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FINANCE TIP OF THE DAY
Can you afford your loan?!
Know the quantity of loan you can afford. The banks may sanction loan based on your income but you should look at your monthly expenditure and see if you can afford the maximum that banks offer. As a thumb rule, remember not to let your credit exceed 40% of your income!
Search Results for: service tax slabs
Budget 2010 and the New Direct Tax Code
ion. This article will focus on the impact of the forthcoming budget and the New Direct Tax code with respect to individuals only. Personal Income Tax Rates The New Direct Tax Code talks of substantial increase in the tax slabs for an individual tax assessee. A part of this may be implemented in forthcoming budget. The Tax Code Bill 2009 talks of increasing the 10% slab to Rs.10 lakhs, 20% slab between Rs.10 lakhs and Rs.25 lakhs and 30% a…
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Posted in Tax strategies
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Tax amendments expected in Budget 2013!
The government has been trying to make the tax laws simpler every year; however, there are numerous amendments required in the tax laws. The union budget for the FY 2013-14 will be presented before the Parliament on 28th February 2013 and the finance minister has promised many reforms expected to combat inflation along with stable tax rates. There may also be some changes in the tax slabs to provide some relief from the ever-growing inflation. …
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Posted in Home loan & Tax, Tax, Tax benefits, Tax strategies
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What are the tax implications post budget 09-10?
have other ideas. He has decided to abolish the CTT and FBT. This article gives a clearer perspective of the tax implications of the Budget presented on 06 July 2009. Individual Income Tax Disappointing increase in the tax slabs There has been an increase in the income tax slab of Rs.15, 000/- for senior citizens and Rs.10,000/- for others. This means that the starting slabs become Rs.1.6 L for male taxpayers, Rs.1.9 L /- for female tax pa…
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Posted in Money management, Tax strategies
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Letter to the Finance Minister from a salaried employee!
Respected Finance Minister Sir, as a salaried employee, I voice the feeling of all the salaried in India. The one pain that we all face is because of the feeling that we are the highest taxed people of the country as all our income is transparent and the tax is almost always deducted at source. Tax Slabs Sir, my first request is to increase the tax slabs significantly. The current entry level slab and the gap between the higher levels are too l…
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Posted in Union Budget 2012
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Budget Highlights 2013 – Tax points!
Clarity in Tax laws, stable tax regime, and Independent judiciary is the underlying theme. Tax system should reflect best growth – Tax Reform committee to be setup to make system better. Direct Taxes Little room to raise tax levels. Prudence and Patience. NO CHANGE IN TAX SLABS Tax Credit of Rs 2000 for people in 2 Lakh to 5 Lakh Education Cess to stay at 3% Home loan interest exemption of 1 lakh, If limit is not exhausted it can be carri…
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Posted in Money management, Tax, Union Budget, Union Budget 2013, Yahoo
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Budget ’09: Dear FM, could you please be our Santa?
…and bank guarantee for exports need to be extended in limits. Liberalise archaic labour laws please. We are sure you too would be bored with them! From the Salaried Class. We wish for higher and more reasonable slabs for our income tax. Think of starting the slab from Rs.3L (Rs.25,000/- per month) income. And let’s forget the Rs.10 L highest slab – it is too less at today’s income levels. Why not make it Rs. 5…
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Posted in Credit cards, Money management
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Budget 2010-11 – The Indian citizen wish list gallery
is sandwiched by holidays. Such proactive measures are heartening. In the same vein the citizens of the country are also hoping to be paid heed to during this budget session. Salaried Class’s Requests Taxable Income Slabs The most consistent tax payers in India are the salaried class as their salaries are subject to TDS. Last year’s budget gave only a marginal relief to the salaried class with just a Rs.10,000 hike in the limit …
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Budget 2010 recap – Promises not delivered
…ve ears to the electric vehicle manufacturers where the finished vehicles had to pay only 4% duty, the price of gold was expected to be lesser as the duty on gold ore had been shifted to specific duty. The personal income tax slabs were increased; the prices of mobiles, watches and ready made garments were expected to go down…. But, did all that the FM promised really take place? Or was it a story of Promises made, but, not delivered? The followi…
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Posted in Miscellaneous, Union Budget, Union Budget, Union Budget
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Budget 2010 – It’s a win-whine story
uld be a whine story on the long run. At first look for the budget seemed to bring cheers to the faces of middle class Indians (defined as people earning below Rs. 8 Lakhs as taxable income), what with the increase in the slabs for income tax calculation helping us save anywhere between 20000 to 50000 based on roughly calculated tax savings. But, once the budget speech got over and the initial hoopla died down, it seems like the finance mi…
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Is the budget only about taxes?
The first thing an average citizen of India thinks about before any Government Budget is about his/her personal income tax. Discussions during and immediately following the Budget presentation by the Finance Minister is also about income tax slabs and the tax savings instruments. But is the budget presentation only about income tax? Income Tax As an “Aam Aadmi” all we know is about our own income and the tax related to it. So it is no wonder th…
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Posted in Union Budget 2012
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