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Perks & Jerks for Employees!

Perquisite Rules Mere ‘Old Wine In New Bottle’ Salaried Get No Relief From Anomalies & Inequities With virtually no reprieve from the tax burden on their pay packages and continuing anomalies and inequities, the new rules for valuation of perquisites announced by the Central Board of Direct Taxes (CBDT) on December 18, 2008 have hugely disappointed millions of salaried employees. The near five and a half month...

Indian Properties in NRI Comfort Zone!

Liberal Regulations For Acquisition, Transfer & Repatriation For Immovable Properties Held By Non Residents Thousands of Non Resident Indians (NRIs) settled overseas fly frequently to India, the home of their hearts. Many of them yearn to have a land or house of their own in their native land, either for future settlement or even to share rental gains or just property appreciation. There are those who have come...

DRAFT CODE GOES OFF THE ROAD!

‘Taxing Times’ Crusade Creates A Historic Impact As FM Assures ‘No New Code Without Consensus!’ “DTC is not Bhagwat Gita which cannot be changed”  – Pranab Mukherjee in Lok Sabha Nearly four months after releasing the draft ‘Direct Taxes Code’ (DTC) for public debate, the Union Finance Minister Pranab Mukherjee gave clear indications in the Lok Sabha last Friday that the government was open to virtually...

Housing Interest evokes Evergreen Interest!

Deduct Now, Pay Later, But Save Tax For Sure! Deduction of interest on housing loan has been of evergreen interest for readers since it provide focus on valuable opportunities for income-tax saving. Replies to the following queries provide an interesting insight. Tax Saving Even Without Actual Payment! Query: I am desirous of investing in a house and need a housing loan of Rs.20,00,000.  An institutional loan would...

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