Mutal Fund Changes made in Finance Bill 2014 by Lok Sabha

Retrospective Taxation on Debt Mutual Fund Rolled Back

Finance Bill 2014 Passed by Lok Sabha with a Major Change In the form of additional deduction u/s 80C and home loan interest u/s 24(b), Finance Bill, 2014 gave a reason to smile to the taxpayers. But one adverse change had taken it all away that is change in the pattern of taxation of Debt Mutual Fund....
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tds on recurring deposit in india

Income Tax on Recurring Deposit in India

Are Recurring Deposits tax free in India? To clear this confusion, below I have penned down all the must know information about Recurring Deposit. What is Recurring Deposit? Recurring Deposit is a SIP under which you have to pay certain agreed amount for a particular time period. Unlike fixed deposit...
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Reasons not to buy Kisan Vikas Patra

Why you should stay away from Kisan Vikas Patra?

Reasons not to buy Kisan Vikas Patra Budget 2014 has re-introduced Kisan Vikas Patra Scheme (no, it was not only for Kisan, a normal Indian Resident who has attained the age of 18 could invest in Kisan Vikas Patra), which was discontinued in 2011. Earlier this scheme was big hit due to two reasons;...
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Changes in Income Tax Return

Important Changes in Income Tax Return (ITR) forms

Key Changes in Income Tax Return Forms you must know about Tax filing deadline is just a week ahead; all of you must have gone through the cumbersome task of gathering all the data to fill and file the Income Tax Return form. But before moving ahead with filing, go through with the last minute checklist...
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Service tax interest rate on late payment hiked

Interest on Late Payment of Service Tax Increased

Revised Rate of Interest on Delayed payment of Service Tax Central Government vide notification No 12/2014-ST dated 11.7.2014 has increased the rate of interest chargeable on the late payment of service tax dues w.e.f. 1st October, 2014. Earlier the rate of interest on the delayed payment of service...
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Which ITR to file

Which Income Tax Form to use for ITR filing?

Which ITR to File for Assessment Year 2014-15? Time has come to file your income tax return but which ITR form to use is still a big confusion for many taxpayers especially for the first timers. Every year Income Tax Department releases ITR forms which are to be used in filing tax. There are various...
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TDS Rate Chart

TDS Rate Chart for FY 2014-15 (AY 2015-16)

Frequently Used TDS Rates & Related Provisions Financial Year 2014-2015 (AY 2015-2016) A new section 194DA has been introduced in Budget 2014 under which sum received from insurance company will be liable to TDS at 2%. Read more: Tax on Insurance Maturity Policy I have not added section 194DA in...
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