How to Create HUF | Tax Benefits | Creation & Partition of HUF

When we talk about tax planning, a new legal and effective way suggested by Tax Consultants is creation of HUF i.e. Hindu Undivided Family. In India many people have a joint family and also a joint income, so as it is a joint income it cannot be taxed in the hands of any specific individual. Therefore … Read more

Save Tax in A.Y.2019-20 by Investing Efficiently

With the Budget 2018 implemented in the country, who doesn’t wants to reduce their payment of tax? “No one” is the straightforward answer to this question. In present economy where inflation rules the country, everyone wants to have more money in their pockets and safe custodies so that they can use it in future. Payment … Read more

5 Tax Planning Tips for Salaried Employees for A.Y. 2019-20

The new budget announced this year by the new government brought a host of changes. However, the scope for salaried class were, as usual, limited. Only a few positive chances were introduced to enhance the quality of life of the salaried or working class. In these cases, tax planning can be extremely beneficial in saving … Read more

Deduction U/S 80DD: Medical Treatment of Handicapped Dependents

Deduction in respect of Medical Treatment, etc. and deposit made for maintenance of handicapped dependents  – Deduction under section 80DD As we have discussed earlier about deduction under section 80C, 80D, 80CCC, 80CCD and other deduction. Here, we’ll talk about deduction under section 80DD related to medical treatment etc and deposit made for the maintenance … Read more