Many of us rely on interest income for our regular cash flows. A few can’t look beyond such investments. However, are you aware how your interest income is taxed? Taxation of Interest Income for various Investments The tax treatment of interest income varies across investments. Clearly, a few investments receive favourable treatment as far as taxation of interest income is … [Read more...] about How is Interest Income from your Investments taxed?
Every Union budget comes with a few positive and negative announcements. In Budget 2017, there were a few positives on personal income tax front. Tax slab rate was reduced from 10% to 5% for the income tax slab of Rs 2.5 lacs to Rs 5 lacs. Holding period for long term capital gains in real estate transactions was reduced from 3 years to 2 years. There were a couple of … [Read more...] about Budget 2017: How cap of Rs 2 lacs for Loss under Income from House Property affects you?
I have already covered the most aspects in my earlier post on Bank Fixed Deposits vs Debt Mutual Funds. In this post, I will discuss a very specific case when you need to withdraw money before 3 years. In such a case, which investment product should you choose? Debt MF or a Fixed Deposit? Taxation of Fixed Deposits and Debt Mutual Funds Interest income from fixed deposits … [Read more...] about Bank Fixed Deposits Vs Debt Mutual Funds : Part II
Cost of higher education has been rising very fast. Sometimes, the jump in fees can be really sharp. When I went for my higher education, the fee was Rs 8.5 lacs for two years. The year before, it was only ~Rs 5 lacs. A couple of years after I left college, the fee shot upwards of Rs 12 lacs. This sharp jump in fee can’t be explained through any general inflation. This is more … [Read more...] about Tax Benefits on Education Loan
The Union Budget may have brought some relief to tax payers through reduction in slab rate from 10% to 5% for income slab of Rs 2.5 lacs-Rs 5 lacs. At the same time, it dropped a bomb on those taxpayers with taxable income (after deductions) between Rs 50 lacs and Rs 1 crores. A surcharge of 10% over the tax payable was introduced for such tax payers. For those whose taxable … [Read more...] about How Marginal Relief helps those who pay Surcharge on Income Tax?