Even vacant Second house has tax implications

Tax Implications on Vacant or Second House Property

Second House or Vacant House also comes under Income Tax as well as Wealth Tax Purview. Indian People tends to invest mostly in two assets, first is gold and second in house property. The rising prices of gold as well as property makes it more lucrative but one must consider the tax implications before buying...
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Taxation of Mutual Funds in India

Tax Treatment of Equity & Debt Mutual Funds in India

Mutual Funds Taxation in India Income from Mutual Funds can be segregated into two parts Dividends (return on investment) and Capital Gain (increase in value of investment). Accordingly taxation on Mutual funds can also be divided into two categories: Tax on Income / dividend distribution by a scheme Tax...
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Employee Provident Fund

Top Employee Provident Fund Questions Answered

Are you in Job!! If yes, than you must have heard or even holding an account of Employee Provident Fund (EPF). The EPF is maintained solely by the Employees’ Provident Fund Organization of India (EPFO). As per the act, any company employing more than 20 persons has to register with the EPFO. Recommended...
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fixed deposit benefits

Few Fixed Deposit Features you might not know

Benefits of Fixed Deposit you perhaps didn’t know With the increased limit of Tax-Saving Fixed Deposit up to Rs.1.5 lakhs, everyone is rushing to get more benefit. But there are few extra which you might want to know before making a fixed deposit. Fixed Deposit at Floating Rate Generally deposits...
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No Charges on Non-Maintenance of Minimum balance in saving account

No Penalty for Non-Maintaining Savings Account Minimum Balance without Informing Customer

Inform customers about fall in minimum balance in Savings Account : RBI to banks In a big relief to the savings bank account holders, Reserve Bank of India has directed all banks not to penalize customers who failed to meet the minimum balance criteria without informing them. As per the guidelines, Banks...
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Best Tax-Saving Instrument

Best Tax-Saving Scheme: PPF vs. Bank FD vs. KVP vs. NSC

Best Tax-Saving Scheme u/s 80C The first step towards Tax Planning is to look out for tax-saving instruments which are eligible for deduction under section 80C. The deductible investment list is exclusive with a threshold limit of Rs.1,50,000. This restriction makes it utmost necessary to opt the best...
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Kisan Vikas Patra 2014

Kisan Vikas Patra Relaunched: Double Money in 100 Months

Kisan Vikas Patra 2014: Double Money in 8 years and 4 months Once popular, saving instrument Kisan Vikas Patra has been launched by the Government yesterday, promising to double money in 100 months i.e maturity of the certificate will be 8 years and 4 months. Recommended Read: Kisan Vikas Patra 2014...
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