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How are mutual funds taxed? – Part II

Last week, we covered the tax rules with regard to all categories of mutual funds. You know that with mutual funds, taxes apply in your hands at the time of your redeeming your fund and that your tax liability depends on how long you held the fund. If you sold all your units at one go and bought it on a single date, it is easy to arrive at the holding… Read more »

Learn how your mutual funds are taxed
How are mutual funds taxed? – Part I

If there is one detail regarding investment that everyone pays close attention to, it is taxation. Here’s putting down what you need to know about your funds and how they are taxed. While much of your other income, such as salary or interest income, is taxed at your slab rate, the gains you receive from mutual funds – called capital gains – have separate taxation provisions. They are called capital… Read more »

SaveOnTaxes.in explains section 80C investment and deduction options
Explained: Section 80C investments

Reducing taxes is at the forefront of our minds. Section 80 C plays the most important role in our tax-saving efforts. The list of deductions allowed under Section 80C is long. Broadly, they fall into three groups – those based on investing, those based on protection (i.e. insurance), and those based on spending. For the purpose of wealth creation, obviously, the options that incentivise investments are the ones that matter…. Read more »

Two men talking the tax-talk (about income tax and how to save on taxes using the various tax-saving options)
Let’s have the ‘tax talk’

Income tax is important. It is what we are compulsorily required to pay to our Government for all the services we receive from them. But here’s the irony – none of us are taught ANYTHING about it. For most part of our early lives, it is a “hush-hush” phrase – something that we all hear around us, yet, no one quite explains it to us. The result? We are overwhelmed… Read more »

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Decoding Form-16: How to save more on taxes (for Cognizant employees)

Cognizant Employees! Did you know that you can much more on your taxes? You read that right. By taking advantage of Section 80C of the Income Tax Act, you can reduce your tax outgo by a substantial amount. To find out just how much more you can save, and how to save it, read the annotated Form 16 from your company below. It will tell you where the opportunity to save on your… Read more »

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Decoding Form-16: How to save more on taxes (for TCS employees)

TCS Employees! Did you know that you can much more on your taxes? You read that right. By taking advantage of Section 80C of the Income Tax Act, you can reduce your tax outgo by a substantial amount. To find out just how much more you can save, and how to save it, read the annotated Form 16 from your company below. It will tell you where the opportunity to save on your… Read more »