Category: Income Tax

TDS on Property purchased on Loan – EMI Payments

With effect from 1st June 2013, TDS is required to be deducted @ 1% on all payments made for purchase of property. This TDS is required to be deducted on purchase of all properties which are more than Rs. 50...

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Capital Gains Tax on sale of Bonus, Right & Split Shares

At the time of sale of shares, Capital Gains Tax is levied depending on the nature of the capital gains. If the Capital Gains are Long Term in Nature, tax on such gains would be levied @ 10% from Financial...

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5 ways to save Money while renewing Car Insurance

Car Insurance Policies are usually issued for a period of one year, after which they are to be renewed to continue the policy for another year. As car insurance is mandatory by law, it is essential for every car owner...

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10% Long Term Capital Gains Tax on Sale of Shares & MF: Budget 2018

Budget 2018 Update: 10% Long Term Capital Gains Tax on sale of Shares and Mutual Funds held for more than 1 year.  ———————————- Capital Gains Tax on sale of shares/mutual funds is levied based on the nature of the Capital...

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Tax Benefits of Personal Loan allowed in 3 Cases

Personal Loan is one of the easiest loan to avail and can be used for any purpose. For availing a personal loan, banks ask only for very few limited details and very easily give this type of loan. Although this...

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ITR Form: Which Income Tax Form should you submit in 2016?

ITR Form have been released by the Income Tax Department for Financial Year 2015-16 i.e. Assessment Year 2016-17. There are different ITR Forms (Income Tax Forms) for Different categories of taxpayers and the same has been explained below. Each type...

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How to e-file ITR 6 in 2016? Download Excel & Java Utility

Different Income Tax Forms are applicable for different types of taxpayers and the companies registered in India are required to file their Income Tax Return in ITR Form 6. All companies are required to file their Income Tax Returns in...

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11 Most Popular Investments options under Section 80C

Section 80C is the most widely used section for claiming Income Tax Deductions. This Section which allows a deduction of Rs. 1,50,000 can not only be used by Salaried Individuals but can be used by all categories of Taxpayers irrespective...

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Download Form 12BB to claim 80C, HRA, LTA & other Deductions

Several Income Tax Deductions are allowed to Salaried Employees for certain types of Investments and Expenses. The employee is required to furnish details and evidence of such investments and expenses to his employer to claim such income tax deductions. Till...

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1% Tax on Cars to be Collected at Source from 1st June

From 1st June 2016, you would be required to pay 1% extra tax to the person from whom the car is being purchased. This tax would be applicable on all cars which are sold for more than 10 Lakhs. This...

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