How to maximize tax benefits on a joint home loan

Generally all of us think that taking a loan to buy a residential property is not a good idea and so, they start saving some amount from their monthly income into recurring investment or a Systematic Investment Plan (SIP) offered by mutual funds. But the financial planners recommend that for … Continue reading

Income tax rates for Financial year 2015-2016

1). Individual resident aged below 60 years (i.e. born on or after 1st April 1955) or any NRI / HUF / AOP / BOI / AJP* Income Tax : Income Slabs Tax Rates i. Where the total income does not exceed Rs. 2,50,000/-. NIL ii. Where the total income exceeds … Continue reading

Highlights of Union Budget for 2015-16

INTRODUCTION: Credibility of Indian economy has been re-established in the last nine months. Indian economy about to take-off on a fast growth trajectory. Most growth forecasts have upgraded Indian economic growth while downgrading global economic growth. Economically empowered States are equal partners to Indian economic growth. Round the clock, round … Continue reading

Govt relaunches Kisan Vikas Patra investment scheme

In view of popular demand, the government will on Tuesday relaunch saving instrument Kisan Vikas Patra (KVP), wherein the invested money will get doubled in 8 years and 4 months. The KVP will not only provide safe and secure investment avenues to the small investors but will also help in … Continue reading

Seven ways your family can help you save taxes

A family is there for support always not only emotionally, physically but also financially. The member of family can be useful to save taxes. However, the investments and spending done for your family are not eligible for tax rebates. But there are some perfect legal ways by which your family … Continue reading

ATM use over 5 times per month will attract fee now

In a month beyond five times, using ATM’s to withdraw money or for other purposes like balance inquiry will attract a levy of Rs. 20 per transaction. From Saturday the new guidelines that comes into force as per the Reserve Bank’s (RBI), in six metros – Delhi, Bangalore, Hyderabad, Kolkata, Chennai and Mumbai to withdraw … Continue reading

Income Tax Slabs & Rates for Assessment Year 2015-16

1). Individual resident aged below 60 years (i.e. born on or after 1st April 1955) or any NRI / HUF / AOP / BOI / AJP* Income Tax : Income Slabs Tax Rates i. Where the total income does not exceed Rs. 2,50,000/-. NIL ii. Where the total income exceeds … Continue reading

EPF Limit increased to Rs. 15000 from Rs. 6500

At the thought of social security the first thing that comes in mind for most of the employees that is Provident Fund. It is a fund of the employee which contributes each month 12 per cent of their salary and hope for their old age of saving money. Under the … Continue reading

Form 16 (TDS Certificate)

What is Form 16 (TDS Certificate)? Form 16 is a TDS certificate, while making payment to an employee deducting the TDS which is issued by the employer. Form 16 is also known as Salary TDS Certificate. In the prescribed from within a prescribed time the TDS certificates have to be … Continue reading

Corporate Fixed Deposit High Rate of Interest with very high Risk.

Corporate Fixed deposits offer High Rate of interest. Generally Banks offer 9 to 10. 5 % Rate of interest for period over 12 months. Comparative Rate of Interest of Corporate’s is given below. COMPANY RATING 6 MON 1 YEAR 2 YEAR 3 YEAR DHFL Aashray Deposit Scheme 13 Months-Trusts Only … Continue reading