How to claim Income Tax Benefits on Second Home Loan?

How to claim Income Tax Benefits on Second Home Loan

How to claim Income Tax Benefits on Second Home Loan? I always look for various ways to save tax as per the income tax act. My 80C is tax benefits are exhausted, interest on housing loan for self-occupied is claimed, etc., I fall in the 30 % tax bracket. I was looking other avenues to save tax. Another avenue where I am currently looking is to save tax through second housing loan tax benefits. What are the housing loan tax […]

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Does Indo-Mauritius Double taxation amendments effect Indian stock markets?

Does Indo-Mauritius Double taxation amendments effect Indian stock markets

Does Indo-Mauritius Double taxation amendments effect Indian stock markets? Sell, Sell, Sell !!! this is what some of the investors spreading rumors in the stock market when Indo-Mauritius double taxation agreement amendments suggested couple of days back. The center has handled it in an efficient way on making changes to Indo-Mauritius agreement where stock markets had fallen 1% on Wed. What are the amendments to Indo-Mauritius double taxation agreement? How does it impact investors of Mauritius? Does it affect Indian stock […]

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How to show interest on NSC in Income Tax Return?

showing interest on NSC in Income Tax Return

How to show interest on NSC in Income Tax Return? One of the best ways to save income tax u/s 80C is investing in National Saving Certificates. NSC can be purchased from the post office, which has 5 years tenure. While you can claim this amount from 80C exemption, interest from NSC is taxable. It needs to be shown as taxable income while filing income tax return. However, there is a lot of confusion about how to show NSC interest […]

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What are the tax liabilities on selling commercial or residential properties?

tax liabilities on selling commercial or residential properties

What are the tax liabilities on selling commercial or residential properties? Many investors invest in real estate properties like commercial properties, residential houses or plots for 10 to 20 years and sell them to either to create retirement wealth or for child education or daughter marriage. However, there could be tax liabilities arising from buying and selling these commercial or residential properties. If you are not aware of them, you may be caught by the Tax Ombudsman and you may […]

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How to efile Income Tax Return without Form 16?

efile Income Tax Return without Form 16

How to efile Income Tax Return without Form 16? Almost, all of us would agree to the fact that we have to know the basics about how to do filing of income tax returns. If you are employee, to file tax returns, you need form-16. However, there are several cases where Form-16 would not be available. In such case, one would face a big challenge in doing efiling of income tax returns. How to efile Income Tax Return without Form […]

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How to save income tax on long term capital gains?

How to save income tax on long term capital gains in India

How to save income tax on long term capital gains in India? During one’s lifetime, every individual sell and purchase many assets. However, when the assets change the ownership, it is obvious that some profit or loss would arise. At the time of sale of any asset, the gain that arises is a liable to be considered as a taxable income. It can be categorized either as a short-term capital gain or long-term capital gain depending on the duration the […]

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