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We ensure that you
get as much tax-free income as possible. For example
income received from Life Insurance Mutual Funds (ULIPs)
is exempt from any Income Tax u/s 10(10D) of the Income
Tax Act, 1961; whereas income from NSC or Bank Fixed
Deposits is subject to Tax. An investment of INR 1 Lac
for 3 consecutive years will return INR 24 lacs in 20th
year @12% p.a. By default 8 Lacs would be Income Tax
on these 24 lacs. Since our aim is also to save these
8 lacs, we would recommend investment in such flexi
products and save 8 lacs from investment of 3 years
* 1 lac only. However, since each individuals’
requirements vary, we would provide customized solutions
suitable to you. |
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| We have 5 heads of Income Tax as per the
Income Tax Act, 1961. |
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Income from Salary (TDS
deducted & Form 16 provided by employers) |
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Income from House Property (+ve
if Rent received & -ve if Home Loan taken) |
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Income from Capital Gains (Long
Term & Short Term) |
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Income
from Business or Profession (Balance Sheet, Profit
Loss a/c are prepared) |
5. |
Income from Other Sources
(NSC, Bank Fixed Deposits, Winning from Lottery,
etc) |
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All above incomes
are added to arrive at Gross Total Income. Your investments
u/s 80 C upto INR 1 Lac (ULIP, PPF, NSC) 80 D upto INR
10 K (Health & Medical) and other applicable sections
is reduced to arrive at Total Income. Your tax is calculated
as per prevailing tax slabs. In case of any excess deduction
of tax you apply for refund or for shortfall of TDS
you pay additional tax or for same tax, you simply fill-in
Saral form. PAN is mandatory to file your ITR, else
apply for PAN by Form 49A. Visit download sections to
get these forms. Contact us for more information or
no obligation discussions on your requirements. |
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