Ten most important changes in Income tax which will apply from 1st April 2017 With the passage of the Finance Bill on Wednesday, the Lok Sabha has completed the budgetary exercise for 2017-18. The Income tax proposals in the Budget 2017 have now become law.
Category Archives: Income Tax
Income Tax is the tax which directly levy on income of any personal.Central Board of Direct tax manage all the things related Direct Tax.
Waiting for last minute investments to save tax ? Worst financial mistakes done as investors rush to make tax saving investments. ELSS funds are top of the ranking of best tax saving options earlier this year. However, though financial planners recommend systematic investing, less than 20% of the total inflows into ELSS funds come through […]
Save tax under section 80C using ELSS fund As You aware that this is the last month of the financial year sees investors rushing to save tax by investing in tax saving instruments. You can save tax by investing upto Rs 1.5 lakh in equity linked savings scheme (ELSS) under section 80C of the Income […]
All about House Rent Allowance to save tax House Rent Allowance (HRA) is a common component of their salary structure. Although it is a part of the salary, HRA, unlike basic salary, is not entirely taxable. Subject to certain conditions, a part of HRA gets exempted under Section 10 (13A) of the Incometax Act.
Is your single premium life insurance policy eligible for tax benefits? Life insurance doesn’t necessarily mean that you have to keep paying the premium every year. There are single premium life insurance (SPLI) policies as well, which provide similar tax benefits of protection and savings as the regular premium ones. The term of SPLI policies […]