financial services · Taxation

Income Tax Return Liabilities Possessed on EPF withdrawals

Income tax return imposed on EPF or Employee Provident Fund is an important matter of concern for the employees. There is traditional believe works on their mind that withdrawing money from EPF account is tax-free. In reality, EPF withdrawals are taxable depending on some conditions and in some cases, TDS also get deducted. So, let’s… Continue reading Income Tax Return Liabilities Possessed on EPF withdrawals

financial services

The Importance of PAN Card is Now Increased and Redefined

The recent announcements made by income tax efiling authority of India have made PAN Card mandatory for all account holders. This provision will not only affect the taxpayers, but will also anyone who have an account with any bank or post office. One who does not fall under tax slabs are also required to produce… Continue reading The Importance of PAN Card is Now Increased and Redefined

financial services · Taxation

A Better Understanding Of GST And Its Benefits

The Goods and Services Tax system is soon going to change the picture of Indian taxation system for goods and services we use every day. It is designed with a very neutral structure so that it distributes the application attractively and efficiently. It has various benefits that will impact the national economy and income tax… Continue reading A Better Understanding Of GST And Its Benefits

financial services · Taxation

Expectations and Affects of Goods and Services Tax

GST tax is going to be implemented  by late 2017 as expected by now and there are many questions related to this new change is arising in everyone’s mind. The questions related to taxation is the bigger one dominating taxpayer’s mind. Well the effect will be huge as the whole structure is going to be… Continue reading Expectations and Affects of Goods and Services Tax

financial services · Taxation

Some Lesser-known Incomes That Have No Income Tax Liability

The current financial year is about to end in a few months and people will be start filing online it return to keep their financial status secure. So before you start with your tax filing, you might like to know about some type of incomes that are exempted from all tax liability. These incomes are… Continue reading Some Lesser-known Incomes That Have No Income Tax Liability

financial services · Taxation

An Overview Of GST Effect On The Indian E-Commerce Industry

Goods And Services Tax is the latest point of discussion due to its transition importance. This system will void all existing indirect taxation system by April 2017. However, this is a tentative date, which might extend further, but for now, businesses must get prepare according to this deadline. For e-commerce companies, it will ease many… Continue reading An Overview Of GST Effect On The Indian E-Commerce Industry

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

Must Know Recent Changes in Double Taxation Avoidance Agreement or DTAA

DTAA or Double Taxation Avoidance Agreement is a contract signed between two countries so that the taxpayers can avoid getting taxed twice during making income tax payment.  This agreement not only saves the taxpayers from getting taxed for multiple times, but also encourage international businesses. It applies to the entities who resides in a different… Continue reading Must Know Recent Changes in Double Taxation Avoidance Agreement or DTAA

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