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DEAR FM, GRANT US TODAY WHAT IS LONG OVERDUE!

Rationalize Tax Breaks for Health, Housing, Education and Savings prays every ‘Aam Kardaata’ on this B-Day! UPA won its mandate in 2009 on the backing of ‘aam aadmi.’ In the tax parlance, the FM’s ‘aam kardaata’ is represented by the common salaried earner, small investor and senior citizen, the largest in number amongst the constituency of income-tax payers. This class of taxpayers is thus rightfully entitled to...

SHARE INVESTMENT NOT BUSINESS!

Mumbai High Court Stresses On Need For Uniformity & Consistency In Approach! “Activity of a taxpayer accepted as investment in shares in earlier years cannot be treated as business in subsequent years, if facts are the same.” This landmark ruling of the Mumbai High Court delivered on 6th January, 2010 will make several investors heave a sigh of relief, in the backdrop of the recent onslaught of the Income-tax...

PPF MAGIC UNSTOPPABLE!

You Can Build Amazing Tax Free Capital For Your Children Via Investment In PPF! Every parent would naturally be concerned about building capital for his or her children, which would go to ensure meeting their financial requirements for higher education, marriage, settlement in life, etc. One of the major stumbling blocks in doing so are the clubbing provisions under Section 64(1A) of the Income-tax Act, which...

ELSS – A CHAMPION TAX WINNER!

Golden Opportunity To Reap Healthy Returns Coupled With Valuable Tax Saving Benefits Equity Linked Savings Scheme (ELSS) has emerged as an amazing new investment option, offering you the golden opportunity to reap healthy returns through equity investment via mutual funds, coupled with valuable tax saving benefits. If the choice is judicious, the timing is right and lady luck smiles on you, ELSS can be a champion...

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...

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