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Budget 2015: How New Service Tax @14% Will Impact Your Pocket

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While Union Budget 2015 is said to be a bold budget, it came with mixed announcements, some of which are positive for the pockets while some are not. Finance Minister Arun Jaitley also announced increase in Service Tax from 12.36% to 14%. Increasing expenditure of consumers, the new Service Tax @14% on services has taken effect from June 1, 2015. Though ... Read More »

How To Do Tax Planning In 2013?

Tax planning implies the spelling out of financial goals, where by the financial goals are aligned according to the tax liabilities and taxation is managed in a legal and systematic manner. Before planning tax liability it is important that the taxpayer studies a few basics. Every taxpayer shall go through Section 80C for getting acquainted with tax planning with schemes ... Read More »

Capital Gain Tax With Indexation Benefits

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Today I am going to tell you what are the indexation benefits of Capital Gains, but before we look into benefits its worth to understand what is Capital Gain, It’s the profit or gain made by you in long term either by holding or selling your fixed assets like land, buildings, machines and so on. Any assets held by any assesse is ... Read More »

How To Calculate Income Tax On Rental Income?

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If you own two houses and let one house on rent then your second house will generate rental income so you will be have to pay tax on the income received as rent. On the other hand, if you own two houses and don’t let your second house on rent then also you have to pay tax as if your ... Read More »