tag:blogger.com,1999:blog-19850480219296782802024-10-05T07:43:47.493+05:30Tax can be complicated, tax can be hard to understand and for many people tax is an headache that won't go away.SimplyTax provides you with all the information you need to know to make tax simple, your most frequently asked questions are answered and we also provide a special online advice facility for those specialist questions.Demystifying tax, this section includes top tax tips and tax saving moves.SimplyTaxhttp://www.blogger.com/profile/00453413393263989543noreply@blogger.comBlogger30125tag:blogger.com,1999:blog-1985048021929678280.post-65181860806515602902010-02-04T23:38:00.001+05:302010-02-04T23:38:42.245+05:30

Q1. How do I save tax? A. You can reduce your tax liability by taking advantage of the various tax deductions.Under Section 80C of the Income tax Act, 1961 you can reduce your total taxable income by up to Rupees One lakh by making specified investments. There are other sections of the Act as well like 80 D, 80 E, and Section 24 under which you can reduce your total taxable income Q2.

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We ask working professionals how they manage their money. As part of this series, we spoke to two young women and got wealth experts to evaluate their financial plan of action.Is their money working hard, enough? Let's find out!MANASI Deshmukh, 25, an HR professional with a BPO company in Mumbai, saves Rs 15,000 from her take-home, every month. She invests this amount in 'safe' avenues

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THE last date for filing your tax returns for the financial year 2008-2009 was July 31, 2009. But even though the process got a tad simpler with the online option, some of you may have missed your deadline. But don't fret. You have a second chance.If all your tax was deducted at source, you can file your returns by March 31, 2010, sans a penalty.In other words, if your

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GADGETS, guitars, long weekends, music and his Maruti Swift are a few things technology critic Laiq Qureshi, spends most of his money on. Laiq's mantra: Don't spend less, earn more. "I wouldn't want to cut down on comfort. It's just not me!" he exclaims.   The good life The 26-year old who works for an online media company in Mumbai earns Rs 25,000 per month. This amounts to

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The investment world is vast and complicated, and most people often fail to see, or choose to overlook the intricacies involved. The decision on where to invest is often arrived at arbitrarily; for example because a relative/friend/ colleague recommended it.   But investing is much more than that. Investing involves not only looking at returns but also understanding impact of other

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  INSPITE of all the contributions made to social causes, there is a huge gap between the demand of money from the needy and the amount donated by philanthropists. This probably, is the reason why the Government has given tax benefits on donations. The amount donated towards charity attracts deduction under section 80G of the Income Tax Act. Section 80G has been in the law book since

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With the government's fiscal deficit ballooning, there are chances of service tax rate being restored to 12 per cent in the upcoming Budget, official sources said. The government had last year cut down service tax rate from 12 to 10 per cent as part fiscal stimulus measures to

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By Sudhir Kapadia, E&Y One of the advantages of December year end musings of life in general is the fact that one can 'cherry pick' some salutary omens in the environment, wrap around a comfortably warm blanket and announce to amuch wearied hassled and over worked populace the golden mantra: 'All is well!'. When it comes to musings on India's Tax policy the temptation is no different.

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The new tax law may penalise long-term investors Most finance ministers in the past gave direct tax reforms a miss, preferring discretion to valour, until P. Chidambaram took the bull by its horns and drafted a new code to replace the Income Tax Act of 1961. The new code is expected to simplify the tax procedures and adopt international best practices. But it could be tough on investors

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Valuation of cars goes through a revision. .rightDiv2{float:right;position:relative;width:220px;BORDER:#787962 1px solid;padding:5px} .leftDiv2{float:left;position:relative;width:140px} Employees will now have to pay taxes on perquisites given to them by their employers as the Central Board of Direct Taxes has notified the much-awaited rules for valuation of the benefits.

