Income Tax Guide
Started thinking about your taxes yet? As the financial year nears its end, you may need to review your tax burden and tax-saving investments. Here’s a guide to walk you through the basics of income tax.
Types of taxes
In India, citizens are liable to pay direct and indirect taxes. Here’s how they differ:
- Direct taxes: This is applied to one’s earnings, and the tax is paid directly to the
government. While individuals, Hindu Undivided Families (HUFs), and other
non-company taxpayers pay income
tax, company earnings are subject to corporate tax.
- Indirect taxes: The Goods and Services Tax (GST) is a form of indirect tax. Here, the seller of a good or service charges tax from the buyer and pays it to the government.
Important income tax dates
- Submit tax-saving investment and expenditure proofs: 31 January
- Complete tax-saving investments and expenditure: 31 March
- File income tax returns: 31 July
- Verify income tax returns: October–November
Types of income
Make sure to declare all your income sources when filing income tax returns. These include:
- Income from salary: This covers salary and pension earnings.
- Income from other sources: This covers various types of income, including interest on savings bank accounts or fixed deposits, winnings from a prize or lottery, among others.
- Income from house property: This covers rental income from a house that you own.
- Income from capital gains: This covers profits made by selling capital assets like an apartment, shares, or mutual fund units.
- Income from business or profession: This covers
Essential Information Regarding Mortgage Litigation
I must tell you that finding a home loan is an uphill task for every landowner. One really must follow some proper steps and instructions as a way to secure the most beneficial deal in the mortgage. Further in this post, we’re going to talk particularly about mortgage litigation. Well, litigation is a straightforward term that denotes a specific disagreement before a court. It occurs in the event the borrower of the loan and cash lender uses a dispute regarding loan payment. So, if you are looking for a few essential info on mortgage litigation then you certainly must move through this information once.
Truthfulness
It is fairly important to note that under litigation a money borrower can have his possibility to clarify a legal court the actual reasons behind the dispute arising contrary to the lender. A great number of money lenders try and stay away from litigation since its fees could cost them a lot. These money lenders also check out keep away from the disclosure of sensitive corporate data. In the process of litigation, each party is given to be able to prove its truthfulness.
Evidence and proofs
These play a crucial role along the way of mortgage litigation. Both parties are required to demonstrate several pieces of evidence following their case. Some of these proofs and evidence include mortgage documents, as well as other official papers. Another important thing to take into consideration with this process is appointing a litigation attorney. I would like to let … READ MORE ...
Differences Between Speculating and Investing
The aim of both a speculator and investor is to come out profited from the market. The rate at which either of them can take risk is the difference between them. As an individual, the moment you take out money from your pocket intending to get a return, you are automatically an investor. For better understanding and for us to know the difference between the two of them, we shall be explaining them separately.
Investing
Investing has different faces; it’s in the form of monetary, time, or energy-based. You can understand investing in different ways, but as far as the fx market is concerned. Investing is the same as buying and selling securities such as bonds, stocks, mutual friends, and some other financial products that exist in the market.
At any time an investor wants to perform any transaction in the market, they are always optimistic, and expect good results on their capital by taking on an average or below-average risk. The reward they will receive looks like the underlying asset that could appreciate, interest payments, or in the full report of their spent capital. If we take a broader look into the nature of an investment, we will see that it’s the same as an act of buying and holding an asset for a long term result.
Speculating
Speculating looks like an exact opposite of investment. It is a way of putting money into a financial endeavor, which can lead to a high probability of failure. It’s not that … READ MORE ...
Complete Guide to Buy Now, Pay later, Financial Packages Without Credit Check
If you are thinking of making a large purchase and do not have enough money to buy it, then buy now pay and then a financial plan will be good for you. You don’t even have to worry about making payments through installments for a year or more.
You can find exceptional financial plans that offer interest-free periods and 90-day programs that interest you.
Understand this financial plan
If you think about electronic goods or household appliances then you will definitely find a variety of buy now and pay for the package later. Even though it sounds good, there are a few things you should know about them. If you don’t choose the package correctly, you might pay a large amount for financial costs. You will be given a short credit application when you go for this plan that you need to fill out and send.
If the application is approved, the item would be delivered to you and you will have to make the payments to the lender and not to the store.
Things to take consider
There are a certain plans where you would be given an interest free period. But once that period is up, the interest rates will shoot up and you will be accumulating a huge interest rate with each passing day. If you do not make the payment in full before the end of the interest free period, you will be paying very high charges. These plans are not great if you are not … READ MORE ...
5 Weird But Creative Personal Finance Tips
I think most of you are aware of the shrinking global economy unless you have been hiding in the Himalayas for the past two years or so. Making money, in today’s scenario, is not easy at all. You have to reduce your spending, work 15 hours instead of 8, stop partying, but you don’t save a negligible amount to pay your credit card bills.
You say, “I’m trying everything to improve my financial stability.” I’m sure not. Below are some strange but smart personal financial tips to make money fast.
1. Medical Research
No, I’m not asking you to do medical research. That will be done by doctors and doctors. You only need to lend your body for research. This is not as terrible as it sounds because all trials and tests are carried out under expert supervision and they must comply with strict laws. I don’t know about other countries, but in the US they make sure your body is safe when doing tests. Normal trials include testing doses of drugs that have been tested carefully, but not in humans.
There is no need to be in a good condition to get involved because drugs are not for healthy people. Although some research looks for a healthy body, most of them look for smokers, or obese sufferers, or asthma sufferers. Those who are interested, be prepared for small side effects.
2. Blood trade
Donating your blood is a virtue. But this is an opportunity in a recession. In the … READ MORE ...