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Indian Stock Market News and Views.

National Savings Certificate

| Filed under Economy

National Savings Certificate

National savings certificate is a special scheme designed to target the Government employees, Businessmen and other employees drawing a fixed monthly salary. National savings certificate can be bought by any individual or by two or more people jointly, or even by an adult of behalf of a minor.  National savings certificate can be bought from authorized post offices or the Head post offices by applying for the same in a form prescribed for the purpose. This application can be submitted either in person or through an authorized agent. There is no maximum limited set for the purchase of National savings certificate.

National Savings Certificate 300x155 National Savings Certificate

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New Rules In Income Tax (TDS)

| Filed under Economy

CBDT brings in new changes in TDS rules

The Central Board of Direct Taxes (CBDT) has revised the Income Tax Rules, 1962 by bringing in new changes to the provisions regarding Tax Deduction at Source (TDS) that are filed on or after April 1, 2010.

Tax Deducted @ Source2 300x300 New Rules In Income Tax (TDS)

New rules for TDS deposits

Every month the employers deduct tax on the salaries and other payments distributed to the employees. According to the new rules, the employers should deposit the tax deduction for a month within 7 days from the end of that month. However, the tax deducted for the month of March, which is the end of the financial year, can be deposited on or before April 30 of the year.

For annual TDS certificate

The new CBDT rules also make it mandatory for the employers to issue the Form 16 or the annual TDS certificate to their salaried employees by May 31 soon after the end of the financial year. Previously the deadline was April 30.

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Tax Breaks How to avail them

| Filed under Economy

Tax related rules should evolve with time. There is no pre defined principles related to the tax rules. As we are going to the end of the current financial year it is necessary to set the formalities for tax saving. Tax break simply means tax saving. ie; anything that reduces the total cost of tax payment. It includes

tax 239x300 Tax Breaks How to avail them

Tax deduction

Tax exemption

Tax credit

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What is section 80C ? Saving Tax with 80C

| Filed under News and Views

 

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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