A Tryst with Your Tax Destiny!
Participate in Shaping the Final Contours of The Direct Tax Code
“To qualify being literate in the 21st century, you must be one who can learn, unlearn and relearn.” This quote of Alvin Toffler should inspire taxpayers and professionals of India to get oriented with the new philosophy of the proposed Direct Tax Code (DTC), after their near 50 year old acquaintance with the Income Tax Act of 1961. (more…)
Minus FBT Shock Pay Packets Rock!
Conveyance, Telephone, Entertainment & Medical Reimbursements Get Increasing Attention After FBT Abolition!
The notorious Fringe Benefit Tax (FBT) having been abolished with effect from 1st April, 2009, employers have started taking a fresh look at restructuring the pay packets of their employees to make them more tax friendly. (more…)
Not the Common Man’s Tax Code!
Small Salaried & Investors To Feel Soar!
Amar Bhatt, a middle class employee earning monthly salary of Rs 40,000 (annual Rs 4,80,000), currently manages to maintain a zero tax status by availing tax-free LTC & medical perks of Rs 70,000, deduction of interest on housing loan of Rs 1,50,000 and repayment of such loan of Rs 1,00,000 eligible for deduction u/s.80C.He is bound to be shocked when he gets to know that with the elimination of the exempt perks and scrapping of housing deductions as proposed under the new Direct Tax Code, his taxable income of Rs 4,80,000 will attract a straight tax of Rs 32,000. (more…)
Meet Mukesh Patel
An Eminent International Tax Expert, an Eloquent Public Speaker, a Dedicated Professor, a Popular Columnist, a Versatile Author, an Articulate TV Anchor, an extensive Globe Trotter, an Accomplished Photographer, a Centurion Blood Donor and a Champion of several worthy causes … go to describe the multifaceted personality of Mukesh Patel. (more…)