The Income Tax Act of India has five heads of income, of which “Income from House Property” is one of them. In order to calculate the income from house property, one needs to know the annual value of the property. The annual value of a house property is the basis to calculate income under thisRead More
Section 80C Deductions to Save Income Tax
This article explains how the income tax Section 80c deductions of the Income Tax (IT) Act can help reduce your income tax liability in your yearly financial planning. Though most of us use some of the deductions under Section 80C each year, we might be doing so unknowingly. Read on to understand what are theRead More
5 Heads of Income – Indian Income Tax Act
Income is classified under five heads in the Indian Income Tax Act. Each year, you or your qualified chartered accountant is expected to put all your earnings or incomes under these 5 heads of income for calculating tax. Here is a small primer of what these 5 heads of income mean and what all theyRead More
Queries on life insurance answered
Here are some common life insurance queries that investors from India have. This is part of a series of common doubts investors have on life insurance policies. Today’s questions relate to how much life insurance a person can take; whether it is valid outside India; will claims be allowed if premium is unpaid; can theRead More
Long Term and Short Term Capital Gains
Capital Gains is an often heard term in the Indian income tax world. Here is a preliminary article on what the terminology means and what Long term and short term capital gains are. Capital gains arises only when a capital asset is transferred. So if the asset transferred is not a capital asset, it will notRead More
Go online for the best and cheapest term insurance plans in India
Blame it on technology. Many insurance agents are ducking for cover as term insurance plans go online in India resulting in cheaper premiums for the customer. Life insurers have become more innovative as the years have gone by and launched best and cheapest term life insurance policies keeping the customer’s wallet in mind. The greatRead More