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Hard times for the aged on tax front

Senior citizens will now find it tough to escape from TDS net. ET offers some tips.

What to pick: HRA or office flat?

Shalini Jain & Chander Talreja from E&Y evaluate 2 options before many office-goers.

Dummies guide to filing tax returns

Here are some tips to all taxpayers on what they need to keep in mind when it comes to personal income tax.

Computing tax exempt portion of your HRA

The exemption applicable to house rent allowance (HRA) is covered under Section 10 (13A) of the Income-Tax Act. Normally, it is a part of the salary package over and above your basic salary and dearness allowance (if any).

Don't count on exemptions

What if you are told that every penny you earn will be taxed - either now or later! You may argue that this statement is incorrect as recently you have invested Rs 1 lakh in Public Provident Fund and Life insurance policies, which not only give you a tax break under Section 80C, but even the interest/returns thereon and the withdrawals/maturity amounts are tax free.

It's an open & shut case

There has been talk of doing away with open-ended tax exemptions. We explain what this means for individuals.

Defining moments: Profit from I-T

Tax-free income and deductions have to be considered separately for the purpose of tax benefit. Read on to know why.

Beyond tax: Leave behind an asset not a liability

Please start to think beyond tax. Whether you can buy insurance or not for your children/grandchildren is a secondary matter.

The best bondings

Investors should distinguish between tax-free and tax-saving bonds to arrive at their actual tax liability.

Here are few ways to refine transfer pricing regime

Initial positions by a tax authority tend to evolve towards ‘globally accepted best practices’ over a time frame and India is no exception to this rule. Some of the key areas to address the concerns and move towards the global practices are discussed below:

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