How does it feel when your hard earned money is paid to the government as income tax each month ? If it feels bad, maybe you need to be aware of how much income tax can be saved by you in a financial year. If the money was used for the overall development of theRead More
Tax
Which ITR form to use for filing returns ?
If you are preparing for filing your income tax returns in India then you must be wondering which ITR form to use. The forms available are meant for different purposes so ensure that you understand your scenario first and then pick up which form to use. This year, the government has introduced the need toRead More
What are the income tax benefits on second home loan ?
Many middle class investors in India, especially those from the IT sector, are buying houses. Then there are many who are buying their second homes. Returns from real estate as an investment avenue is only second to equity. And to make it more simpler, you have home loans to assist you in buying your lovedRead More
Taxable income calculator [infographics]
Here is how you can calculate your taxable income. All the 5 heads of incomes have been shown in a graphical format for easy interpretation. The deduction under various sections like Section 80C and others is also depicted. The taxable income is the figure on which your final tax is calculated according to the slabRead More
Clubbing of Income of spouse
Clubbing on income is a very important provision in the Indian Income Tax Act and it makes sure that individuals do not avoid tax by transferring assets to other people. At the back of queries I received on this subject, here is a small primer on clubbing of income of spouse with respect to incomeRead More
Raag Vamdatt’s Income Tax Formula course
The income tax season is fast approaching and many investors who do not understand the basics of income tax planning and filing are going to jeopardize their investments by taking the help of commission trotting agents who will sell them unsuitable products. This is not going to look good in your overall financial planning. WhatRead More