Our 71st Independence Day is now behind us! It has been nearly three quarters of a century since our country has been free from the British Empire. We are free to live our lives the way we want to, within the confines of legal jurisdictions, of course. We can make our own decisions and choose […]
The Income Tax Department has announced an extension on the deadline to file income tax returns. The new return filing deadline for FY 2016-17 (AY 2017-18) is 5 August 2017. The extension was announced today from the previous deadline of 31 July 2017. Taxpayers who have an income of more than ₹5 lakh have to […]
The government today announced the interest rates for small savings schemes for the July-September 2017 quarter. Interest rate on Public Provident Fund (PPF) has been cut by 10 basis points to 7.8% Interest rate on Kisan Vikas Patra has been cut by 10 basis points to 7.5% Interest rate on National Savings Certificate has been cut […]
Yesterday, The Economic Times carried a story in print (see online version here) that explores whether GST will apply to bloggers. One of the quote mentions ClearTax and is reproduced below. Bloggers earning under `20 lakh a year from their blogs do not have to register for GST, said a tax consultant with online tax-filing […]
Any profit arising from the sale of long term capital assets is called as long term capital gain and is chargeable to tax at the rate of 20%. However, you can save this tax if you invest the amount of capital gains in long term specified bonds as notified by the government under section […]
Much debate has been going on about whether Aadhaar must be provided in income tax return. Recently, the Supreme Court of India has said that if you have an Aadhaar Card you must mention it while filing your income tax return. Here is a brief summary of the honorable Supreme Court’s decision : Starting 1st July, […]
The due date for employers to furnish Form 16 to their employees for FY2016-17 has been extended to 15th June,2017. Earlier as per income tax rules, the due date for furnishing Form 16 by employers was 31st May,2017. Form 16 is an important document for every salaried person. It contains the details of TDS deducted […]
During this lifetime of a parent, probably the most important phase comes at the time of the child’s education. Quality education is very important for the upbringing and future of the child. We all know this; the importance of education is not something we need to talk about. But getting a quality education has become […]
Narendra Modi took oath as the Prime Minister of India on 26 May 2014. A lot has happened in these past three years, not only on the political front, but in the world of personal finances as well. Has it been Achche Din for your money? Let’s take a look at how the Modi Government […]
It is that time of the year and the due date (31 July 2017) for filing income tax return is approaching. Here is a quick checklist for you to start filing your income tax return and complete it in one go. Have your PAN ready Make sure you have an Aadhaar card Get Form 16 […]
