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Tax Planning

Clubbing Income of Spouse – A Practical Approach

November 24, 2009

A lot of misunderstanding persists among the taxpayers about the clubbing of income and pattern of clubbing of income. There is a chance of cut the tax burden by circulating the income to various family members. To control such practices, certain provisions have been made for clubbing of income of wife, son’s wife and minor [...]

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Save Maximum Tax on Salary by Simple Salary Framework

July 3, 2009

A salary framework that be capable cur back you taxes.
As It must be obvious by now, drawing a straightforward salary will result in the maximum tax liability for an individual. To save taxes, it is important to consideration in other components of compensation, that force benefit in saving taxes.
So next time you negotiate your compensation [...]

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Receive a Gift From Relatives? No tax

March 29, 2009

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 [...]

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

March 20, 2009

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 [...]

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Tax Planning with Home Loan

February 15, 2009

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 [...]

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