income tax slab rates

tax-home-loan

Tax Benefit on Home Loan: Section 24, 80EE & 80C

A very important criterion to be kept in mind while taking a Home Loan is the Tax Benefit on Home Loan. To explain the Tax Benefit on Home Loan, we… Read More

tax on sale of shares

Advance Tax Payment: Due Dates and Interest on Late Payment

If the Income Tax Liability of any taxpayer is more than Rs. 10,000 in a financial year, then he is liable to pay such tax in installments during the year… Read More

income-tax-slabs

Income Tax Slab Rate in India for FY 13-14 & 14-15

Income Tax Slab Rates for Financial Year 2014-15 have been amended by the Budget 2014. The basic exemption limit has been increased from Rs 2 Lakh to Rs. 2.5 Lakh and… Read More

Income-Tax-Return

ITR Form: Which Income Tax Form should you submit in 2014?

ITR Form have been released by the Income Tax Department for Financial Year 2013-14 i.e. Assessment Year 2014-15. There are different ITR Forms (Income Tax Forms) for Different categories of… Read More

tax-on-rent-nri

Surcharge on Income Tax on Income above Rs 1 Crore

The Finance Act 2013 introduced the levy of Surcharge on Income Tax @ 10% on all categories of taxpayers earning income above Rs 1 Crore. Earlier this was levied only… Read More

Section-43b-income-tax

Rounding off in Income Tax – Section 288A & 288B

For the purpose of simplicity and to facilitate easy payment of taxes, the income tax act suggests rounding off of income and the income tax payable thereon. The Rounding off… Read More

budget-tax

Budget 2013: Tax Impact of Budget on Common Man in India

The Indian Finance Minister P. Chidambaram presented the India Budget 2013 on 28th February 2013 and the following are the major tax changes that would impact the Indian Common Man:-… Read More

long-term-capital-gain

Computation of Short Term & Long Term Capital Gain Tax in India

At the time of Sale of any Asset, Tax is liable to be paid on the Gains earned on the sale of Asset. Such Gains could either be Short Term… Read More