Today on 10th July 2014, union budget has been introduced in parliament by our finance minister Mr. Arun jaitely. Below in this article we have highlighted major changes that are proposed in this budget in income tax, services and other indirect tax laws. Highlights of major changes in Income tax Basic exemption limit below which individuals are not liable to pay tax … [Read more...] about Proposed major changes to tax laws in budget 2014
What is GST or Goods and Service tax in India ? How GST will reduce your tax burden?
Goods and services tax or popularly known as GST, is a part of the proposed tax reform which central government is trying to implement in India. At present, we have multiple indirect taxes levied by both central and state government. Goods and Service Tax will help us in reducing the average tax burden on companies and consumers by replacing all these indirect taxes that are … [Read more...] about What is GST or Goods and Service tax in India ? How GST will reduce your tax burden?
What is Portuguese civil code in income tax return form or ITR forms
From assessment year 2013-2014 onwards you are required to fill out a column “are you governed by Portuguese civil code” with your answer as yes or no. Without answering this question, the ITR form fill not allow you to proceed. Same thing is required for assessment year 2014-2015 income tax return forms. In this article we will let you know income tax provisions for … [Read more...] about What is Portuguese civil code in income tax return form or ITR forms
Best available SAP books to prepare for interview and to learn SAP FICO
Beginners and students preparing for interview and project often asked about SAP FICO books that they should refer to become a SAP FICO consultant. Below in this article you will find SAP FICO books that are most relevant in understanding concepts of the FI and controling module and can help you in preparation of interviews and projects. Here is the list of best SAP FICO … [Read more...] about Best available SAP books to prepare for interview and to learn SAP FICO
Best selling personal finance books to read
Personal finance is the most important thing that every one of us should learn for financial independence. There are great authors who have written wonderful personal finance books to guide us about money and how to make more money. In our previous article we have listed 5 best investment books for beginners to start investing in stock market. In this article we have … [Read more...] about Best selling personal finance books to read
How to file income tax return for a deceased person
In case of a deceased person, the spouse or the legal heirs of the deceased person can file income tax return for the financial year. Income tax computation and procedure of filling income tax return will be same as it’s normally applicable to a person who is alive. In this article you will come to know those extra measures that are required for filling income tax return for … [Read more...] about How to file income tax return for a deceased person
5 best investing books for young investors
Investing in the stock market is considered as one of the most effective ways to grow your personal wealth in order to reach your long-term financial goals. If you are not sure where to start when it comes to stock market investing, then you can read the best stock market books available in the market to start with. There are many investing books available in market to help … [Read more...] about 5 best investing books for young investors
What is black money – Certain Amendments in Tax Laws to report Black Money
Today, in this article we will explain you what is black money, how our tax law has been amended to report black money. We do not have a uniform definition for black money. However, black money can be defined as a fund which has been incurred from black market and on which taxes are not paid to government i.e. it has never been reported to the public or tax … [Read more...] about What is black money – Certain Amendments in Tax Laws to report Black Money
Tax deduction for a sole proprietor business man in India – For AY 2014-2015
Sole proprietor business means a business entity which is run by one individual and for which there is no difference between the owner and business. Sole proprietor is also called a self employed person or an individual. IT act offers various tax deductions for a sole proprietor or self employed person. If you are a self employed person or sole proprietor then you can take … [Read more...] about Tax deduction for a sole proprietor business man in India – For AY 2014-2015
Income Tax deductions or benefits for a disabled person
Disabled persons are allowed certain tax benefits as per the present tax laws of the country. Below in this article we have mentioned few benefits that are available specifically to a disabled person. Deduction for Specified Diseases – Section 80U An individual being a disabled person with specified diseases can take benefits of section 80U. To claim tax deduction the person … [Read more...] about Income Tax deductions or benefits for a disabled person