Most of us lack behind in the Tax planning. We always do it at the end of Feb or Mar, because of which we end up into wrong decisions. Here we will help you to identify Tax saving investments as per your requirement. In India we can save Tax under sec 80cc up to [...]

In what can hold out hopes for lakhs of home owners, the urban development ministry is pushing a proposal to double the income tax relief on home loan interest payout to Rs 3 lakh, triple the exemption on payment of the principal amount and reduced interest rates for houses up to Rs 30 lakh.
Urban [...]

“Saving Tax” on your income is always a spot of interest for each one of us and why not when there is a legal way?
Saving Tax is easier under Indian Income Tax Act if one opts for the home loan. There are two sections of Indian Income Tax which allow you to avail this [...]

PERSONAL TAX RATES
For individuals, HUF, Association of Persons (AOP) and Body of individuals (BOI):
For the Assessment Year 2008-09
Taxable income slab (Rs.)
Up to 1,50,000      NIL
Up to 1,80,000 (for women) NIL
Up to 2,25,000 (for resident individual of 65 years or above)     NIL
1,50,000 – 3,00,000     10%
3,00,001 – 5,00,000     20%
5,000,001 upwards     30%*
*A surcharge of [...]

India Budget 2008 will be announced on 29th February 2008.
The main problem of the Finance Minister is the low revenue which have been decelerating the customs revenue growth. Moreover, the excise revenue also gets low. Therefore, while making the budget the Finance Minister will obviously be focusing on better mobilization of earnings through direct [...]

Income tax slab for financial year 2007-2008 assessment year 20008-2009
Taxable income slab (Rs.) Rate (%)
1,10,000 ( for Individual)NIL1,45,000 (for women)NIL1,85,000 (for senior citizens) NIL
Individuals-other than senior citizens and ladies

Up to 110000- No Tax
110001 to 150000-10%
150001to250000-20%
250001and above-30%
—————————————————————————————
Ladies other than Senior Citizens
Up to 145000-No Tax
145001 to 150000-10%
150001to250000-20%
250001and above-30%
—————————————————————————————-
Senior Citizens
Up to 195000-No tax
195001to250000-20%
250001and above-30%
Investment u/s 80C eligible [...]

After assessing your tax liability, the next step is tax planning for Save Tax. It involves selecting the right tax saving instruments and making investments accordingly.
Deductions from Taxable Income:
Deduction under section 80C
This new section has been introduced from the Financial Year 2005-06.
Under this section, a deduction of up to Rs. 1,00,000 is allowed from [...]

As per finance ministry official, who said in a Tax Conference that India is likely to keep income tax rates moderate to boost revenues but may tighten scrutiny to prevent evasion, a Finance Ministry official said on Thursday.
“We can’t have marginal rates (of income tax) that are too high,” said Parthasarathy Shome, an advisor [...]