Blogs

REASONS FOR DELAYED TAX REFUNDS

1. MISMATCH IN TDS DATA: If any details of TDS given by tax payer do not match with data with Income Tax Department, then tax refund of such tax payer will be delayed and he will be issued a notice regarding providing proof of the details given by him.
2. WRONG ADDRESS: Many people provide their current address while filing income tax return. Income tax department has the address given by them at the time of PAN application, so this mismatch can also pose problems in relieving tax refunds. You must update your address as it changes, with Income Tax Department.
3. MISSING BANK ACCOUNT […] Read more

WHY INVEST IN DEBT MUTUAL FUNDS

Following are some of the reasons that make debt mutual funds a better investment choice than other options with fixed income.
 MORE LIQUID THAN FIXED DEPOSITS: A debt fund is very liquid i.e. you can withdraw your investments at any time and money will be in your account next day. Most debt funds don’t levy a charge if investment is redeemed after one month. So, it provides lot of flexibility.
 TAX EFFICIENT: In long term, debt funds are far more efficient than fixed deposits. The longer you hold the debt fund, the bigger is the indexation benefit. No TDS is deducted in […] Read more

FINANCIAL PLAN ANALYSIS

You need to review your Financial plan analysis from time to time. Returns should be checked along with other factors also which are as follows:

1. GOALS: Every financial plan is based on various financial milestones one need to achieve. So it i best to review goals from time to time. In review some things are considered like cost to achieve the goal, time available, etc.

2. CASH FLOWS: Our incomes and expenses keep changing from time to time. It is crucial to check from time to time that how you could be in a better position to reach our financial milestones […] Read more

FDI POLICY MAY BE TWISTED FOR IKEA

IKEA is a Swedish single brand retailer. Government of India may twist the foreign direct investment policy for IKEA. This retailer proposed to invest 10,500 crore in India.

IKEA has demanded some flexibility in the clause that makes it mandatory to source 30% of inputs from domestic SMEs(Small and Medium Enterprises). IKEA is the world’s largest furniture maker.

Government has increased the FDI cap in single brand retail from 51% to 100% subject to domestic sourcing clause. The Departments that frames policy of FDI i.e. Department of Industrial policy and promotion (DIPP), has clarified that they won’t be reviewing FDI policy on […] Read more

THINGS TO REMEMBER WHILE FILING TAX RETURNS

Now only few days are left for filing income tax return for financial year 2011-12. But you should remember few points while filing tax return. Here those points are discussed :

1. CHECK FORM 26AS: You should check your taxes paid on Income Tax website through form 26AS. This form contains details of income paid to you and taxes paid by you through TDS.

2. SELECT RIGHT FORM: This year government has amended and notified new forms. You should carefully select the form by analyzing your situation.
ITR 1(SAHAJ): Salaries, House Property (Where individual does not own more than one house property), Other […] Read more