PAN Card not sufficient for tax pay

PAN (Permanent Account Number) have been assured by having all taxpayers is disturb the peace again. Indeed, taxpayers no longer a "new numbers" will take, then they will be able to file tax returns. Income Tax Department to any kind of interaction would require the taxpayers to the new number.
For 2010-11 the tax returns filed next year also have to mention the unique number. The Document identification number (Din) and it will be called 'pan' and 'tan' will be released on the lines. Central Board of Direct Taxes (CBDT) issued new direction - according to the instructions of any kind of taxpayers with the tax department correspondence, notices and orders in the 'Din' would be mandatory to mention.

Income tax under Section 282 B is necessary to mention Din. A finance ministry official said, "Income Tax Department will provide the taxpayers Din. With the correct filing of tax returns - with a tax refund claim will have time to mention taxpayers Din. " He said income tax contact center "this month will start working to provide taxpayers Din. To get the number of taxpayers will suffer any trouble. In fact, the IT department itself "Din" setting and will carry out its allocation.

Taxpayers will no longer significant shift to a new number, 'Din' document, it will not be approved without any tax refund claim must now mention of the Din

How to save tax in half an hour

PPF account of the advantages we have discussed many times. Nonetheless, many people find open not PPF account. In fact, everything that people are accustomed to avoid. If they think about opening the account, but do not find. Most people want to open my account in SBI. He is confident the bank. Nonetheless, they have been seen on the left are just assuming. In reality open PPF account is not a difficult task. If you want to open this account, we recommend you are 4 simple step. You by following them barely 30 to 35 minutes can open your account in State Bank.
First step: select the branch to open PPF account, the government has authorized a few branches. You first need to know about that branch. Usually the major branches of SBI and where the number of customers is more remains, there is the account opening facilities. Remember one thing here and to open PPF account in the bank savings account need not be.

Second step: selection of the bank to process Might Karencka time, so then your job becomes much easier. Second step as you open bank account with the form to be filled. It takes barely 5 minutes. In the form of the name would give you a Neugminee. Be signed by a witness as well. With this form you have to find their identity and residence certificate. For this you Passport, PAN Card, Driving License, Voter ID or ration card, etc. could use. 2 passport size photos are also put in the form. Go Khulwane the account, then move along the certificate copy of the photo. If a verification will be needed, he will be on the spot. The entire process takes no time more than 20 minutes.
Third step: Get the book as the amount you open account, it will be the first to fill in a slip. After making it to the bank will give you a passbook. Passbook savings account is like. Your photos will be engaged in it. nominee be of the same name. The passbook is referring to the laws of the back of the PPF account. Through these three simple steps you can open your PPF account.
Fourth step: Provide at online if you already have an account with SBI, the PPF account be sure to make this link. It also provide you with the PPF will have to deposit money in the account, the branch will go. This you will save time. You will not feel in line at a branch.

Arakenkae some time and attention from people PPF account in a bank would like to transfer. Find it not make the shift. PPF passbook for your visit with the new Branch, and there give a written Application. Passbook with him submit. This process takes 15 to 20 minutes. Tax rebate on investment in PPF account if you want to get, make sure the pass book copy of the photo. Then get Atestad take it from the bank concerned.

Only a month Tax Refund

Kolkata and Pune will become the center Now having just returns processing center in Bangalore,E - return to pay refunds to those who will soon fillThese days, the account of political parties in the IT department is busy crawling. If these mistakes were found, then the income tax department to get the group discounts may be over. Chief Election Commissioner has asked the department of nearly 1200 registered teams only 200 are active. The remaining parties in a way income tax exemption has been misused. CBDT Chairman said that he has received some complaints related to political parties. If a team not lived up to standards so it can have loss of tax exemption. Income Tax department refunds are coming Joha distribute news for millions of people relaxed. Government refunds back in a month plan is working. Central Board of Direct Taxes (CBDT), the blueprint for the next financial year to have it implemented. The three new central processing center where it will be made online by filling those returns without special arrangements for refunds will be delayed.According to CBDT chairman Sudhir Chandra try that little - small refunds should be disposed of in a month. Although he did not clear the small amount of refunds, be sure to indicate that this category will come all salaried. He said that Central tax processing center in Bangalore, the center lines of the three will be made. The Centre Manesar in Haryana, Pune in Maharashtra and West Bengal in Kolkata will become. Manesar and Pune, the center will be ready in a year.
Kolkata's center will be ready in two years. After preparation of all center in Bangalore, southern region, Manesar in the northern, Pune in the western and eastern region of Kolkata will be the processing of returns. E in these offices - will be the processing of returns throughout the month of the tax payer will be credited to the account refunds. Bangalore center was launched in May last year where just the processing of returns across the country are filled online.

Comptroller and Auditor General (CAG) for the delay in the refund of income tax department had pulled strong. He said that many countries in 45 days, the refund is paid while in India people have to wait for 18 months. CBDT Chairman said that all kinds of trying to pay refunds to be in 45 days. The number of employees is being increased.

