financial services · Taxation

Must Know Income Tax Information For EPF Investors

Employee’s Provident Fund or EPF avails a good deduction on taxable income during online income tax return filing. EPF is a retirement benefit scheme which is maintained by he Employees Provident Fund Organization of India. Now, according to law, both the employer and employee need to contribute 12% of the basic pay into EPF account… Continue reading Must Know Income Tax Information For EPF Investors

financial services · Taxation

Avail Benefits for Both HRA & Home Loan EMI Deduction To Lower Your Taxable Income

There are various deductions one can claim during income tax return filing to avail tax exemption. House rent and home loan are two common ground which can be used to claim tax benefit. Many people stay in a rented house, but also buy another house on loan and goes through the situation when they pay… Continue reading Avail Benefits for Both HRA & Home Loan EMI Deduction To Lower Your Taxable Income

financial services · Taxation

GST and Its Relation with Harmonized System Of Nomenclature or HSN

Goods And Services Tax has been announced recently in India and the focus of this change is to meet the international standards. To meet international standards, it must need to comply with the HSN regime. Harmonized System of Nomenclature or often referred as HSN is an international standard system of tariff for names and numbers… Continue reading GST and Its Relation with Harmonized System Of Nomenclature or HSN

financial services · Taxation

Know The Difference Between Financial Year And Assessment Year In Income Tax Form

Every year, millions of Indian citizen carry the income tax filing routine to maintain their financial profile. The most important thing one need to know during income tax filing is the various terms encoded into the form. The two terms that always create confusion in the filer’s mind is Financial Year and Assessment Year. In… Continue reading Know The Difference Between Financial Year And Assessment Year In Income Tax Form

Taxation

Reasons Why ELSS Mutual Funds Are The Best Tax Saving Instrument

The current financial year is about to close in some weeks and the “Tax-Saving” will start acting to dominate everyone’s mind during filing income tax online. Mutual fund investments have always been a concern for the investors in the context of tax savings. Investors choose to invest in mutual funds to make sure that they… Continue reading Reasons Why ELSS Mutual Funds Are The Best Tax Saving Instrument

financial services

Gift and The Perspective of Income Tax Regulations in India

The idea of expressing love and warmth for any relationship in India is all about exchanging gifts on every social occasion. According to Indian Income Tax Return regulations, the expensive gifts comes under the income statement of the receiver and must be declared under income statement. These conditions apply only when the amount of Gift… Continue reading Gift and The Perspective of Income Tax Regulations in India