10 tax-planning tips to make your investment rupee go further

10 tax-planning tips to make your investment rupee go further

Do not skip checking the conditions that are attached to most deductions. Used prudently, deductions can ensure a large tax free income, says Anil Rego All investments proposed or made are analysed based on the returns. Ideally these would factor for the risk as investors are rightly concerned about safety and return on capital invested than just the returns on their capital. An aspect that is commonly ignored in the quest for higher gain is the effect of taxes on the returns earned. Post tax returns are the final and…

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Last minute Tax Planning guide

Last minute Tax Planning guide

guest: Hello Sir,in my Form 16 I show Rs.150000/- deposited in ELSS fund but actually I deposited Rs.150000/- in my PPF account , is it make any punishment if I file return and get 80C deduction? please must answer. Anil Rego: First you have to confirm the assessment year. if it is for FY2016-17 then , you can ask the concerned department for rectification. if it is for FY2015-16 , then already form 16 would have been generated and further rectification is not possible. if scrutiny comes, explanation should be…

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ITR-4S – As a small business owner, are you checking all the right boxes?

ITR-4S – As a small business owner, are you checking all the right boxes?

So what’s the small business man doing about his taxes? Let’s take a look. Over the years there has been a steady rise in the number or ITR forms filed. While we see a consistent increase in the forms across different categories there has been a sharp and steep increase in the number of ITR-4S Sugam forms. While we peek into those reasons a little later, let us first understand who are the individuals or businesses who file the ITR -4? An ITR-4 can be used by individuals or HUFs…

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