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Tax

Income Tax Calculator for FY 2013-14 [Excel Download]

Income tax rates are one thing which every common man is worried about. The finance minister, P Chidambaram in his Budget 2013-14 kept the income tax rates unchanged. The table below shows the summary of tax slabs for FY 2013-14. There are two minor changes: Super rich have to pay more taxes. A surcharge of [...]

Best Tax Saving Mutual Fund ELSS Fund to invest in 2011-12

Best Tax Saving Mutual Fund / ELSS Fund to invest in 2012-13

ELSS (Equity Linked Saving Scheme) also popularly known as Tax Saving Mutual Funds are one of the best investments you can do to save tax and create wealth in the long run. But unfortunately according to the proposed direct tax code ELSS would be a thing of past and it would no more be eligible as tax saving instrument under section 80C of Income tax. Nevertheless Financial [...]

Long Term VS Short Term Capital Gains for Equity, Debt, Gold & Real Estate

We all invest in equity, debt, gold, & real estate according to our risk profile and time horizon. The gains from these investments are treated as capital gains and are taxed differently. As tax liability impacts your net returns, so it’s imperative that you should know about them. Capital gains are classified as long term [...]

Parking Short Term Money – Bank Fixed Deposit or Liquid Fund or Savings bank Account?

There are times when you are very close to your financial goal and want to park your money for short term somewhere where it’s safe, it can easily be withdrawn and in the meantime get some reasonable returns. Here I am considering short term as less than 1 year investment horizon. There are three options [...]

Personal Finance: Changes from April 2012

With start of new financial year 2012-13, a lot would change from today in personal finance space. Here is the list. Good News: Increased Interest on Small Savings Scheme like PPF, NSC, etc: The government has increased interest rates on post office deposits like PPF, NSC, Fixed Deposit, Recurring Deposit, and Senior citizen Scheme in [...]

Income tax 2012-13 calculator excel sheet

Income Tax Calculator for FY 2012-13 (Excel Download)

If you are wondering how much Income tax you would you save in next year 2012-13 post Budget 2012, here is a calculator for you in excel format. Below is the Income Tax Slab for FY 2012-13. A significant difference is there is no more distinction between men and women as far as taxes are concerned. Word of [...]

Best Tax Saving Mutual Fund / ELSS Fund to invest in 2011-12

ELSS (Equity Linked Saving Scheme) also popularly known as Tax Saving Mutual Funds are one of the best investments you can do to save tax and create wealth in the long run. But unfortunately according to the proposed direct tax code ELSS would be a thing of past and it would no more be eligible as [...]

National Housing Bank (NHB) Tax Saving Term Deposit Scheme

National Housing Bank (NHB) is a statutory organization that was established on July 9, 1988. It is the apex level financial institution for the housing sector in the country and a wholly owned subsidiary of the Reserve Bank of India. NHB SUVRIDDHI (Tax Saving) Term Deposit Scheme: It is a tax saving deposit scheme for [...]

Income tax 2011-12 calculator excel sheet

Income Tax Calculator for FY 2011-12 (Excel Download)

If you are still wondering how much Income tax you need to pay this year 2011-12, here is a calculator for you in excel format. Below is the Income Tax Slab for FY 2011-12. Word of Cautions for using the Excel sheet: Only Orange Cells are input cells. Do not change any other cells as [...]

Which Tax Saving Fund / ELSS Fund to invest?

It’s the time of the year when companies start asking employees to submit their proofs for investments for tax saving. And all of a sudden you realize you haven’t actually even thought about it. What follow is chaos & wrong investments. The storey is almost at this stage for one of my colleagues. We need [...]

Opprtunity to invest less and save more Taxes – Sundaram Taxsaver Fund

Today Economic Times has a big advertisement of Sundaram BNP Paribas Taxsaver declaring dividend of 20% i.e. Rs 2 per unit. The payout date is 29th January 2010. As this is a good ELSS Fund and I have also recommended it in my previous posts. So people looking for Dividend Payout or Reinvestment option can [...]

Invest Less Save more tax by using Dividend Reinvestment for ELSS (Tax Saving Fund)

The “Investments for Tax Saving” Season is on and this post is in continuation with the previous few posts on ELSS (Tax Saving Funds). In one of the post I had said that you should either go for Growth or Dividend Payout Option but never with Dividend reinvestment option while investing in an ELSS. But [...]

Best Tax Saving/ ELSS Funds by Dividend Payout

In the recent few posts I wrote about the best ELSS funds to invest and then about how you can invest less and save more tax by opting for Dividend Payout option of Tax Saving Funds. In continuation with the same I have compiled the dividend payout history for last 5 financial years of some [...]