Mukesh Patel.in
practical tax & investment planning online
international tax expert / columnist / author / speaker

NA BULL… NA BEAR…BANO MARKET KE SHER!

Investment In Shares Is Your Best Bet To Beat Inflation
And If Rightly Handled Can Earn Big Fortunes For You!

TAX LURES OF THE CAPITAL MARKET
· Dividend from shares/income from units totally exempt from income tax
· All investments of capital market exempt from wealth tax
· LTCG on sale of equity shares/units of equity funds chargeable to STT fully exempt from income tax
·  STCG on sale of equity shares/units of equity funds chargeable to STT liable to tax at a flat rate of 15%
·  Short term capital loss (STCL) on shares/units eligible for set-off against STCG arising from any other assets liable to tax even at the rate of 30%

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KEEP IT IN THE FAMILY AS YOU SAVE TAX!

Payment of House Rent & Interest on Housing Loan

to Family Members can prove a Win-Win Situation !

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ELSS BONANZA – TAX SAVING WITH AMAZING RETURNS

Reap Healthy Returns Through Equity Investment

Via Mutual Funds Coupled With Valuable Tax Saving Benefits


 

THE ELSS TAX BONANZA

  • Tax Saving upto 30.9% of investment under Section 80C
  • Tax Exempt Dividends under Section 10(35)
  • Tax Exempt Capital Gains under Section 10(38)

The provision for deduction under Section 80C of the Income-tax Act in Equity Linked Savings Scheme (ELSS) opened up a great opportunity for taxpayers to reap the twin benefits of earning appreciation via investing in the capital market, along with reaping valuable income-tax saving.

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TDS SHOCK FOR SMALL INTEREST EARNERS!

Strong Protest Needed Against Harsh DTC Provision

Abolishing Declarations For Non Deduction Of TDS!

Manubhai Shah, a senior citizen, is earning interest on his bank deposits of Rs.2,40,000. However, since he is not liable to pay any income-tax on his total income after eligible deductions, he currently enjoys the relief of exemption from TDS by submitting the prescribed Form 15H to the respective banks making interest payments.

But this luxury of TDS exemption may not live long. The new Direct Tax Code to be effective from 1st April, 2012 does not provide for any similar relief and hence Manubhai’s interest receipts of Rs.2,40,000 will have to bear the harsh 10% TDS brunt of Rs.24,000. (more…)

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