Evading taxes is a crime, but avoiding and saving taxes is right of every law abiding citizen and there are many strategies structured to save your taxes and bring down your tax liabilities.
Some of the methods one can opt for saving taxes are-
1. Tax laws permit investors to adjust the cost of the asset to inflation during the holding period, and with inflation has been the cause of worry for most of us, the tax payer can take advantage of the indexation and reduce their tax bills, however not all investments are covered under this item and only certain capital assets, debt funds, gold ETFs are eligible for deduction.
2. If you gift money to your wife, and the same is invested in her name, the tax laws will club her income with yours and the advantage is that the clubbing takes place at the first level of income, and if the money [...]
Posted at May 10th, 2013 at 12:05 am
Saving money is very essential for everybody for crisis management as well as for post retirement. Saving can be done in different ways at different ages.
Develop the habit of savings right from your first earned income and continue the saving, which will help you as you keep growing older. Every person has his own way of earning, either in form of business or through salary if one is doing a job. One has to plan his household expenses as per his income and prepare a budget and also plan savings for secured future.
One may have some money left every month or every few months after contributing to the household and other needs. This money can be saved meaningfully for future needs. Everybody has a bank account. After contributing to the family, you may have surplus money left. Though banks give timely interests on your [...]
Posted at April 24th, 2013 at 12:04 am
The budget presented by the finance minister P C Chidambaram was an event which may bring reforms and give a momentum to the failing growth of the Indian economy. It may be considered as the populist budget and focus seems to be laying a red carpet for the investors who are shy and reluctant to invest in the country where Red tapism and corruption is rampant and has triggered a wave of discontent and disappointment among the common men.
The budget focuses on the pushing investments particularly in the infrastructure sector, but on the inflation factor the budget failed to provide relief to the common man, whose survival has become a nightmare due to rising prices.
Over a period of time the budget has lost its importance and is just a window dressing to appease the public and win elections but budget plans need to be implemented [...]
Posted at April 9th, 2013 at 01:04 am
Even through the entire accounting system is now totally IT based, the basics followed are the same. Many accounting packages have come out with sophisticated features to manage the entire financial accounts of a company. Accounting packages like Tally, or any other software is designed with basic accounting principles of debit and credit, journal entry, ledger posting, and final profit and loss account and balance sheet.
Financial accounting and other finance details start with the initial journal entries which follow the common rule of debit and credit where receiver account is debited and outgoing account is credited. For example if you make a credit purchase from a trader, the purchase account is debited and the party’s account is credited. After purchase, the process of production takes place and then you sell the [...]
Posted at March 12th, 2013 at 12:03 am
The difference between the common man and the leader is that leader is a person who is willing to take additional responsibilities and has the ability to handle more than the common man.
This holds true also for skilled leadership in corporate world today, the ability to move on with confidence without fearing for the pitfalls or the backlash in the due course of day to day activities of the complex business world.
The skilled leader today is the complete pack of class, style, body language and etiquette, vocal communication, business practises, ethics and a street smart strategy in all situations.
A true skilled leader with a strong personality can create likability and confidence in his team, with his clients and business associates. He has the ability to hold discussion without dispute. A skilled leaders needs to cultivate and [...]
Posted at February 26th, 2013 at 06:02 am
Exciting economic growth is being reported within the Asia-Pacific region. This is according to a recent which specifically focuses on growth seen in Australia and New Zealand as well as Asia.
The growth mentioned is occurring within the gaming sectors which are growing despite sluggish sectors in other parts of the economy.
There are many reasons for this growth. One of these is advances that have occurred in technology that help to boost online gaming revenue. Users can now play not only from their computer but using new mobile casinos though sites like CasinoOnline.co.nz, which allow gambling literally anywhere a signal can be obtained. Successful advertising campaigns have also helped draw attention to the sites.
Revenues in both regions have increased. Within Australia, there has been a 3.3% growth in a burgeoning area of [...]
Posted at February 12th, 2013 at 02:02 am
If you are a young professional just starting to manage or structure your financial strategy, you may be looking for an interesting investment opportunity or concept. While most young people tend to focus primarily on income and savings, the temptation to invest is always there – and of course, if you invest wisely and strategically, you may be able to generate an additional source of income and/or financial security. However, it is important not to be too ambitious or reckless with your investments when you are just starting out. Instead, try to find a simple, more stable form of investment that can help you to learn strategy and develop familiarity with less risk.
Of course, picking out a stable investment opportunity is a task easier said than done – particularly in the turbulent economic times so many countries are [...]
Posted at January 10th, 2013 at 11:01 pm
Before investing your life time savings and hard earned money in land, it is imperative that you look at some important pointers as investment in land involves huge investments and these pointers will help you to take a right call when you plan to buy a land.
Check if the land is under agricultural or non agricultural category, as one cannot make development or construction on agricultural land. Even if the land is non- agricultural you must ensure that the land has all clearances from all the various local authorities. A plot on land must not be located in any developmental plan, or encroach on any government land, as government is entitled to take away your land if it hinders or obstructs any development work under taken by the government.
A plot must be having a clear title and it must also be demarcated properly, and all records [...]
Posted at January 4th, 2013 at 06:01 am
Indian economy is finally rejoicing and happy days are again, as the inflation has moderated its pace in past ten months in November, to a low of 7.24%. Inflation had become a night mare for the government and the overall sentiments portrayed a very dismal picture few months back.
The government has utilized all its resources to get the FDI bill passed in the Lok Sabha and Rajya Sabha, making a way for all FDI investments, which were held up for a long time. The Reserve Bank expects the inflation to come down further in the coming months and that may lead to a cut in the interest rates.
The government is try to make all the right moves to strengthen the growth of the economy, and India’s economy could be influenced by the developments in the us and other European nations as our economy depends on the trade with Europe and US, and [...]
Posted at December 27th, 2012 at 12:12 am
Possessing a credit card has become common practise and more and more people resort to using credit cards as compared to carrying liquid cash with them. Having a credit card does have a host of advantages, however it also has a downside, that is we are always at a risk to overspend.
With caution we can make a smart and calculated use of our credit cards. While using credit cards we are awarded with some bonus points. Credit card holders often tend to ignore the points they earn while spending and using their credit cards. However these points are very useful and are money saving tools if utilised wisely and spent on necessities of life.
Every credit card has a different system of allotting points on a credit card, depending on the type of the card- like platinum, diamond, gold, silver card.
The points are accumulated on your card [...]
Posted at December 13th, 2012 at 12:12 am
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