Income Tax — Page 2

Tax Implications on Vacant or Second House Property

Sanyam Jain | Income from House Property/ Income Tax/ Wealth Tax | November 28, 2014 | 4 Comments

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 […]

Kisan Vikas Patra Relaunched: Double Money in 100 Months

Sanyam Jain | Income Tax/ News | November 19, 2014 | Leave a Comment

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 Rules Notified Taxation of […]

How to Transfer or Gift Shares in Demat Form?

Sanyam Jain | Capital Gain/ Income from Other Sources | November 17, 2014 | Leave a Comment

Transfer or Gift Shares in Demat Form Are you holding shares and would like to gift it to your spouse or children or any other person? Yes!! Then read the article below explaining the: Procedure for gift or transfer of shares in demat form. Taxation on the Gift of Share. Taxation on income from the […]

Now Tax Saving Bank Fixed Deposit upto Rs.1.5 lakhs u/s 80C

Sanyam Jain | Banking/ Deductions/ Income Tax | November 16, 2014 | Leave a Comment

Bank Fixed Deposit Deduction increased to Rs.1.5 under section 80c Bank Fixed Deposit is one of the most opted tax saving instrument under section 80C while tax planning. To make this more alluring Central Government of India has via notification no. 63/2014, Dated: November 13, 2014, increased the deductible amount of fixed deposit aka term […]

Employee Provident Fund New Rules

Sanyam Jain | News/ Provident Fund/ Salary | September 10, 2014 | 3 Comments

Employee Provident Fund New Rules Applicable from 1st Sept 2014 Employee Provident Fund Organization (EPFO) has amended the Employee Provident Fund (EPF) rules by inserting some major changes. These changes have been made applicable from 1st Sept 2014. 1. Employee Provident Fund contribution made mandatory for salary less than Rs.15,000 Earlier, salaried person whose monthly […]

Tax-Free Bonds Benefits

Sanyam Jain | Income Tax | September 2, 2014 | 3 Comments

After discontinuing tax-saving bonds last Budget, the finance ministry might now draw the curtains on tax-free bonds, designed to encourage long-term investments in the infrastructure sector. Tax-free bonds are those bonds issued for long term, for investment horizon of 10 to 15 years, in which interest earned is exempt from tax. Tax-free bonds do not […]

House Rent Allowance & Section 80GG

Sanyam Jain | Deductions/ Income Tax/ Salary | August 20, 2014 | 528 Comments

Tax Exemptions/Deductions for House Rent Allowance (HRA) and Section 80GG In case you are in receipt of House Rent Allowance (HRA) from your employer, you may avail exemption from the same while filing your ITR. In case you are not in receipt of HRA and you are paying rent, then you may claim tax deduction […]