Indian Budget 2011 Highlights

Finance Minister has started presenting his sixth Budget in the Lok Sabha. The Highlights of the federal budget 2011 are follows:- Highlights Service tax to cover hotel accommodation above Rs 1,000 per day, A/C restaurants serving liquor. Air-conditioned hospitals with more than 25 beds come under service tax regime. More services to will come into service tax net. Ship owners …

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Difference Between Copyright, Trademark & Patent

Some people confuse between patents, copyrights and trademarks. These are three main types of intellectual property protections which have some similarities among each other, but each type is used for a specific type of work and serve different purpose. Copyright Copyright is a form of protection provided to the authors for there original work. It includes Literature, dramatic, musical, artistic …

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What Is Wash Trading In Stock Market?

Wash Trading is an illegal form of stock manipulation in which an investor simultaneously sells and buys shares in order to artificially increase trading volume and thus the stock price. It is an unethical practice designed to make it appear that a purchase and sale has occurred even though no change in ownership occurred. It is considered to be highly …

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DTC : Direct Tax Code

The DTC is direct tax code, it  is said to replace the existing Income Tax Act, 1961. The Government had announced its intention to introduce a revised and simplified Income tax Bill. If approved, the DTC shall come into force from April 1, 2012, and shall be applicable for the financial year 2012-13. The new tax code would be a vast …

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High Risk Life Insurance Policy

High-risk life insurance is a type of life insurance coverage that provides benefits to individuals who do not qualify for other types of life insurance plans. It especially provide coverage to people in apparently dangerous occupations which includes careers like flying instructors, racing car drivers and salvage divers etc.. It takes into account also those who have existing illnesses that …

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Tips & Techniques For Tax Savings In India

Money Saving Tips

Are you looking for some useful tips & online resources which can help you to save your hard earned money. There are different ways to save your tax and save a lot of money. There are lots of financial schemes available in India which provides you guaranteed returns, high interest rates, tax savings under various sections of Indian Income Tax …

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How Term Insurance Is Better Than Permanent/Whole Life Insurance?

Before taking life insurance its better to understand the difference between term insurance and other types of policies. Term insurance is the original form of insurance which is also known as term life insurance. Term insurance is a type of life insurance policy that provides coverage for a specified period of time. It only provides coverage against death and do …

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What Are The Advantages & Disadvantages Of Triple Net Lease?

A triple net lease is a type of commercial leasing agreement on the property in which the lessee has agreed to pays taxes, insurance, and maintenance in addition to the rent. The lessee has to pay the net amount of  three types of costs ‘Net Real Estates Taxes’, ‘Net Building Insurance’ and ‘Net Common Area Maintenance’ which how this term …

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Check Your Form 26AS For TDS & TCS Tax Credit

Form 26AS is a consolidated tax statement that each Pan card holder can view at ITR e-Filling website. To view the tax statement, assessee needs to register on ITR e-filling website with there Pan card number and can view Tax Credit Statement(Form 26AS). It is an annual Tax statement regularly updated by income tax department. It allows tax payers to …

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What Is An Ad Valorem Tax?

Ad Valorem, term is derived from the Latin word, meaning “according to value”. An Ad Valorem denotes a tax, duty, fee or commission that is calculated as a percentage of the sales price or value. An Ad Valorem tax is a tax based on the assessed value of real estate or personal property or a specific item. In other words …

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Who Are Actuaries?

An actuary is a business professional who basically deals with the financial impact of risk and uncertainties. Actuaries provide expert assessments and advice of financial security systems, with a focus on their complexity. Actuaries assess risk with there knowledge of statistics, finance actuary, finanand business and help create policies for businesses and clients that minimize the cost of that risk. …

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DIN : A Unique Number For Taxation Purpose

The Income Tax (IT) department has come up with an additional identification number i.e DIN for tax payers after PAN Card. DIN is Document Identification Number, it is an another identification number that income tax department has introduced for tax payers. The DIN has been introduced through the guidelines issues by the Central Board of Direct Taxes (CBDT). Income tax …

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Check Income Tax Slabs & Rates For Current Financial Year (FY)

The income tax slabs / brackets and the income tax rates changes every year. Knowing Income tax slab for the current year helps us evaluate our income tax liability for the year. The slabs for men, women and senior citizens are also defined separately by the income tax (IT) department. Lets have a details of the applicable income tax slabs …

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Tax Exemptions As Per Income Tax Act 1961

Every income is taxable under income tax law, whether it is received in cash or in kind, whether it is capital or revenue income, but still some incomes are given exemption from tax. Income-tax Act contains  a number of provisions which exclude various kind of incomes from the purview of taxation. The incomes enumerated below are exempt from tax Agricultural …

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What Is Portfolio In Finance?

In finance, a portfolio is a collection of investments held by an individual or an institution. Many types of investment opportunities are available in the market which make people and institutions invest there money in different types of investments at one point of time, this collection of investment is called as finance portfolio. Owning a portfolio of assets is part …

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