Tax Slabs

Till rupees 2.5 lakh per annum income there is no income tax. For senior citiens there is no tax till 3 lakh. For person of age of 80 years and above there is no income tax till rupees 5 lakh.

Tax/Account for NRI

If you are Non Resident Indian, you will be paying Tax in country you are living. If you relocate during year, you need to consider in which country you will pay tax.

even if you are non Resident India and have income from Indian sources, you need to include this in income tax filing.

Income Tax Returns

To file your Income Tax returns, you need to fill and submit the requisite forms (ITRs). There are different ITRs to file your income returns, depending on your profession/business/property.

The four types of Income Tax Return forms applicable for individuals and Hindu Undivided Families (HUFs), depending on the source(s) of income, are: Saral-II (ITR-1), ITR-2, ITR-3and ITR-4.

Tax Savings Tips through investments in India

There are lots of financial schemes available in India. Many of them provides you guaranteed returns, high interest rates, tax savings under various sections of INDIAN INCOME TAX ACT and much more benefits.

These financial plans not only provide you money growth but also provide you with financial security at various steps in your life.

Tax for Capital gain in India

This is a form of an income which is earned by selling the property or any investment. This income can be represented including a farm, house, work of art or a family business. It is a well known fact that if a buyer buys the property at lower rates and sells at higher rates, then the buyer makes profits. The capital asset sale and the profit hence made will be considered as a capital gain.

Health Insurance and Tax saving schemes in India

People who are looking for options to save their tax have a reason to smile now. This is because of the reason that various insurance companies offer numerous health insurance schemes and other tax saving options. It is very important that your future and the future of your family must be secured. By obtaining a health insurance, you will be able to get health benefits in need and save tax.

Tax Structure in India

We all are aware of the fact that we have to pay tax to our government in one form or the other and this is the reason why it is important to understand the state and country law for tax payments. Every person who is earning has to pay income tax to the government and he is required to show the income sources. Apart from income tax,

Important facts about VAT (Value Added Tax)

We all are aware of the fact that we have to pay for VAT for goods and services we have received. It is considered to be a general consumption tax which is assessed on these items. This is the indirect tax which we have to pay for the consumption of these goods. The tax has to be paid by the original producers or the manufacturers upon the transfer or change in goods.