EPFO launches online PF transfer facility for PF trusts

Provident fund accounts with privately held PF trusts can now be transferred online to accounts maintained by the retirement fund body EPFO. At present, workers are required to file PF transfer claims on changing jobs to consolidate their PF accounts and benefits under the Employees’ Pension Scheme 1995 run by the Employees’ Provident Fund Organization (EPFO). According to a circular […]

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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 or investing in these assets. Gold does […]

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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 on Capital Gain/Loss from the redemption of MF units Capital Gain […]

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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 tax-saving scheme not only to save tax but also to increase your wealth […]

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