Category: Tax Issue

Feb 13

Difference between RGESS, ELSS and PPF

Comparision of RGESS with the top tax saving schemes available in India: RGESS ELSS PPF Eligibility Annual Income less than 10 lakh. None None Lock-in Period 1+2 3 years 15 Years Tax Benefits 50% (80 CCG) 100% (80 C) 100% (80 C) Maximum Investment for Deduction Rs.50,000 Rs.100,000 Rs.100,000 Minimum Investment NA Rs.500 to Rs.5000 […]
Feb 13

All about RGESS

Rajiv Gandhi Equity Savings Scheme (RGESS)   Who can invest in RGESS? New retail investors with an annual income of less than 10 lakhs. How much can I invest? The maximum amount eligible for claiming benefit under RGESS is Rs. 50,000. Tax Benefit Deduction u/s 80 CCG, is available on 50% of the amount invested. […]
Nov 25

FAQ on Section 80CCF (Tax Saving Infrastructure Bonds)

FAQ Issue of Financial Year 2011-12: IFCI, IDFC, L&T 2011, SREI, L&T 2012, IDFC 2012 – Tranche 2, IFCI 2012, IDFC 2012 – Tranche 3 What is the additional tax benefit under Section 80CCF? All of you know that you can reduce your taxable income by investing in certain instruments like tax saving fixed deposits, […]
May 6

Calculation of Income Tax Liability 2011-12

Case Study Jaideep is getting a salary of Rs. 800000 p.a. He has bought a health insurance policy for himself and his family and paying a premium of Rs. 10,000. Jaideep is paying Home Loan interest of Rs.40000 and principal of Rs.30000. He has also bought a term insurance of LIC and paying premium of […]
Apr 7

Fixed Income Tax Saver

Get A Fix On Tax Savings In the rush to save tax, have you paused to think whether you are buying all the wrong products? It's important to look at each of the tax-saving products before committing funds to them. Above all, it's crucial to link your investments to long-term financial goals. Tax-saving should always Read More
Apr 7

Important Deduction

Deduction is the amount, which is reduced from the gross total income before computing tax. There are various Tax Deductions or tax exemptions provided by the Indian Income Tax Act. The tax deductions help to deduct an amount from the taxable income and help Read More
Apr 7

Important Exemption

Income Tax Exemptions refer to those incomes of a person which are not taxable at the time of calculating income tax. In India, Chapter III of the Income Tax Act, 1961 gives the provision for exemptions in Income Tax. All receipts which give rise to income are taxable unlessRead More