Responsive & Mobile Design

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 >

Responsive & Mobile Design

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 >

Responsive & Mobile Design

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 However if the income exceeds `5,00,000/- the rebate is withdrawn.**Surcharge of 10% if…Continue Reading >

Responsive & Mobile Design

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 >