We ensure that you get as much tax-free income as possible. For example income received from Life Insurance Mutual Funds (ULIPs) is exempt from any Income Tax u/s 10(10D) of the Income Tax Act, 1961; whereas income from NSC or Bank Fixed Deposits is subject to Tax. An investment of INR 1 Lac for 3 consecutive years will return INR 24 lacs in 20th year @12% p.a. By default 8 Lacs would be Income Tax on these 24 lacs. Since our aim is also to save these 8 lacs, we would recommend investment in such flexi products and save 8 lacs from investment of 3 years * 1 lac only. However, since each individuals’ requirements vary, we would provide customized solutions suitable to you.
We have 5 heads of Income Tax as per the Income Tax Act, 1961.

1.

Income from Salary (TDS deducted & Form 16 provided by employers)

2.

Income from House Property (+ve if Rent received & -ve if Home Loan taken)

3.

Income from Capital Gains (Long Term & Short Term)

4.

Income from Business or Profession (Balance Sheet, Profit Loss a/c are prepared)
5.
Income from Other Sources (NSC, Bank Fixed Deposits, Winning from Lottery, etc)
All above incomes are added to arrive at Gross Total Income. Your investments u/s 80 C upto INR 1 Lac (ULIP, PPF, NSC) 80 D upto INR 10 K (Health & Medical) and other applicable sections is reduced to arrive at Total Income. Your tax is calculated as per prevailing tax slabs. In case of any excess deduction of tax you apply for refund or for shortfall of TDS you pay additional tax or for same tax, you simply fill-in Saral form. PAN is mandatory to file your ITR, else apply for PAN by Form 49A. Visit download sections to get these forms. Contact us for more information or no obligation discussions on your requirements.
 
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