What mistakes do people make when filing their IT returns? Many of those who have to file their returns for the first time or those doing it at the last moment can end up making some critical mistakes. Here are the most common ones and how to avoid them.
Are the new tax slabs right for you? The good thing is that the Government has left the decision of which method to pick for tax calculation, to you. You decide whether you want the lower tax rates or more exemptions and deductions.
NRI’s Complete guide to taxes while selling property in India Tax and regulations relating to the selling of house property in India are different for NRIs as compared to that of an Indian resident.
When do you really need a CA to file your taxes? There are situations where you need a CA and there are situations where you don't. Find out what these are.
Is interest from deposits and bonds taxable? While you choose long term bonds issued by corporate entities or the Government for your long-term regular income, do you know that the interest you receive from some of these is also taxable?
Is tax deductible the same as tax exempt? It sounds similar since both can mean that you don’t pay tax and hence, you save tax, however, there is a difference in tax deduction versus tax free or tax exemption.
Does all long-term capital gains tax come with indexation? Indexation benefit is not applicable to all long-term capital gains and you must know the nuances in order to file your taxes accurately.
What should you know about taxation as an NRI mutual fund investor? As an NRI, you might be keen to capitalize on investment opportunities back home. By becoming aware of the tax nuances, you can also get the best value for your investments.
How to assess how much tax you will need to pay on your mutual fund withdrawals? No tax is deducted at source by the mutual funds for capital gains and investor is therefore liable to pay taxes, if any. Knowing how to go about paying these taxes can make your life a lot less complicated.
Tax treatment of your debt fund capital gains Earnings from debt funds can come either in the form of dividends or capital gains or even both. While dividends are tax free after you have received them, capital gains are taxed post being realised. Here is how you add the capital gains to your tax return filing.
How debt mutual funds can help with better tax planning Debt funds are useful in creating that part of your investment portfolio where you are looking for stable returns with low risk. Typically, this is filled with bank deposits, however, if used wisely debt funds can not only deliver better returns but also more tax efficient returns.
