well tax planning criteria which limits the tax pay. For good tax saving, knowledge about the available deductions and exemptions granted by the income tax act is an essential element. So try to gain all the details about those allowed deductions to feel a fare tax system.

save tax1 Tax Saving Tools

Tax deductions allowed by the IT act will help you to reduce the tax incurred on you. Allowances, educational expenses, home & vehicle repair expenses, medical expenses, Insurance premiums, telephone re imbursement, home loan payments etc are eligible deductions one can possess. The tax exemptions are also come under the tax saving options. So also concentrate on the exemptions you have. Some mode of investments also eligible for deductions. Some of the are investments on stock, bond, real estate, post office schemes, fixed deposit schemes of certain financial institutions, fixed income security schemes like provident fund scheme etc are also come under deduction category.

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Plan Your Child’s Future

| Filed under News and Views

parents walking child Plan Your Childs Future

A child as a new member is always an occasion for joy in the family. The parents has made another important milestone in their life. The dream of any parent would be to give best for their children and they also think that what the parents was not able to get in their childhood it should be given for their child. Many parents now start investing for the future of their child at early stages itself. Investing in your child’s future is what many parents does as soon as they are born which would help the parents to build a pillar of strength as the child grows.

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What is section 80C ? Saving Tax with 80C

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tax What is section 80C ? Saving Tax with 80C

 

 

 

 

When its March and you go on a ride for getting the most benefits of tax deductions. If you plan well then you can surely save some good amount of money with your tax plans. One of the most common option that we Indians use for Tax deduction instruments is Section 80C of the Income Tax Act. Some of you might have heard about it and others would certainly know what they are too. (One of the most popular contributions/investments are the EPF (Employee Provident Fund) and PPF (Public Provident Fund). There are some other investments options too which work under this. 

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How to plan your tax and where to invest wisely

| Filed under Economy

 

photocms How to plan your tax and where to invest wisely

 

 

 

 

 

 

 

 

It is the time to make plans for your tax savings. This year the equity market is in better shape than last year so the returns from equity linked savings scheme(ELSS) will be better than last year. If you are not a kind of person who is not exposed to so much of risk do not worry there are other options too. If you are serious with your tax saving plans then we can discuss some of the ways to save it.

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