The present article is framed, presenting an overall idea on the income earned from house property. There are basically 2 types of income relating to it, (A) rental income (B) capital gain arising from selling out the property. Taxation of rental income Income from house property is the only income charged to tax on notional [...]

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Section 80C and section 80CCF are the two sections under income tax act, allowing tax benefit to investors. Investing in tax saving instruments under Sec 80C can help you save taxes up to Rs. 1lakh.  Whereas, further tax benefit of Rs. 20,000 can be availed by investing in infrastructure bonds and claim deduction under Sec [...]

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Fixed income securities are gaining popularity and are a vital part of one’s portfolio. They provide regular income on periodic basis on investments made by investor and the principal amount being repaid at the time of maturity. Choosing any fixed income security is also depended on the risk capability of any individual. Besides this, careful [...]

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Wealth tax being a direct tax is imposed at the rate of 1% on the net assets over and above Rs. 15 lakh. Whereas, filing wealth tax return date is very much common to that of filing income tax return. The wealth tax is filed in form “BA” and has to be submitted on relevant [...]

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Wealth tax came in to force on 1st April, 1957. In simple words wealth tax is a form of direct tax imposed on individuals coming in its orbit. It’s very much similar to income tax and has to be paid every year.  Wealth tax is actually imposed on the aggregate market value of the property, [...]

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