National Savings Certificate (NSC), Public Provident Fund (PPF) and Kisan Vikas Patra(KVP) are the most popular fixed income earning instruments which can be opened with a Post Office and also help in saving tax under Section 80C. In this article, we...
Section 80E: Income Tax Deduction for Education Loan Read More
As per the Income Tax Act, a taxpayer is allowed to claim deduction under Chapter VI-A for the Repayment of Education Loan (Section 80E) and for the Repayment of Home Loan. However, the deduction allowed for both these loans is...
What is Professional Tax and Professional Tax Slab Rate in India? Read More
Professional Tax is a Tax which is levied by the State on the Income earned by way of profession, trade, calling or employment. This form of tax was first levied in India in the year 1949 and the power to...
Internship Vacancy in Ministry of Finance Read More
Duration: 2 Months at Different points of time during 2013 Stipend: Rs. 10,000 pm Interested Candidates shall send their applications to: Director (Admin), Department of Expenditure, Room No. 76, North Block, New Delhi Last Date of Application: 15th March for...
Budget 2013: Tax Impact of Budget on Common Man in India Read More
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:- 1. TDS of 1% on Property With an aim to...
Service Tax on Foreign Exchange Remittance Read More
As per law, Service Tax is levied on any service provided or to be provided for a consideration. As Banks & Foreign Exchange Dealers are also providing a service of conversion of one currency into another and charging a commission...
Income Tax Refund Status: Beware of Fraud Emails Read More
If you’ve claimed Income Tax Refund in your Income Tax Return, chances are that you would be eagerly waiting for the Income Tax Department to process your Return and pay you the Tax Refund as computed as per the Income...
Service Tax on Under Construction Property @3.75% Read More
Service Tax on under Construction Property is levied on the Services provided by Builders or Real Estate Developers or any other person, where Building Complexes, Civil Structure or part thereof are offered for sale but the Payment is received before...
Service Tax on Food in Restaurant @ 6% from 1st June 2015 Read More
Every time you go and dine out in a restaurant, the food bill turns out to be more than expected. And then when you go through the Bill in detail to cross check the charges levied, you realise that there...
Deduction under Section 80TTA :Tax on Interest on Savings Account Read More
We all have a tendency of checking the amount of Interest on Savings Account earned during the year, but do we know the manner in which this Interest is computed and the Tax on Interest on Savings Account that would...