Changes in Income Tax Slab


Income Tax Slab for Financial Year 2012-13 As per the budget 2012-13, the income tax slab for Financial year 2012-2013 has changed. The new income tax slab becomes applicable from 01st April. The income tax exemption limit has increased from Rs 1,80,000 to Rs 2,00,0000. So that means, for income upto Rs 2,00,000 you don’t […]

Few Days Left for Infrastructure Bonds of This Year

We are already in last month of this financial year. Most of the readers of FinanceSynergy must have done their tax saving investments. For those of you still haven’t done your tax investments, you should do it now. LNT Infrastructure Bond 2012A Series Tranche 2 The LNT Infrastructure bond issue has been extended till 12th […]

Tax on Mutual Funds

Earlier on this blog, we have discussed about mutual funds but in this post, we are going to discuss about the tax on mutual funds. As some of you may already be aware that there are two types of income from Mutual funds: Capital gain and dividends. Capital gain is the increase in value of […]

REC Infrastructure Bonds 2011-12

REC Infrastructure bonds that saves tax under section 80CCF, is now available for the financial year 2011-12. The issue for this financial year’s long term infrastructure bond from Rural Electrification Corporation (REC) opened on 19th December 2011 and will close on 10th Feb 2012. For all tax saving Infrastructure bonds under section 80CCF, please check […]

L&T Infrastructure Bonds 2011-12

L&T Infrastructure bonds 2011-12 is the latest infrastructure bond issued this year. Again, this is the long term infrastructure bond that gives you tax benefits under section 80CCF. If you not a regular reader of this blog, I suggest you to check out my article Where and how to buy infrastructure bonds. You should also […]

What are Tax Deductions Under Section 80U?

Tax deductions under Section 80U are over and above other deductions. However, please be informed that this deduction is only ¬†meant for people who suffer from disabilities. If a person suffers from disability, the section 80U is useful for him/her. However, it can not be used for the parents, spouse, or any other dependents can […]