Simplified Laws Guide to Taxation and Legal Concern

This is a very common question I encounter from many people. When you visit a restaurant, the menu card mentions the item wise rate and * mark at the end – Taxes extra! The cost of the food at fine dining (air conditioned) restaurants itself is taxing one’s pocket and …

  Basics – The taxpayer has to discharge income tax liability on the estimated income earned/to be earned during the current year (for example, the year starting 1st April 2014 and ending on 31st March 2015, taxes to be paid during the year as Advance tax). Many income such as …

An Equity Linked Savings Scheme (ELSS) is an open-ended Equity Mutual Fund that doesn’t just help you save tax, but also gives you an opportunity to grow your money by making use of most of the potential equity market. Investment in such ELSS Mutual Funds would provide tax benefit  u/s 80C …