Complete Guide on Service Tax Service tax is a tax payable on services provided by the service provider. Similar to excise obligation, which is payable on goods fabricated, service tax is payable on the services provided. Service tax is payable… Read more
Category: Income Tax
Complete Guide on TDS
Complete Guide on TDS Some investors still seem to be baffled by the concept of TDS (Tax Deducted at source) and its relation to taxation. Though a very simple concept, the investors get confused if TDS is nicked from their… Read more
Gilt is like gold
Which is the highest rated debt paper in the world? Well it is AAA. However a country does not get its debt paper rated. When I ask my class ‘why does a country not get its debt rated?’ I normally… Read more
What If You Can’t Pay the Taxes You Owe?
You have just finished preparing your tax return and notice that you owe Uncle Sam a hefty sum, but you can’t afford to pay it. Are you going to jail? Probably not. The realization that you can’t afford to pay… Read more
Income from MF investments must be shown in income tax returns
One of the concerns of investors in various instruments including mutual funds is the tax impact of their process of investing and how this needs to be disclosed. There is more worry when they find that there is no space… Read more
Taxation – impact on your investment
Many people underestimate the hurt that taxation causes to their investment. Let us take an example. If you invested Rs. 100,000 in a RBI bond which pays 8% p.a. before taxes, you will get Rs. 8000 as interest and assume… Read more
Taxation: Progressive or Regressive?
Indian elite (with whom I deal) is an amazing lot. I frankly do not know about people in other countries, so let me speak for Indians alone. We like to complain about – poor service of trains, poor roads, corruption,… Read more
Paying taxes Honestly?
Most people I know pay taxes and also file tax returns. However to say that they file taxes honestly is a little difficult to say. As a social psychologist if you do analyze why people do not pay taxes, the… Read more
Decoding the Direct Tax Code
All insurance plans will become taxable – this is terrible news for life insurance policy holders. How capital gains will be calculated will be a major issue. The cap gains calculation will have to be done by the life insurance… Read more
Income Tax bonds: For tax deduction
The Central Government have specified bonds to be issued by (i) Industrial Finance Corporation of India;( IFCI ) (ii) Life Insurance Corporation of India; (L I C) (iii) Infrastructure Development Finance Company Limited; and ( I D F C) (iv)… Read more