Taxes in India are levied by both the Central Government and State Governments in India. Each and every citizen pays taxes to the governments in some or the other way. Direct Taxes In India Direct tax is something which is Directly paid by to the Government. The Direct taxes are governed by the CBDT (Central Board of Direct Taxes). Incase…Read More

What is an Advance tax ? Advance tax is nothing but the Income Tax that is collected from every tax payer based on the Income Projections for the Financial Year. Advance tax is Primarily for Individuals who is generating Income from sources other than salaries like Income from Rental on Property, Fixed Deposit Interests, Capital Gains from Investments, etc…  So…Read More

Income From House Property Any Income generated by the way of Rent from Residential House, Land, Commercial Land or Building is Taxed under the head Income from House Property. There is no Difference between commercial property or residential properties under the head Income from house Property for taxation purposes. Any Individual or HUF earning more than Rs 20 Lakhs in…Read More

Deductions under section 80 There are Various deductions Under Section 80. This means in simple terms an Individual or an HUF can avail these deductions. An Individual or an HUF can reduce his taxable Income Under Various Sections of 80 allowed under them. Section 80 C Section 80 C is the most common and a very familiar deduction available under…Read More

What is a Large Cap Funds ? Large Cap Funds are funds that Invests primarily in Top 100 Companies in Market Capitalisation. For a Mutual Funds to be classified as a Large Cap Scheme it has to Invest a Minimum of 80% of the assets in Equity and Equity Related Instruments. These Large Cap companies are generally the market leaders…Read More

What are Equity Funds ? Equity Funds are a type of Mutual Funds which Invests in the Shares / Stocks of a company or Derivatives (like Futures and Options). Equity Mutual Funds are further classified based on the Market Capitalisation of Companies, Sector or a Theme the Fund Invests, etc…. Types of Equity Funds Equity Funds are broadly classified based…Read More

What are Debt Funds ? Debt Funds are type of Mutual Fund which Invests in Fixed Deposits, Corporate Bonds, Money Market Instruments, Government Bonds, Commercial Papers, Treasury Bills…etc. The Return on these Investments are Guaranteed like a Fixed Deposits. Debt Funds are more Suitable for Conservative Investors Looking to Gain Little Higher Returns than there Fixed Deposit and the Capital…Read More

What are Hybrid Funds ? Hybrid Funds or Balanced Funds are type of Mutual Funds which Invest both in debt and equity Investments. Hybrid Funds are Further classified into Several Categories based on the Ratio of Investment between Equity and Debt Investments. Hybrid Funds or Balanced Funds are Safer Compared to Equity Funds. Hybrid Funds or Balanced Funds have the…Read More

Understanding SEBI Scheme Categorisation and Rationalisation of Mutual Fund Schemes.   Securities Exchange Board of India (SEBI) on its Circular Dated October 6, 2017 had come up with this circular on Mutual Funds Scheme Categorisation and Rationalisation to have a Uniform Name and Categorisation on the same type of schemes offered by different Asset Management Companies (AMC). Mutual Funds have…Read More

Pay Your Income Tax Online – Challan 280. The Challan 280 is Used to Generally used to Pay Income Tax for Companies and Individuals.  Step 1: Go to Tax Information Network website. And  Select Challan 280      Step 2: Tax Applicable If you are Paying Income Tax for a Company then Select Tax Applicable as (0020) Corporation Tax (Companies).…Read More