Income Tax Archives - PankajBatra.com

Income Tax Calculator

Pankaj Batra — Mon, 04 Feb 2019 06:02:04 +0000

The Excel-based Income Tax Calculator serves to compute taxes on various sources of income including salary, pension, gifts, fixed deposits, bank interest, house rent, and capital gains (both short and long-term). New Tax Regime Scheme (Section 115 BAC)- Income Tax rates for the financial year 2023-24/ 2024-25 For Everyone Upto Rs. 3,00,000 Nil Rs. 3,00,001 […]

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Open Letter to Narendra Modi

Pankaj Batra — Wed, 21 Dec 2016 04:15:08 +0000

Respected sir, Before anything else, I’d like to thank and congratulate you on furthering the Swachh Bharat Abhiyan with the master stroke of cleaning the black money menace. It is a very good exercise and will eliminate the existing black money to a great extent. While all noble ideas emerge from our mann (heart), it […]

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Income Tax E-filing and its benefits

Pankaj Batra — Thu, 23 Jun 2011 00:06:19 +0000

What is E-Preparation of Income Tax Return? E-Preparation of IT Return is the process of preparing your Income Tax Return using a software. The E-Preparation software can be of 2 types: A. Manual Calculation: Those that allow you to enter your Income Tax data but do not calculate the Income Tax & Refund etc. The […]

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Direct Tax Code (DTC): Highlights and Impact

Shantanu Rastogi — Wed, 01 Sep 2010 13:55:23 +0000

The New Direct Tax Code (DTC) is said to replace the existing Income Tax Act of 1961 in India. DTC bill was tabled in parliament on 3oth August, 2010. There are big changes now in monsoon session and There are now much less benefits as compared to what were in the original proposal. During the […]

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How to Save Long Term Capital Gains Tax (LTCG)

Shantanu Rastogi — Sat, 06 Mar 2010 04:33:26 +0000

Buying and Selling of Property, Plots, Flats, Land, Independent Houses, Floors or any other form of residential property is a frequent activity in present scenario. Especially with so much activity in the real estate sector, it has been considered to have given good returns. The attractive home loan schemes have made it even more lucrative. […]

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File Income Tax Return Online

Pankaj Batra — Sat, 27 Jun 2009 17:44:05 +0000

Easy steps on how you can file income tax return yourself online, Also use income tax calculator, download income tax forms, check tax rates, refund status, rebate, deductions

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Check TDS deduction, income tax refund Online

Pankaj Batra — Wed, 24 Jun 2009 20:07:52 +0000

See how much tax has been deposited on your name from your employer as TDS.

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No need to submit LTA proofs to employer

Pankaj Batra — Thu, 29 Jan 2009 06:00:47 +0000

From now on, Employee will not have to submit proofs as evidence, to their employers for getting LTA (leave travel allowance) reimbursement. Supreme court of India gave ruling that employers, while reimbursing LTA claims of their employees, are under no statutory obligation to collect evidence and provide them to tax authorities. As per Income tax […]

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Best Income Tax Saving Mutual Funds

Pankaj Batra — Thu, 04 Sep 2008 19:28:15 +0000

I compared ELSS (Equity Linked Saving Scheme) mutual funds on the basis of their AUM (assets under management) size and past performance in 6 months, 1 year, 2 years and 3 years. Finally following funds were found to be good. Canara Robeco Equity Tax Saver, Sundaram BNP Paribas Taxsaver, HDFC Taxsaver, SBI Magnum Tax Gain […]

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Leave encashment non taxable

Pankaj Batra — Wed, 06 Aug 2008 19:06:17 +0000

As per section 10(10AA) of income tax in india, leave encashment amount received by employee by a previous employer in full and final statement, is non-taxable. So If you have changed a job in financial year and received leave encashment for the remaining earned leaves (ELs) Just deduct the amount from total income and compute […]

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