In 2011, my friend had taken a home loan for buying a home in Bangalore. The home loan amount was 15 Lakh tenure was 20 years and EMI was Rs.14976. He got transferred to Mumbai before two years. He could have sold the old house and purchased a new house at Mumbai. But, he decided to purchase another house instead of renting. He has taken a second home loan of Rs 15 lakh for 20 years, for which EMI is […]
Download, check out simple Income Tax Calculator of FY 2018-19 (AY 2019-20). This calculator also includes recent changes made in Budget 2018 by Finance Minister. Income Tax Calculation is one of the most complex tasks for the common man. To simplify this task here is Income tax calculator for the financial year 2018-19. It is simple excel based calculator specially made for salaried people. Using this calculator you can calculate your income tax liability for FY 2018-19 (AY 2019-20). Prior […]
Tax Planning and Tax Saving exercise should be done prudently at the starting of the year. We are only a few days away from the end of the Financial year 2017-18. Hopefully, you must have completed tax planning task and submitted proof of tax saving to your employer. However, if you have not completed this exercise you have barely few days left to complete this task. In order to help you here is Tax Saving & Tax Planning guide for […]
Goodbye belated income tax return! – Income Tax Rules are now changed. You cannot file old Income Tax Return. You might have received an SMS from the Income Tax Department saying – “You have not filed the ITR for AY 2017-18. The law has changed and ITR for AY 2017-18 cannot be filed after 31-03-2018. Please ignore if already filed.” This means as per new income tax rule, 31st March 2018 is the last date to file income tax return […]
It is a bitter truth that there is no escape from tax. Sooner or later you have to pay tax or carry out tax planning. If you delay tax planning you may end up selecting wrong tax saving instrument which leads to disaster. Let me share one real-life story with you. Last year in the month of March my friend was looking for tax saving option. One LIC agent approached him and explained about the benefit of “LIC Jeevan Saral […]
