Tuesday, June 16, 2009
Tax changes unlikely
Rumours and / or apprehensions of any increase in direct taxes to stem Infrastructure growth seem unnecessary according to this article in the Times of India.
Monday, June 15, 2009
Union Budget on July 6
As per this artcile by NDTV, our Union Budget is scheduled for a July 6 presentation
Wednesday, May 27, 2009
New budget in July
It seems the new Financial Budget will be presented by Pranab Mukherjee in the first week on July. This is reported on all channels today and the article can be read here.
Thursday, May 14, 2009
Indian Income Tax Calculator for the FY2009-10
Please bookmark this site or the target URL to use the latest version.
The default parameters are set for a male, salaried employee working in Bangalore. In case you find any discrepancies and/or if you have any suggestions, please leave a coment on this blog.
Saturday, September 13, 2008
Loan Calculator cum Planner
Click here or on the image above to download the Loan Calculator Cum Planner for the Indian market.
Please bookmark the target page for the latest version of the Calculator as and when it is ready.
This is ideal for Home Loan calculations.
This calculator is meant for monthly rests, taking care of fixed as well as floating interest rates, in addition to changes in rate of interest and even part-payment of Principal.
Saturday, August 2, 2008
e-filing... was this useful???
I started thinking of this only on July 31 when one of my friends was prepared to pay the interest for overshooting the July 31, 2008 timeline of filing the returns. He was relaxed until then and only on July 31 (at about 8 PM) did he realize that he should have filed it by today... His major problem was that he even had to pay Self Assessment Tax.
I could see the beauty of e-filing only now. It took all about 30 minutes to complete the returns through the Skorydov website. Of course NSDL also provides the option to submit Self Assessment Tax online and these together ensured that my friend could complete his returns online by July 31, 2008 although office hours were long completed.
In retrospect, I also filed through the same site and I also finished the same in about 15 minutes flat, which is great considering that I took about 2 hours to fill the returns form two years ago in addition to which I had to endure wrong calculations and finally had to submit a revised form "after" the due date at that time. The Skorydov site greatly helps in this area since it does ask the individual to search as to which ITR he/she needs to fill. It has a set of questions based on which the software gives you easy to fill fields which can be directly extracted from Form-16 etc. In all, I must say that the Skorydov software is excellent and easy to use.
Being a IT professional, e-filing this year has helped me save a lot of time in terms of both having to sit with a CA and file the returns as well as to run behind them to ensure that the returns are filed and done correctly... since at the end of the day, the IT Department does not crucify the CA but me if the returns were not calculated correctly.
I could see the beauty of e-filing only now. It took all about 30 minutes to complete the returns through the Skorydov website. Of course NSDL also provides the option to submit Self Assessment Tax online and these together ensured that my friend could complete his returns online by July 31, 2008 although office hours were long completed.
In retrospect, I also filed through the same site and I also finished the same in about 15 minutes flat, which is great considering that I took about 2 hours to fill the returns form two years ago in addition to which I had to endure wrong calculations and finally had to submit a revised form "after" the due date at that time. The Skorydov site greatly helps in this area since it does ask the individual to search as to which ITR he/she needs to fill. It has a set of questions based on which the software gives you easy to fill fields which can be directly extracted from Form-16 etc. In all, I must say that the Skorydov software is excellent and easy to use.
Being a IT professional, e-filing this year has helped me save a lot of time in terms of both having to sit with a CA and file the returns as well as to run behind them to ensure that the returns are filed and done correctly... since at the end of the day, the IT Department does not crucify the CA but me if the returns were not calculated correctly.
Tuesday, July 29, 2008
All about applying for and tracking PAN
Application:
Read the instructions at https://tin.tin.nsdl.com/pan/form49A.html. At the bottom of the page, select the proper category and click Select.
AO Code:
You need to mention AO code on your PAN application. For information on AO code, http://tin.nsdl.com/aocode.asp.
Track your PAN/TAN Application and e-Return Registration Status:
You can track the status of your application for new PAN / reprint of PAN card / Changes or Correction in PAN details using the 15 digit unique Acknowledgment Number after three days of application using this facility athttps://tin.tin.nsdl.com/tan/StatusTrack.html.
Know your PAN number:
http://incometaxindiaefiling.gov.in/knowpan/knowpan.jsp.
Online Application for Request for New PAN Card Or/ And Changes Or Correction in PAN Data (PAN Change Request Form):
Read the instructions at https://tin.tin.nsdl.com/pan/correction.html. Then go to the bottom of the page, and in the "Apply for New PAN Card Or / And Changes Or Correction in PAN Data" select "Individual" (or your required choice if not individual) and click "Select". This will open the relevant Form.
Read the instructions at https://tin.tin.nsdl.com/pan/form49A.html. At the bottom of the page, select the proper category and click Select.
AO Code:
You need to mention AO code on your PAN application. For information on AO code, http://tin.nsdl.com/aocode.asp.
Track your PAN/TAN Application and e-Return Registration Status:
You can track the status of your application for new PAN / reprint of PAN card / Changes or Correction in PAN details using the 15 digit unique Acknowledgment Number after three days of application using this facility athttps://tin.tin.nsdl.com/tan/StatusTrack.html.
Know your PAN number:
http://incometaxindiaefiling.gov.in/knowpan/knowpan.jsp.
Online Application for Request for New PAN Card Or/ And Changes Or Correction in PAN Data (PAN Change Request Form):
Read the instructions at https://tin.tin.nsdl.com/pan/correction.html. Then go to the bottom of the page, and in the "Apply for New PAN Card Or / And Changes Or Correction in PAN Data" select "Individual" (or your required choice if not individual) and click "Select". This will open the relevant Form.
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