Tag Archives: Tax saving for Salaried

Save Capital gains tax on selling a shop

Save Capital gains tax on selling a shop I recently sold my shop and made capital gains of Rs 33 lakh. How can I save tax on these gains? You will need to pay tax on short-term capital gains at the applicable slab rate,unless you have any capital losses to adjust.If the shop was held […]

NPS contribution – Tax benefits

of NPS contribution – Tax benefits This let us discuss income tax benefits available for contributions made by you to your NPS account. Though you can open Tier I and Tier II account under the NPS,The tax benefits are available only in respect of contributions made to your Tier I account and the discussion which […]

Tax Benefits related to rent paid,PPF and National Pension System

Tax Benefits related to rent paid,PPF and National Pension System Tax benefits in respect of rent paid Section 10(13A) of the Income Tax Act provides for Tax Benefits to a salaried person in respect of rent paid for a rented accommodation occupied by him if he is in receipt of House Rent Allowance (HRA) called […]

How much You know about your mediclaim policy?

How much You know about your mediclaim policy? In India, almost all working people have mediclaim policy be it group mediclaim insurance or private mediclaim insurance. However, do all they know the basis of this mediclaim insurance policy? Read these answers to most frequently asked questions about mediclaim insurance and decide it for you!

Fake rent receipt won’t help you lower tax burden anymore

Fake rent receipt won’t help you lower tax burden anymore For as long as anyone can remember, producing of Fake rent receipt, often from parents and relatives, has been an easy way to lower tax burden. Such cavalier disregard for tax rule was overlooked by most employers as well as taxman, who possibly felt it […]

Considerable Points before making fresh investment under Section 80C

Considerable Points before making fresh investment under Section 80C The fag end of the financial year is when we scurry around and grapple with bewildering alphanumeric combinations like Section 80C and 80DD. If your tax­ saving efforts are last minute the chances of locking funds in an unsuitable investment are quite high.

All about Gratuity Valuation you need to know !

All about Gratuity Valuation you need to know ! Gratuity is one of the retirement benefit plan. It is received by an employee from his/her employer in gratitude for the continuous services offered by the employee in the company. It is one of the retirement benefits offered by the employer to the employee upon leaving […]