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Receive a Gift From Relatives? No tax

you can receive any amount from your relatives without paying any income tax as there is no gift-tax at present. There are certain provisions and important points which we will discuss in this post. Gift can be received by the following ways. From RelativesRelative means: Spouse Brother or sister Brother or sister of the spouse Brother or sister of either of the parents of the individual Any lineal ascendant or descendent(A lineal descendant is a .....

Deduction u/s 80G | Tax Deduction for Donations made to Charities

Can individuals claim tax deduction for donations made to charities? Yes, individuals can claim tax benefits on ‘eligible’ donations made to charities. Deductions are available under Section 80G to any taxpayer i.e. individual – resident and non-resident, firm, HUF and company. All donations are not eligible for tax benefits. Tax benefits can be claimed only on specific donations i.e. those made to prescribed funds and institutions. Are all donation made u/s 80G equal deduction?No Under .....

Jeevan Varsha | Jeevan Varsha Benefits | Jeevan Varsha Features

The Life Insurance Corporation (LIC) has launched Jeevan Varsha, a close-ended guaranteed additions plan, which is open for sale from February 16 to March 31. It is a ‘money back plan’ with only two policy terms of 9 years and 12 years. The survival benefits are payable every three years. Any person who has completed 15 years can buy the policy. The maximum age at maturity will be 75 years. The plan has provisions for .....

Tax Planning with Home Loan

Is Tax planning is legal? Yes, It is legal and it is your right to plan tax legally and i am here to plan your tax legally. Tax planning, a legitimate exercise, should not be confused with taxavoidance or tax evasion. Good tax planning comprises tax compliance and availing proper tax benefits, coupled with proper analysis of the financial implications of a decision. There are many situations that demand a proper understanding of, and approach .....

LIC Jeevan Aastha

In today’s global recession, investors are looking for fixed returns which has no risk at all. So Life Insurance Corporation of India (LIC) has launched jeevan Aashta to get benefit of this recession. LIC has managed to sell more than 3 lakh Jeevan Aastha policies across the country from its launch on December 8. Celebrities Sachin Tendulkar and Akshay Kumar have put in Rs 18 crore and Rs 10 crore respectively into this product published .....

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