Maximising your tax saving 1. Exemptions/reimbursements – Identify the reimbursements available from the company and take maximum advantage of the same. Normal expenses that one incurs could help save tax. Example- Telephone/fuel reimbursements, meal vouchers and company car. A person in lower tax slabs can reduce his tax liability to nil with exemptions alone. Similarly, […]
Month: January 2017
How to claim Input Tax Credit of GST in India?
How to claim Input Tax Credit of GST in India? The following extract of information from GST Law explains about the procedures and formalities to claim Input Tax Credit paid under GST Tax” Claim of input tax credit and provisional acceptance thereof “ Every taxable person shall, subject to such conditions and restrictions as may […]
What is Input tax credit
FREQUENTLY ASKED QUESTIONS ON VALUE ADDED TAX (VAT) What is Value Added Tax? Value Added Tax is a tax on value addition made by the subsequent seller on the inputs he purchased. It works on a macro economic principle i.e. the sale invoice – the purchase invoice as per standard economic norms is the value […]
How to get New PAN Card if Lost or Damaged
PAN card or Permanent Account Number card is an essential document for most us, not just for the purpose of filing tax returns but many of us, use it as a form of identification, as well. So, it goes without saying that losing your PAN card can leave you feeling tensed and restless. But, there’s […]
Taxes in Buying New Car in India
Buying a New Car worth Several Lakh, Know Taxes Paid to Government Including Post Purchase Taxes Prices of Some Models » Toyota Fortuner – On Road is now 30 Lakh+ » Honda City Diesel – Price Range is from 10 Lakh to 14 Lakh » Premium Diesel Hatchback – Polo and Elite I20 now […]
