Tax Planning Calculator

As a Non-resident Indian (NRI), one constantly copes up with the issue of taxability of his/ her income in India. Non-resident Indian is an individual who is a citizen of India or a person of Indian origin and who is not a resident of India....

What is Form 16? Form 16 is a certificate issued by employer to employee, stating the details of income earned and the taxes deducted on their behalf. It is divided into two parts- Part A and Part B. Part A is the certificate of TDS providing tax...

The due dates for filing the Income Tax Returns in India for an individual taxpayer is 31st July of the assessment year unless and until their accounts are mandatorily required to be audited. An “Assessment Year” is the year...

In the recent past, government has made many attempts to bring in the unaccounted and undisclosed black money into India. One of the attempts to achieve this was the introduction of the Income Declaration Scheme, 2016 in this Finance Bill,...

No changes have been made to the existing income tax slab rates for Financial year 2016-17 in the recent Budget announced by our Honorable Finance Minister. However, there has been changes in surcharge, marginal relief and rebate of income tax....

Receipt of gifts on various occasions is very common in India. You must have seen various occasions like birthdays, anniversaries, marriages, Diwali or other occasions, in which people exchange gifts. Ascertaining their taxability is one of the...

Mutual fund, a popular investment medium, is a pool of investor money that gets spread across stocks, debt, bonds, fixed income securities, etc. Fund managers appointed by the Asset Management Companies (AMCs) Mutual fund is broadly categorized...

I remember being hired for my first job. It was a college campus placement and I was really proud of myself since I was one amongst the few people who were selected for the job. We were given appointment letters showing CTC as INR 240,000. I was...

Budget 2016 has come out with a whooping change on the taxability of retirement benefits and the whole nation has evoked strong opposition towards it. Before deep diving into the proposal, let us find out what the existing law states. Existing...

In my first series, I had discussed on the ways to save taxes by restructuring the CTC. In this series, I have focused on other deductions available to a salaried individual and how you can save taxes under other heads, namely, House Property,...