FILING INCOME TAX EASIER

This year Income Tax Department has made filing income tax return much easier. ATM machines for the first time in terms of CBDT has decided to kioks the shopping malls, residential Sosyti or other public places will be made.
Takspeers in small and medium towns, in addition to mobile van has also been provided.Welfare society will place mobile vans to help tax payers.
Various camps will be organised in Delhi and other places to help tax payers in filing return.
So this time it is being made very easy, so file your tax without any problem and do file it before last date […] Read more

BENEFITS OF RUPEE DEPRECIATION TO INDIAN HOTELS

India’s luxury hotels, which have overseas operations have gained with depreciating value of rupee. Stock of East India Hotels has increased in last one month. The stocks of Indian Hotels have surged up to 15% in last one month while stocks of EIH has appreciated by 5%.
It is being observed that tariffs of luxury hotels have become economical in dollars for foreign tourists. And for Indian hotels foreign tourists account for 60% of the total demand. Indian Hotels is clocking an average occupancy rate of 65%.

[…] Read more

TIPS FOR INVESTING IN FIXED DEPOSITS

Many of us think that fixed deposit is safest form of investment, but here are few things that should be considered while investing in fixed deposits:

1. FIXED DEPOSITS ARE NOT ENTIRELY SAFE: You must split your amount of investment and invest in different banks as fixed deposits. This will safeguard your money, an added advantage is that if you need the amount in case of an emergency, you won’t have to break the entire deposit.

2. LADDER YOUR INVESTMENTS: Fixed Deposits are prone to uncertainty because interest rates move in multi year cycles. To avoid such uncertainity build a ladder […] Read more

LESSER KNOWN TAX DEDUCTIONS

Many individuals think that tax deductions means investing in public provident fund or life insurance policy only. But there are lots of other deductions that are available and people don’t claim them as they are not aware of them. Here are some of the deductions about which people of unaware:
1. MEDICAL EXPENSES FOR SPECIFIED DISEASES LIKE AIDS, CANCER
The actual expenditure incurred on treatment of specified diseases like AIDS, Cancer, etc. is deductible to the extent of Rs. 40,000 or the actual expenses whichever is lower. And in case of Senior Citizens the maximum limit is Rs. 60,000.
2. DEDUCTION OF MEDICAL EXPENSES INCURRED […] Read more

GAAR

I have already mentioned in my earlier posts about meaning of GAAR. GAAR is General Anti Avoidance Rules. Assocham said that the government should put off implementation of GAAR until 2015 as these have created a bad perception about Indian tax laws among global investors. But Finance Ministry has put out a comprehensive draft of new guidelines for GAAR. Here are facts about this draft:
1. Finance ministry said that GAAR will come into effect from April1,2013. Through releasing draft, finance ministry committee stated that FIIs not opting for treaty benefits and ready to pay taxes will not come under GAAR, […] Read more

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