New Income Tax Slabs

In the union budget for financial year 2009-10, the Finance Minister has announced new tax slabs. General Till 1,60,000 – 0% 1,60,001 – 3,...

Balance Sheet, Cash Flow Statement and Saving Tax

The balance sheet is one of the key financial statements of a company and is of particular interest to an existing or prospective shareholde...

No proof required for LTA & Conveyance allowance claims

In a landmark ruling, the Supreme Court has said that employers are not under any statutory obligation to collect supporting evidence and fu...

Advantages of investing in Real-estate

Investing in real-estate, or more specifically, on a house or flat, is something that interests the salaried class very much. Though the sce...

How to increase your take home salary?

When cost of living skyrockets, smart ways to plan one’s pay packet to reduce his tax outgo and maximize his take home salary becomes releva...

Seven things you should know about LTA (Leave Travel Allowance)

LTA can be availed twice in a block of 4 years. The block is defined by the government. The current block is 2006 – 2009 and is based on cal...

New Tax Slabs

In the union budget for financial year 2008-09, the Finance Minister has announced the new tax slabs. General Till 1,50,000 – 0% 1,50,000 ...

Income tax may come down in India

Riding on a buoyant economy and making the most out of it with respect to direct taxes, the revenue department may consider reviewing direct...