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Financial planning is a matter of discipline, as a set amount has to be saved: People on their first jobs don't do much with the salary credited to their account, except spending When you start earning, there is this rush of power you get by seeing money accumulate in your account month-on-month. And this can be quite addictive. More often than not, most people, especially those in their

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BODY { MARGIN-TOP: 25px; FONT-SIZE: 10pt; MARGIN-LEFT: 25px; COLOR: #000000; FONT-FAMILY: Arial, Helvetica } P.msoNormal { MARGIN-TOP: 0px; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; COLOR: #ffffcc; FONT-FAMILY: Helvetica, "Times New Roman" } LI.msoNormal { MARGIN-TOP: 0px; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; COLOR: #ffffcc; FONT-FAMILY: Helvetica, "Times New Roman" } 'Highest NAV in 7 years…

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Beware of insurance mis-selling at banks  Rucha Biju Chitrodia, TNNThese days, you may walk into a bank for a fixed deposit and leave with an insurance product as well. But what if the policy turns out to be not what you had bargained for? According to a senior banking ombudsman official, mis-selling of

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Demystifying Insurance Polices Vidyalaxmi, ET Bureau   Rajesh Sinha, a 30-year-old marketing professional had five insurance policies where he was paying a premium of Rs 50,000 against each of the policies. With such a huge premium outgo, he was under the impression that he was more than adequately insured. But little did he realise that his actual insurance need was 10

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ICICI Pru PinnacleICICI Pru Pinnacle is a unit linked insurance policy that offers the advantage of varying exposure to equities along with downside protection, so that your investments are protected in financially volatile times. It also offers a limited premium payment term while allowing you to enjoy insurance protection for a longer period. ICICI Pru Pinnacle is similar to SBI Life's

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 A hawkish Reserve Bank of India (RBI), while staying away from hiking key rates like repo or reverse repo, hiked the statutory liquidity ratio (SLR) to 25% from 24%. The cash reserve ratio (CRR), the minimum amount banks need to park with the RBI, was also left unchanged. Repo and reverse repo are rates at which the RBI lends to banks and vice versa while SLR is the minimum amount of

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  Sunday Newsletter for 25-10-2009   Weekly Change Index 17-Oct-09 23-Oct-09 Change(Pts) Average Daily Volume (Rs.Crores) Change in Volume (% over previous week) Sensex 17,326.01 16,810.81 -515.20 5574 4.30 Nifty 5141.8 4997.05 -144.75 17294 9.61   Volatility

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Deposit rates offered by companies   Pallavi Mulay, ET BureauCorporate FD is not new, but it was neglected for a long time. However, liquidity crunch in the past couple of years and turmoil in equity market made companies to revisit this option. Number of reputed companies like Tata Motors, HDFC, ICICI Home Finance,

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The Bombay Stock Exchange (BSE) will have a special Muhurat trading for more than an hour on Diwali day on October 17. .rightDiv2{float:right;position:relative;width:220px;BORDER:#787962 1px solid;padding:5px} .leftDiv2{float:left;position:relative;width:140px} Trading would be conducted between 6:15 pm and 7:25 pm, according to information available on the BSE's

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 At 6.15 p.m on saturday, when the whole nation will be celebrating the festival of lights with their families, with some flying off to distant lands on exotic vacations, there is one particular community that would still go to work. Welcome to the tiny but growing breed of stock market aficionados who will be headed towards their stock brokers' offices with their families in tow for

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8 investment lessons from financial meltdown By Sanjeev Sinha Source: http://economictimes.indiatimes.com/quickiearticleshow/4825439.cms The financial meltdown hit the investors hard mostly because they were hardly prepared for such a crisis. Everything for them - from stock markets to mutual funds

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What To Look for in a Fund? Choosing a mutual fund is not an easy task with so many funds. We think that the correct first step towards deciding is to decide on a way of deciding. Rarely do investors-normal investors, who do something else for a living-have a systematic checklist of things that they should evaluate about a fund, which they are considering buying. Here's our blueprint for a

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FAQs on applicability of Surcharge and Cess on TDS after budget 2009 and on new TDS rate   1. What is the date when the Finance Bill became Finance Act 2009? 19-08-2009 2. In which cases surcharge on TDS rates is NOT applicable? On all payment to residents On all payment to non-corporate non-residents On all payments to foreign corporate if total payment is less than

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