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7.75% Savings Bonds Scheme Opens For Subscription From January 10, 2018

Narendra Modi led government today officially announced the launch of new savings taxable bonds scheme with 7.75% return rate. The new scheme with reduced return finds interest among risk-averse investor class as it features sovereign rating. Investors can subscribe for ...

CBDT Notifies New Provision On TDS On Rent Payment

The existing tax laws required any individual using any land or building premises of the resident individual and paying a sum over Rs. 1,80,000 in a financial year to withhold tax at the rate of 10%. But the exclusion in ...

How to Determine Residential Status of HUF for Income Tax Purpose?

To file Income Tax for Hindu Undivided Family (HUF), firstly one needs to determine the residential status of a HUF. The first step is to ascertain whether the HUF is resident or a non-resident. If the HUF turns to be ...

10 Must Know Facts on Hindu Undivided Family (HUF) and How Tax Laws Apply

Hindu Undivided Family (HUF) is a term not used under the provisions of the Income Tax Act. HUF is a family with husband, wife and children. If children and their spouses are living together, then it applies to them as well. ...

Few ways to lower your tax liability

Every year taxpayers in a bid to reduce their tax liability invest in certain tax-saving investments or show expenses that allow them deductions to a certain extent. However, apart from these known ways, there are few other methods which can ...

Deductions allowed to self-employed individuals for taxation

Self-employed individuals for their tax computation purposes are allowed few of the deductions under the Indian Income Tax Act which can hence reduce their total taxable income by the same proportion. The allowed or permissible deductions are follows: a) Rent, ...

Inflation Indexed bonds-Key features

Inflation Indexed National Savings Securities-Cumulative (IINSS-C) bonds linked to CPI or consumer price inflation index as announced by the RBI shall be launched in the second half of December for retail investors. Here is a look at some of its ...

How to reduce your tax liability through HUF?

HUF stands for Hindu Undivided family, governed under Hindu law board and could be formed by a married couple or by members of a joint family. HUF could be formed by two members, at least one among whom should be ...

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