Tax Deductions under Section 80E

Education loans are a convenient and popular option for many, to meet the cost of higher education.  Did you also know that under Section 80E of the Income Tax Act, repayment of this education loan could be used to claim a deduction? Read on to find out, what this section offers and how to utilize … Continue reading Tax Deductions under Section 80E

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7 Tax Saving Strategies for Salaried Individuals

At the end of every financial year, many tax payers frantically make investments to minimize taxes, without adequate knowledge of the various available options. The Income Tax Act offers many more incentives and allowances, apart from the popular 80C, which could reduce tax liability substantially for the salaried individuals. Here are seven smart tips to … Continue reading 7 Tax Saving Strategies for Salaried Individuals

Filing of Income Tax Returns By Self Employed Individuals

For all self employed individuals, in a business or a profession, the income tax guidelines prescribe a different set of norms for filing of tax returns. Freelancers independent consultant, small time businessman/professional, independent doctor, singer etc… whatever the profession may be, all fall under the purview of income tax and have to file returns under … Continue reading Filing of Income Tax Returns By Self Employed Individuals

Pre-EMI for Under Construction Properties

When buying an under construction home, developers often seek payment on the basis of the stages of construction completed. Catering to such requirements, Home Finance Companies (HFC), facilitate partial disbursements of the sanctioned loan periodically, in tune with the developers demands. For these partial loan disbursements, a borrower would be required to pay what is … Continue reading Pre-EMI for Under Construction Properties

7 Important Tax Documents You Should Be Aware Of

The task of filing Income Tax returns could be quite daunting for many, owing to the plethora of forms the process involves. But in reality it isn’t as complex as it seems. Here is a quick guide to help you understand the typical documents and forms required for filing returns. A clear understanding helps you … Continue reading 7 Important Tax Documents You Should Be Aware Of

The Tax Advantage of Insurance

Its tax saving season and almost everybody is thinking of reducing their tax burden by cramming in last minute investments. Cashing in on this scenario are financial companies making a splash with a plethora of tax saving products such as Infrastructure Bonds, ULIPs, and ELSS etc…  At this point in time, we thought it right … Continue reading The Tax Advantage of Insurance