News & FAQs

Income Tax Slab for Individuals

News & FAQs | By ALOK PATNIA | Mar 11, 2011

The Union budget 2011 announced by the Finance Minister has revised tax slabs for individual tax payers but comparing between the tax pay...

Budget 2011- Tax impact on Individual Taxpayers

News & FAQs | By ALOK PATNIA | Mar 10, 2011

Union budget 2011 does not provide any respite from the inflation to the common man. There is not much relief to the individual for which...

Budget 2011 – Enhanced exemption limit, reduction in qualifying age for senior citizen, 5 Lacs ...

News & FAQs | By ALOK PATNIA | Mar 1, 2011

Budget 2011 brings most benefits to the senior citizen class. The basic exemption limit for senior citizens has been enhanced from Rs. 2,...

Budget 2011–Scheme for Investment in Infrastructure Bonds Extended to FY 2011-12

News & FAQs | By ALOK PATNIA | Mar 1, 2011

Finance Minister has announced in the Budget 2011 that deduction of Rs. 20,000 u/s 80CCF in addition to the limit of Rs. 1 lac u/s 80C is...

Budget 2011- Relief for Small Salaried Individuals –Not required to file return of income/ Tax ...

News & FAQs | By ALOK PATNIA | Mar 1, 2011

The FM in his budget for 2011 has announced that small salaried individuals having no other income except salary income would be exempt f...

Budget 2011 – Enhanced Basic Exemption Limit, Benefits For Senior Citizens

News & FAQs | By ALOK PATNIA | Feb 28, 2011

The Finance Minister has unveiled the Budget for 2011, applicable for FY 2011-12, subject to appoval by the Parliament. The FM opted agai...

Dividend Income and Taxability

News & FAQs | By ALOK PATNIA | Feb 22, 2011

Dividend is the payments made by a company to its shareholders or members out of the profit earned by the company. The company is liable ...

Retirement Benefits and its Taxability

News & FAQs | By ALOK PATNIA | Feb 22, 2011

Employer’s retirement savings plan is an essential part of the employee’s future financial security. Every employee must know about t...

National Savings Certificate (NSC) – Investment and Taxability

News & FAQs | By ALOK PATNIA | Feb 22, 2011

National Savings Certificate (NSC) is an assured investment instrument which provides double benefit to the certificate holder. It gives ...

Plan your residency and save taxes

An individual is said to be a resident in India, if he satisfies any one of the following two conditions (i) He is in India for a period ...

Basic principles for charging of income to tax

News & FAQs | By ALOK PATNIA | Feb 21, 2011

Income tax is a tax charged on income of any person. Income tax is an annual tax on income. Income earned in financial year is taxed in t...

All about Gifts – Registered deed or plain paper

News & FAQs | By ALOK PATNIA | Feb 19, 2011

A gift deed is a deed that is executed and delivered in which the donor transfers title to the donee without any payment or consideration...

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