Tax Deductions Available Under Various Sections For Financial Year 2015-16

Individuals whose Annual Income is above Rs 2,50,000/ p.a will be liable to pay Taxes on the earnings above the prescribed amount. Individuals earning below Rs 5,00,000/- p.a can avail Tax Credit up to Rs 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,…

Impact Of Income Tax For The Financial Year 2015-16

(For Individuals Below 60 years) TOTAL INCOME TAX LIABILITY in FY 2015-16 Tax After Deductions Under **(Sec 80C,80CCD,80D) Up to Rs 2,50,000/- Nil Nil Rs 3,00,000/-               Rs 3090/- Nil Rs 4,00,000/- Rs 13,390/- Nil           Rs 5,00,000/- Rs 23,690/- Rs 2575/-           Rs 7,50,000/-               Rs 77,250/-    Rs 30,900/-   Rs 10,00,000/-   Rs 128,750/-    Rs 82,400/-…

Income Tax Slabs And Rates For The Financial Year 2015-16

ASSESSMENT YEAR 2016-17 INCOME SLABS (INDIVIDUALS BELOW 60 YRS) TAX RATES 1.) Total Income not exceeding Rs 2,50,000/- Nil 2.) Rs 2,50,001 but not exceeding Rs 5,00,000/- 10% of Amount above Rs 2,50,000/-* 3.) Rs 5,00,001-Rs 10,00,000/- Rs 25,000/- Plus 20% of the amount exceeding Rs 5,00,001/- 4.) Above Rs 10,00,001/- Rs 1,25,000/- Plus 30% of the amount exceeding Rs 10,00,001/-** NOTE: *A Tax Rebate of 10% (Rs 2000/- maximum) is available under Sec 87A to individuals whose Taxable Income…

Indian Budget 2015: An Insight

Today our Hon’able Finance Minister, Mr. Arun Jaitley announced the budget for the Financial Year 2015-16. In this post I will highlight the major announcements made by him in respect of Economy as well as changes in Direct Tax regime which would impact Individual Tax Payers. Overall the budget did not see any major makeshift but the announcements suggested that the Government is looking to make India an investment friendly destination. The budget did focus on Growth and bringing down…

Samsung Galaxy S4: Looks Impressive With New Price

Samsung recently slashed the price for their 2013 flagship device. It is now available on e-retail stores at Rs 17,999/- ($ 290) approx. The phone does look as an interesting buy at this price. But as far as Samsung’s marketing strategy is concerned it seems pretty weird in my opinion. On one hand they are slashing down the prices of some their premium predecessor devices while launching new devices powered by low specs but with premium price tag. If one…

Samsung Galaxy A3 (Metallic Body): My Views

Samsung launched their Galaxy A Series Smartphones few weeks back which in my opinion boasts of mediocre specifications but comes with premium price tag. These phones have metallic unibody design which is a welcome change from the stables of Samsung. The Galaxy A3 phone has been launched with a price tag of around Rs 20,000/- ($ 320) approx.The phone does look as a major improvement over the previous generation of Samsung phones in terms of build and design but apart…

Inflation Turns Negative in January: WPI Inflation at (-)0.39%

Wholesale Price Index (WPI) for the month of January, 2015 has turned negative as compared to 0.11% in the previous month. The last time WPI had touched such low level was in June, 2009 when it stood at (-)0.4%. The forecast was for inflation to be around 0.40% for the month of January, 2015. The WPI for the month of November has also been revised to (-)0.17% from 0%.The food inflation however  rose to 8% in the month of January.…

Xiaomi Mi4: The Much Hyped Flagship Device

Xiaomi has finally decided to launch their new Flagship device in India, i.e Mi4. The device will be up for Flashsale on 10thFeb,2015 and registration is already open exclusively on Flipkart Portal. Xiaomi Mi4 has been priced at Rs 19,999/- ($ 330 approx) for the 16Gb variant which looks reasonable for the specs on offer.The device was launched in China few months back and does seem to be a great value for money device as the performance thus far has…

Budget 4G Smartphones Comparison

We have seen few Smartphone manufacturers have launched their budget Android 4G devices in the market in the last few months. These phones are backed by impressive hardware specs and very affordable prices. Although you won’t find much difference between them in terms of specs and prices but still there are some points of differentiation. In this post I will speak about the pros and cons of each of these devices in my opinion which will help you to make…

Samsung S3 Neo: Old Device But New Price

Samsung recently slashed the price of Galaxy S3 Neo. The specifications on this phone really make it an attractive buy at this new price. I won’t do a full review of this device as it is a pretty old device by Smartphone Industry standards. It was launched early last year but with a very high price tag of around Rs 25,000/- ($ 400 approx) at that point of time. I strongly feel the present price of Rs12,499 ($ 200 approx)…