Prajna Capital |
| Posted: 04 Dec 2012 04:02 AM PST Once there is a certain amount that has been determined to be income this means that the amount here is not a receipt that is usually capital in nature. For example if there is a loan taken from a bank then this will reflect as an inflow of money for the individual but this is not income but is a receipt that has to be repaid back to the bank. This is also not an amount that is earned by the receiver but is just a figure that has been given for some time with the cost coming in the form of interest and hence is repayable. The first work for the individual is to see whether an amount received is actually income or not. If this is a capital receipt and is not considered as income then the matter ends there but once it is classified as income then the next step comes into picture.
This involves seeing whether the income is taxable. When there is a taxable income it means that the amount that is received has to be considered for the purpose of calculation of the tax on the amount earned. All the amounts that are taxable are to be added together and then they would be totalled up to see the total income earned and the various deductions would be reduced from this figure.
Salary for example is a taxable income so the total amount that is earned as salary would be taken along with the other taxable income like interest or house rent or capital gains. From this figure the various deductions for specified investments and other areas are reduced and the net figure will be checked for the amount of tax that has to be actually paid. Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )
Happy Investing!!
We can help. Call 0 94 8300 8300 (India)
Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com --------------------------------------------- Invest Mutual Funds Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Best Performing Mutual Funds
Invest in Tax Saving Mutual Funds Download Any Application Forms Buy Mutual Funds Online Invest Online Buy Gold Mutual Funds Invest Now  |
| Deutsche MF Change of plan name - DWS income advantage Posted: 04 Dec 2012 03:32 AM PST Deutsche Mutual Fund has announced the change in name of DWS money plus advantage to DWS income advantage with effect from November 26. Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )
Happy Investing!!
We can help. Call 0 94 8300 8300 (India)
Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com --------------------------------------------- Invest Mutual Funds Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Best Performing Mutual Funds
Invest in Tax Saving Mutual Funds Download Any Application Forms Buy Mutual Funds Online Invest Online Buy Gold Mutual Funds Invest Now  |
| Posted: 04 Dec 2012 02:04 AM PST This section is not applciable for 2012 - 2013 A new Section 80CCF has been inserted in the Finance Bill 2010-11, which provides an additional deduction of Rs 20,000 to investors for investing in infrastructure bonds issued by notified organisations.
This deduction is over and above the Rs 100,000 deduction available under Section 80C. In the latest tranche, infrastructure bonds offer an attractive interest rate of about 8% to investors with a minimum lock-in period of five years. Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )
Happy Investing!!
We can help. Call 0 94 8300 8300 (India)
Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com --------------------------------------------- Invest Mutual Funds Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Best Performing Mutual Funds
Invest in Tax Saving Mutual Funds Download Any Application Forms Buy Mutual Funds Online Invest Online Buy Gold Mutual Funds Invest Now  |
| You are subscribed to email updates from Prajna Capital - An Investment Guide To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
No comments:
Post a Comment