Mukesh Patel.in
practical tax & investment planning online
international tax expert / columnist / author / speaker
Currently Browsing: Smart Strategies for Tax Saving

DEAR FM, GRANT US TODAY WHAT IS LONG OVERDUE!

Rationalize Tax Breaks for Health, Housing, Education and Savings prays every ‘Aam Kardaata’ on this B-Day!

UPA won its mandate in 2009 on the backing of ‘aam aadmi.’ In the tax parlance, the FM’s ‘aam kardaata’ is represented by the common salaried earner, small investor and senior citizen, the largest in number amongst the constituency of income-tax payers. This class of taxpayers is thus rightfully entitled to ask the FM, on this Budget Day, to grant them what is infact overdue!

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SHARE INVESTMENT NOT BUSINESS!

Mumbai High Court Stresses On Need For

Uniformity & Consistency In Approach!

“Activity of a taxpayer accepted as investment in shares in earlier years cannot be treated as business in subsequent years, if facts are the same.” This landmark ruling of the Mumbai High Court delivered on 6th January, 2010 will make several investors heave a sigh of relief, in the backdrop of the recent onslaught of the Income-tax Department in treating capital gains from securities liable to tax as business income from trading in shares. While long term capital gains from securities are exempt and short term gains attract a concessional tax, business income gets taxed at normal rates. (more…)

PPF MAGIC UNSTOPPABLE!

You Can Build Amazing Tax Free Capital

For Your Children Via Investment In PPF!

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ELSS – A CHAMPION TAX WINNER!

Golden Opportunity To Reap Healthy Returns

Coupled With Valuable Tax Saving Benefits

Equity Linked Savings Scheme (ELSS) has emerged as an amazing new investment option, offering you the golden opportunity to reap healthy returns through equity investment via mutual funds, coupled with valuable tax saving benefits. If the choice is judicious, the timing is right and lady luck smiles on you, ELSS can be a champion winner all the way. (more…)

Perks & Jerks for Employees!

Perquisite Rules Mere ‘Old Wine In New Bottle’

Salaried Get No Relief From Anomalies & Inequities

With virtually no reprieve from the tax burden on their pay packages and continuing anomalies and inequities, the new rules for valuation of perquisites announced by the Central Board of Direct Taxes (CBDT) on December 18, 2008 have hugely disappointed millions of salaried employees. (more…)

Indian Properties in NRI Comfort Zone!

Liberal Regulations For Acquisition, Transfer & Repatriation

For Immovable Properties Held By Non Residents

Thousands of Non Resident Indians (NRIs) settled overseas fly frequently to India, the home of their hearts. Many of them yearn to have a land or house of their own in their native land, either for future settlement or even to share rental gains or just property appreciation. There are those who have come to acquire properties either by way of gifts or inheritance and desire to sell them and repatriate the proceeds overseas. This FAQ presentation on the liberal regulations in this regard will prove handy and useful both for NRIs and their relatives in India.

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Housing Interest evokes Evergreen Interest!

Deduct Now, Pay Later, But Save Tax For Sure!

Deduction of interest on housing loan has been of evergreen interest for readers since it provide focus on valuable opportunities for income-tax saving. Replies to the following queries provide an interesting insight.

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Ensure Smooth Passing Over of Your Immovable Properties

Keep A Joint Holder Or Make A Nomination

And Direct A Clear Bequest Under Your Will!

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Model Draft of a Simple Will

MODEL DRAFT OF SIMPLE WILL

LAST WILL AND TESTAMENT OF ________________________

I, _____________________, aged about ___ years, resident of __________ _______________________________________________________________ do hereby declare that this is my Last Will and Testament.

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Tax Planning via Will

Your Will Can Be Strategically Designed To

Reap Valuable Tax Savings For Your Family

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