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Public Provident Fund (PPF) scheme was introduced in 1968 by the Central Government of India and is one of the preferred investment option for the risk averse Investors. It provides stable return along with Tax Relief on the Investment. Thus it is a decent investment option when compared with other Investment options as the return is fixed and is normally higher that other schemes. It is risk free investment option and does not get impacted due to market fluctuations (Equity…Continue Reading >

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National Saving Certificate (NSC) was started by the Government of India post Independence as fund was required to speed up the developmental work and also with a motive to inculcate the saving habits among the People. It is a Tax Saving as well as Investment option at the hands of the investor. The tenure of Investment in the NSC varies from 5 years and 10 years (Discontinued) at the present. Before 2011 the minimum tenure for investment was 6 years…Continue Reading >

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“INVESTMENT”: What does it mean?In simple term it means any action or process of putting your present money or earnings in to any instrument or financial product which would provide good return on fund put in, it can also mean accumulation of assets which have the potential to appreciate in the future thereby enhancing the wealth of the concerned individual. Some though might invest to safe guard against any future shortcomings and also to cover their medical expenses in case…Continue Reading >

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Over the last 5 yearsOver the years we have witnessed a slowdown in the Indian Economy characterized by low GDP, charges of corruption and lack of reforms. The global economy too has not fared well either. The scars of 2008 recession can still be seen in the market coupled with lack of reform measures. Moreover the post 2008 era was marked with controversies and allegations against the Government. We have also witnessed the Rupee hitting the all time low of…Continue Reading >

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Individuals whose Annual Income is above `2,00,000/ p.a- will be liable to pay Taxes on the earnings above the prescribed amount. However those earning below `5,00,000/ p.a- will get a Tax Credit of `2000/- on the Tax payable. Now we will look at the Tax Deductions available under the Income Tax Act and Sections applicable. We would also find out Investment and Saving options which could be availed. DEDUCTIONS U/S 80CDeductions are available to the Individuals under Section 80C, 80CCC &…Continue Reading >

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The evaluation of Financial affairs and Investments to reduce the burden of Tax on an individual is known as Tax Planning. It is quite a board term and includes Tax Management with it. Tax Management merely looks into the compliance with the Statutory Tax Laws with regard to disclosure of Income and filing within specified time. While Tax Planning looks at the legitimate ways by which the Tax liability could be brought down to minimum. It steers clear from the…Continue Reading >

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Professional tax is a tax levied by the various State Governments of India on salaried individuals, working in government or non-government entities, or in practice of any profession, including chartered accountants, doctors, lawyers etc or carry out some form of business. This form of tax is in practice for a long time and States were conferred the power of leveling the Tax under Clause (2) of Article 276. The rate at which Professional tax is charged is based on the…Continue Reading >

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INCOME SLABS (INDIVIDUALS BELOW 60 YRS) TAX RATES 1.) Total Income not exceeding `2,00,000/- Nil 2.) `2,00,001 but not exceeding `5,00,000/- 10% of Amount above `2,00,000/-* 3.) `5,00,001-`10,00,000/- `30,000/- Plus 20% of the amount exceeding `5,00,001/- 4.) Above 10,00,001/- `1,30,000/- Plus 30% of the amount exceeding `10,00,001/-** NOTE: *A Tax Rebate of 10% (`2000/- maximum) is available to individuals whose earning is in the range of 2,00,001-5,00,000/-. However if the income exceeds `5,00,000/- the rebate is withdrawn.**Surcharge of 10% if…Continue Reading >

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Savings, Investments and Insurance are the terms we often come across and many of us treat is as same. But in reality this is not true. Many of us may feel that the term may look identical but when you look at it carefully you will realize there lies a point of difference. However though, they might mean different in the practical world but their interrelation cannot be ignored. Savings, Investments and Insurance are not only interrelated but they are…Continue Reading >