Tax Planning | Enrichwise

July 27, 2014 Tax Planning admin

Latest Cost of Inflation Index March 2014 & Double indexation benefits.

Cost of Inflation Index upto FY 2013-14. (The year mentioned is financial year(FY) The cost of inflation index is useful for income-tax assesses in the computation of tax on long-term capital gains (for indexation purposes). In the previous two years, the cost inflation index rose 10 per cent and 12.5 per cent, respectively. A cost inflation index helps reduce the […]

February 6, 2014 Tax Planning admin

Understand Income Tax Clubbing provisions and How to invest in Spouse's Name

Financial planners contend that couples should ideally combine their finances. The meshing together of the investments of the husband and wife not only strengthens the household’s financial fibre but gives them a comprehensive view of the real situation. However, the taxman has set limits to this joining of the finances of the two spouses. He […]

December 27, 2013 Stocks, Mutual Funds, Etf's etc, Tax Planning admin

Top 10 ELSS Mutual Fund Investments for 2014!!!

Most of the investors have begun to ask about investing in ELSS Mutual funds as we are nearing March. As you are aware, ELSS investments can be claimed as deduction u/s 80C (up to a max of 1 lac) Here is the list of top performing ELSS Mutual funds.The list is based on past 5 […]

July 15, 2013 Tax Planning admin

What is Wealth Tax?

There may be liberty and justice for all, but there are tax breaks only for some. ~ Martin Sullivan A majority of the tax payers in India are ignorant about the wealth tax, and it’s implications. Wealth tax is a good potential annual recurring income stream for the government. However, it is perplexing why the […]

June 4, 2013 Stocks, Mutual Funds, Etf's etc, Tax Planning admin

Increase in Dividend Distribution Tax from June 01 2013 in Debt Mutual Funds – Impact

. In the FY14 Budget the Finance Minister has proposed to increase the Dividend Distribution Tax (DDT) on Debt Mutual Funds (other than liquid and money market funds on which the DDT was already 25%) from 12.5% to 25% (plus surcharge and cess) for individuals and HUFs. The hike is proposed to provide uniform taxation for […]

February 20, 2013 Tax Planning admin

Time to take double indexation benefit ~ From Now until March 2013

It is that time of the year when you have a window of opportunity to intelligently invest for just over 1 year and get tax free returns. The opportunity arises every year from mid-feb until financial year ending i.e March 31 You need to invest in Fixed Maturity Plans (FMP’s) of more than 14 months […]

December 2, 2012 Stocks, Mutual Funds, Etf's etc, Tax Planning admin

Taxation (2012-2013) on Mutual Fund Schemes ~ Snapshot

. . The Tax Maze never ceases to amaze. There are various options available to investors in equity, debt etc. And each type of investment is taxed differently according to the residential status, period of holding, type of investment & tax bracket. Here is a snapshot of the taxation (2012-2013) on Mutual Fund Schemes in […]

November 27, 2012 Tax Planning admin

Section 80C Tax saving investments

Income during an income year of an Individual is assessed for tax under Income Tax Act 1961. It is general tendency of assesses to commence savings during the end of the Income Year, mostly to seek exemption from Income Tax thus reducing Income Tax liability. They have to combine their savings with financial planning Section […]

October 18, 2012 Stocks, Mutual Funds, Etf's etc, Tax Planning admin

Cost of Inflation Index AY 2012-13 ~ Long term Capital Gains ~ Double Indexation

COST INFLATION INDEX TABLE – FINANCIAL YEAR 1981-82 ONWARDS: Assessment Year (AY) Financial Year (FY) Cost Inflation Index (CII) 2014-15 2013-14 – 2013-14 2012-13 852 2012-13 2011-12 785 2011-12 2010-11 711 2010-11 2009-10 632 2009-10 2008-09 582 2008-09 2007-08 551 2007-08 2006-07 519 2006-07 2005-06 497 2005-06 2004-05 480 2004-05 2003-04 463 2003-04 2002-03 447 […]

July 7, 2012 Tax Planning admin

What is form 26AS~Important Tax Statement

What is Form 26AS? A1Form 26AS is a consolidated tax statement issued under Rule 31 AB of Income Tax Rules to PAN holders. This statement with respect to a financial year will include details of: a) tax deducted at source (TDS); b) tax collected at source (TCS); and c) advance tax/self assessment tax/regular assessment […]

Category: Tax Planning