Vishal Edu Institute

Income Tax Slabs & Rates  FINANCIAL  YEAR : 01 st April 2019  to  31 st  March 2020                           ASSESSMENT YEAR : 01 st April 2020  to  31 st March 2021 Individual Tax Payers & HUF (Less Than 60 Years Old) Income Tax Slab Tax Rate for Individual & HUF (Below the Age Of 60 Years) Up to ₹ 2,50,000 * Nil ₹ 2,50,001 to ₹ 5,00,00 0 5% of total income exceeding ₹ 2,50,00 0 ₹ 5,00,001 to ₹ 10,00,00 0 ₹ 12,500 + 20% of total income exceeding ₹ 5,00,00 0 Above ₹ 10,00,00 0 ₹ 1,12,500 + 30% of total income exceeding ₹ 10,00,00 0 Note : An additional 4% Health & education cess will be applicable on the tax amount calculated as above.     Income Tax Slabs for Senior Citizens (60 Years Old or More but Less than 80 Year...

    शेअरबाजार शिकायच आहे........? ‘मराठी माणसाने आता शेअर बाजारातील गुंतवणुकीकडे वळणे आवश्यक आहे. शेअर बाजार पाहून किंवा वाचून लक्षात येऊ शकत नाही, तर त्याचे गमक हे गुंतवणूक करूनच कळू शकते ; हे जरी खरे असले तरी गुंतवनुक करण्या अगदर व करताना ही अभ्यास हा देखिल तेवडाच परिणाम कारक ठरतो.  छोटय़ा रकमेपासूनही गुंतवणूक करता येते अगदी ५०० ते १००० नी सुद्ध .तरुण वयातच गुंतवणुकीची शिस्त लावून घेणे सुरक्षित भविष्यासाठी गरजेचे आहे. चला तर मग शिकुयात अत्यावाश्क बाबी : खरच शेयर बजार फायद्याच आहे का ??? चला एखादे उधाहर पाहूयात ; राम व सुरेश ला १०,००० मिळाले राम कोणतीही रिस्क न घेता ते त्याच्या बैंक मधे FD मानून टाकले ज्यावर त्यला बैंक ने १०,००० * ५% व्याज १ वर्षा साठी दिले ;१क वर्षा नतर = १०,५०० /- सुरेश ने तेच पैसे थोड़ी रिस्क घेउन १क चागल्या कंपनी चे १०० शेयर रु.१०० प्रमाणे खरेदी केले    १ का वर्ष नतर रु चे शेयर चा भाव रु.१२० जाला  १००*१२० = १२,००० + लाभाश    + शेयर बाजार हे खुले होते सोमवार ते शुक्रवार सकाळ ९.१५ ते ३,३०...

Investments allowable as deduction under Income Tax Act The Income Tax Act provides that on determination of the gross total income of an assessee after considering income from all the heads, certain deductions therefrom may be allowed. Here an attempt is made to explain all types of investment like deduction under income tax act: Payment of premium for annuity plan of LIC or any other insurer : Deduction is available upto a maximum of Rs. 1,50,000/-. The premium must be deposited to keep in force a contract for an annuity plan of the LIC or any other insurer for receiving pension from the fund.  Deposit made by an employee in his pension account to the extent of 10% of his salary : Where the Central Government makes any contribution to the pension account, deduction of such contribution to the extent of 10% of salary shall be allowed. Further, in any year where any amount is received from the pension account such amount sha...

Documents Required for Filing Income Tax Returns  As per the Income tax  sources on Incomes Head  A. Document for all PAN Card Addhar Card Mobile  Mail id       Bank Details  B. Income from Salary  Form 16 / Salary Sleep  Bank Pass book Dedication details  -LIC , FD ,Medi Claimed ,PF , Mutual Fund ,rent Receipts, other allowances documents, etc. loan Statement - home Loan ,Education Loan etc. 26 AS (online)      C. Income from House Property   Property (ownership)& rent agreement  Rent receipts  Municipal Tax copy Loan statement  Pan card of the tenant  D. Income from Business (Proprietor)/small Sales / Purchase bills Expenses Details Cash book Other Income Details  loan Statement if any Fixed assets details Debtors/Creditors details  26AS (online) last Year records (if any) E. Capital Gain  ...

HOUSE RENT ALLOWANCE  (HRA) Sec.10(13A) as well as Sec 80(GG) Explain.   HRA exemption is provided by the Income Tax Act. for the help of minimize the tax liability to Salaried individual (both private & public sector), and the self employed people and Professional. How much is exempted? T he exemption for HRA benefit is the minimum of i) Actual HRA received                                                                                         XXX ii) 50% of salary if living in metro cities, or 40% for non-metro cities                  XXX iii) Excess of rent paid annually over 10% of annual salary                          ...