tax | Enrichwise

April 21, 2020 Tax Planning Kapil Jain

New income tax Regime: What should I Choose?

New income tax Regime: What should i Choose? This is a common question I have been getting from salaried employees who have to choose between old and new regime and declare to their employers for the FY 20-21 * New Simplified Personal Income Tax Regime for Individual Taxpayers Income Bracket Tax Rate 5L – 7.5L […]

February 2, 2019 Tax Planning admin

Interim Budget FY 2019-20 Highlights ! for Normal Salaried

Interim Budget – Highlights ! 1. Full tax rebate for individuals earning up to Rs.5 lakh. Tax savings largely for people earning about 5-10L annually. Minimal impact for people in the higher tax slabs or earning say 15L+ etc. They still save about 3K annual for the savings on tax on 10K increase in standard deduction […]

January 2, 2018 Tax Planning admin

Five SMART things to do in Jan / Feb / March from TAX perspective.

Last 3 months left for financial year end. Five SMART things to do in Jan/ Feb / March from TAX perspective. (Financial Year End 2017-2018 ends in March) 1. Make sure that the 80C investments are done 1.5L for you and spouse(if applicable) 2. Check your short term Capital Gains (from Stocks/MF) – if possible plan […]

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 […]

October 10, 2012 Financial Planning, Stocks, Mutual Funds, Etf's etc admin

How are Mutual Fund Gains Taxed?

. Capital Gain is the difference between sale price and acquisition cost of the investment. Since mutual funds are exempt from tax, the schemes do not pay a tax on the capital gains they earn. Investors in mutual fund schemes however need to pay a tax on their capital gains as follows: Equity-oriented schemes – […]

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 […]

July 7, 2012 Tax Planning, Tutorials admin

Tax Filing ~ Which ITR (Income Tax Return) forms to file~File Online

Now you can File taxes online using the website : https://incometaxindiaefiling.gov.in/portal/index.jsp. Follow these simple steps for filing online. 1. Register using your PAN. Once you login you can choose the Assessment Year for filing the tax : 2. Use the following ITR forms based on your type/ source of Income. 3. Download the return preparation excel sheet. […]

July 16, 2010 Investment Planning, Stocks, Mutual Funds, Etf's etc, Tutorials admin

Why you should never invest in ELSS , Dividend Reinvestment Scheme !

. Equity Linked Savings Scheme (ELSS) is an instrument which many investors use to get advantage in Section 80C, Rs 1 Lac, deduction in Income. There is a 3 year lock in in these schemes. If you choose the Dividend reinvestment Scheme, then the reinvested portion gets locked again for 3 years from the date […]

March 23, 2010 Financial Planning, Investment Planning, Stocks, Mutual Funds, Etf's etc admin

Costly Investment Mistakes to avoid at all Cost – Final Part – IV

. In the process of investing, one often makes mistakes. Here are some of the most common investing mistakes which investors generally make and some of which even I had made in the earlier part of my investment years Of course, learning from the mistakes, continually, the investing experience has truly been rewarding experience. You […]

February 21, 2010 Tax Planning admin

Tax Savings – Section 80C – Part II

In this part, I will cover the Life Insurance premiums, pension plans on mutual funds and from insurance companies, and various expenses which are also eligible for deductions under 80C. Life Insurance premiums covered under Section 80C Premium paid towards life insurance for yourself or your family (spouse and children) is eligible for section 80C […]

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