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Capital Gain Tax With Indexation Benefits

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 …

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How To Calculate Income Tax On Rental Income?

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 …

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Investment Proofs For Claiming Income Tax Deductions FY 2012-13

Are you done with your investments to avail tax deductions this financial year? If yes, then you must know that submitting the proofs of your investments to your employer as evidence of your investment is equally important as making investments. In simple words, as a tax payer you are required to submit the proofs of your investment to your employer …

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Public Provident Fund (PPF) In India: Safe Investment To Save Tax

Financial year 2012-13 is moving towards its end and this is the time when most of the tax payers think of investing in different tax saving instruments to save tax. Tax saving instruments are those investment schemes which offers tax deduction under income tax act 1961. Although there are number of tax saving instruments available in the market like ELSS, …

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Income Tax (IT) Implications On Gift Received In India

Gift is something we all like to get from our loved once but are we aware about the tax implications on the same. Under Income Tax Act 1961, there are many rules on receiving gift  based on the nature of the gift and from whom the person has received the gift. As per income tax act, gift received in the …

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