Easy Tax Planner Blogs

If you’re struggling to save up enough money to retire comfortably, you’re not alone. The majority of American workers are under-saved for retirement, and many don’t even have access to employer-sponsored retirement plans such as 401(k)s. In this article, we’ll discuss how the national pension scheme can benefit you now and in the future. If your company doesn’t offer one, you can still benefit from using an online version of the national pension scheme . What to do before enrolling in NPS If you’re thinking about enrolling in the national pension scheme (NPS), there are a few things you should do first. Make sure you understand how the NPS works and what your options are. You’ll also want to compare the NPS to other retirement plans to see if it’s right for you. Here’s what you need to know before Read more…

There are many components to your company salary that also vary with tax rules. Taxes for each component depend on current tax policies. You have some freedom in deciding how your salary is structured at work. Employers usually offer a number of different to you at work and you may even be able to negotiate for certain benefits. Salary structures can be tricky, but this article provides a breakdown of all the key considerations. With these, you’ll know what factors to take into account (like take-home pay and tax liability) in order to create the best one for you. #1: Opt for House Rent Allowance: Suppose you are living on rent and receiving HRA as part of your salary. In that case, you must provide rent receipts to your employer to claim a tax deduction on this income component. As Read more…

You open your to-do list for the day and there it is! The one reminder you’ve ignored for weeks (or months) saying “Complete Your Tax Planning.” But today is the last day of submission of investment proofs! Yes, this can be procrastination fatigue, but know that if you complete your tax planning right. All the mistakes on tax planning and how you can save money on taxes where you find the correct information. Mistake # 1: Not educating yourself on taxation: “The most important investment you can make is in yourself.” – Warren Buffet No, you don’t have to study for hours on end and become a tax expert to use our tax services. We just insist that you know the basics so that you can best help yourself. It’s just like an investment- it will pay you back big Read more…

This time of the year, parents are planning for school admissions and students are preparing to go back to their classes with projects and assignments additionally, this year a Covid-19 situation has made students and their parents have to pay the school fees online. The school sends emails detailing how this will be done. We should understand that paying school fees provides tax relief and not forget to claim this as a deduction from taxable income. So, please keep your school fees receipts safe so that our tax experts get that deduction for you while filing your I-T R You may be eligible for deductions against school fee payments: there are 80C deductions, among other things. School fees can count, along with insurance premia, PPF, EPF, FDR, NSC and so on. The aggregate limit for these is Rs1 lakh per Read more…

Introduction: What is a Tax Rebate? keywords: tax rebate, indian tax rebate, small tax rebate A tax rebate is a refund of taxes that an individual has paid in a previous year. The government offers this rebate as a way of encouraging people to save money for taxes. The Indian government offers tax rebates to individuals who make less than the taxable limit. This limit is Rs 2,50,000 for salaried employees and Rs 3,00,000 for individuals who are self-employed or business owners. There are also small tax rebates that are offered to those who have made less than Rs 25,000 in income during the financial year or those who have made less than Rs 5 lakhs in investments. A tax rebate is generally offered when an individual has paid more taxes than they needed to and the government wants them Read more…