Blog Archives

Handy tips to save Income tax in India

save income tax India

January has always been the month for fighting to plan tax-related investment schemes. The most popular ones are PPF, NSC, and equity-linked saving schemes. Even bank deposits and life insurance policies are also attractive ones that help ones to save tax up to Rs 1 lakh under Sec 80C. Here some handy tips to save income tax in India by investing ...

Read More »

How to get a PAN and TAN number Online

Changes Correction PAN CARD

PAN and TAN numbers are essential in India when it comes to Income Tax. PAN is useful for those who file income tax, while TAN is for those who deduct TDS from salaries. In this post, we will share how you can get or apply for a PAN number and a TAN number online in India. How to apply for ...

Read More »

Income Tax Returns 2011 to accept only Colour Form, No Black and White

Sahaj Indian Individual Income Tax Return 2011 2012

Just received an email from my Accountant regarding the new specification of the IT Return form for 2011. It will not accept black and white forms and there are new standards set for Fonts, Paper Size, Paper Quality and Bar Code Values. The specifications are: Size of the paper should be A4 Sheet- (8.268 inches by 11.693 inches / 210mm by ...

Read More »

PAN made compulsory for TDS eligible payments

Pan Card

Just received an email from my Chartered Accountant regarding the new section which makes PAN compulsory now.Please read on. Finance Act (2) of 2009 makes PAN compulsory in case of TDS eligible payments. Failing to that, Deductor has to make TDS at a higher rate!! This has been made by introducing a new section 206AA into the Income Tax Act ...

Read More »

Ready for March 31st ? Dont forget these

Pay your taxes

Just received an nice newsletter from my Insurance Broker about 10 things you should do before March 31st which is the last day of the financial year in India and people should pay off advance taxes, get the documents in one place, pay service and prof taxes and all those stuff.  Here are the points in summary rest you can ...

Read More »

Which services are added under 10% Service Tax

Looks like Government have finally aimed to gather more revenue from services rather than on how much income you make which has broader spectrum than revenue generated from Income Tax becuase now you get moeny from both sides in many cases. The Latest Budget has now added more categories under 10% service tax. Here is the list : Service Promoting ...

Read More »

How much Tax you will save : Income Tax Slab changes

Finance Minister Mr. Pranab Mukherjee has given a big relief to the middle class salaried segment after his today’s Budget announcement for the next Financial year. Finance minister has proposed the following Tax slab for the individual tax payer. A comparative picture of present Tax slab & proposed Slab is as follows. ( Incomes and Savings when compared to last ...

Read More »