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HOW A SELF OCCUPIED HOUSE IS TAXED?

Special concessions are offered in case of one house property occupied by the taxpayer for his own residence! Under the Income-tax Act, ‘income from house property’ is a separate head of income, under which...

TAX PLANNING FOR MINORS!

Clubbing provisions can be lawfully avoided if income of minor is strategically deferred beyond his minority! Section 64(1A) of the Income-tax Act provides that “in computing the total income of any...

SACHIN SCORED TAX BREAKS TOO!

When ITAT held Tendulkar’s income from modeling & TV commercials, as that of an artist, exempt from Income-tax! “VISA Power… Go get it!”… Millions who have seen Sachin on TV commercials will never forget...

THE MAGIC WAND OF INDEXATION!

Gujarat High Court holds capital gains on gifted or inherited assets also enjoy indexation from date of original holding! Section 49(1) of the Income-tax Act provides that where the capital asset has been...

GOLDEN SECRETS OF TAX PLANNING!

Just light up bright lamps of tax saving for your family this Diwali, by understanding these simple basics! In the words of the celebrated legal luminary and former Judge of the Supreme Court of India, Mr....

WEAVING WONDERS VIA PPF!

With a net annual investment of just Rs.69,100 for 18 years, build tax free capital of Rs.43.59 lakhs for your child! Every parent would naturally be concerned about building capital for his or her children,...

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