practical tax & investment planning online
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THE MAGIC OF SUSTAINED SAVING!

 The golden secret of earning from saving is not just how much you invest, but also how long you invest!  THREE GOLDEN INVESTMENT QUOTES Managing your money requires more skill than making it. Savings will not make you rich, only smart investments will.  Plan your play and play your plan. Let it not be a ship without a rudder, floating where the tide takes it. While Manan Patel a conscious investor started timely...

TAX PLANNING FOR THE SALARIED!

You can enjoy a maximum take home pay by including these tax free allowances & perks in your annual pay package! The Income-tax Act provides for a number of allowances and perquisites which have been notified as tax free and every salaried taxpayer must endeavour to negotiate his pay package in a manner that the same can include such tax free allowances and perquisites. This would ensure that he is able to take...

INTEREST ON TAX REFUND!

Every taxpayer is entitled to receive refund within one year from the end of the financial year in which his return is filed!       As per Section 244A of the Income-tax Act, a taxpayer is entitled to interest @ 0.5% for every month or part of the month, (6% per annum) from the first day of April of the assessment year to the date on which the refund is granted, where the refund arises on account of TDS or...

ITAT EXPLAINS EDUCATION!

Holds continuing education and training programmes of Ahmedabad Management Association entitled to exemption! Should the term ‘education,’ in the context of the definition of ‘charitable purpose’ under Section 2(15) of the Income-tax Act, be given such a narrow and restricted meaning, so as to include only formal school or college education? Can a public charitable trust pursuing the objects of continuing...

INVESTMENT WONDERS OF PPF!

Public Provident Fund (PPF) is a hot favourite amongst tax saving investments with an effective return upto 18.22%! PPF enjoys the pride position of being a wonderfully attractive investment scheme offering total safety, a high degree of flexibility, reasonable tax free return and useful tax saving through the shelter of income-tax rebate. Let us take a bird’s eye view of these special attractive features of PPF:...

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