Easy ways to save tax

Section 80 D

Under it, you get discounts of up to Rs 15,000 is provided to you or your wife or your children or dependent parents have taken a medical insurance plan. The premium discount of Rs 15,000 and Rs 20,000 to the general public can get to the senior citizens.
Section 80 DD
Under this section a dependent of the money spent on the treatment of tax exempt under this section up to Rs 50,000 or Rs 1.00000 exemption can be claimed.

Section 80 E

1. Under which the interest on the debt is Sskat get the discount. As to the amount of interest on it can get discounts on Purnbhuagatana Lakagine debt will not help. Loan taken for higher education should be. Loan from a bank or institution should be recognized.
2. Homlon will discount the interest tax. The discount will only Homlon on which you may have to stay. For reconstruction of housing repair loans are also exempt.
3. Equity Linked Savings Scheme is Stretrji This popular among investors. Under the three-year-old investment you can remove and put back rebate of up to Rs 50,000 gets it.

4. Tax Smart Oaritebal donation - Aix-section of income tax if you u / s 80 G accredited institution Donating will discount it. For 10 percent of your income can only be donated.

In short -

- Tax planning to align with your financial plan Beithaan it will protect your future too.
- Homlon not understand the bad. Buy and take home with Homlon Benifit tax.

- Even better is to donate. It will also give you discounts.
- 80 C, 80 D and DD under 80 take advantage of tax exemption.
- Insurance policies take advantage of tax exemption.
- Medical insurance and protect yourself and your family by making sure tax rebates.

- Enter the number exactly pan.
- Enter the tax returns on time.

Income Tax Savings Formula 2011

Income Tax Savings Formula,Income Tax Savings Formula for indian business man n our post office account of the NSC and PPF lot of banks are popular. His popularity then save it as is. People on all their income tax through the save. NSC up to Rs 100,000 in tax on investment can be saved. The limit is Rs 70,000 in PPF. It means that the check how much you invest in PPF, during a year income tax exemption on investment of just Rs 70,000 can find.
Navneet Dhawan, according to financial adviser to the NSC Afaydenivesh and compound interest on half of the NSC about 8.16 per cent annual investment return is found. NSC interest rate on investment is fixed at the time of investment. Start investing in NSC can be only Rs 100. According to the applicable interest rate maturity value of Rs 100 to Rs 160 is 6 years later.
How much can invest in this upper limit is not an investment. NSC 100, 500, 1,000, 5,000 and 10,000 rupees denomination certificates are available. At least 6 years to be invested. This feature is one-time investment.
How much discount facility? Income Tax Act, any taxpayer under section 80 C up to Rs 100,000 tax exemption on investment to be able to. NSC also is one of them. Well there is no limit to the NSC in the upper investment. Rs 100,000 to the discount on the investment can be found.
Where to buy it? NSC can be purchased at any post office, where the savings bank facility. Post office directly or through an agent it is invested. The amount you pay to invest cash, Czech, pay order, demand draft or through the old certificate can Mechyoard.
Who could afford it? No adult person can buy your name NSC. 2 adults who can purchase it together. In the name of a minor, his parent or guardian can be taken.
What is the transfer facility? NSC is another feature, it shifted from one post office can be. NSC another man's name can be transferred. It has to seek permission from the Postmaster or Head Postmaster.
PPF account Shuavidhaankara Advisor MK Arora said no man can open PPF account in your name. Hindu undivided families in the name of a minor, his guardian can open the account.
Where open the account? PPF account in State Bank of India or its associate banks can be opened. Also some other banks are authorized for it.
Account of the period, how much? PPF scheme is for 15 years. This consistent investment is 16 years.
Investment rules are? Throughout the year to Rs 70,000 in PPF account can be invested. This amount can be lump sum or in installments.
How much will the interest? PPF 8 per cent return on investment you get. Fifth day until the last day of any month minimum balance on your account in the assessment will be of interest.
How will the withdrawal of funds? PPF account to open the seventh year you can remove 50 per cent once a year. The amount of the financial year immediately before or 4 years ago account in the amount (whichever is less) will be half of.
When does the PPF maturity? PPF account is opened for 15 years. If you do not remove money by then, the whole money is found.
Allows the loan or not the third fiscal year loan from the PPF account can be taken.
Tax exemption is? PPF interest is completely tax free. Further investment in PPF account at the Income Tax Act, tax exemption under section 80 C is available. PPF at an investment of only Rs 70,000 tax exemption is available.

Savings account holders Good News

Savings account holders Good News,Savings account holders Good News for indian banks If your bank savings account is good news for you. In fact, the RBI, the Finance Ministry proposed that the freedom to set interest rates on savings accounts banks is given completely. Banks may increase the competition. Increased interest rates on bank savings accounts, common people and the government itself will benefit all three. Rising interest rates on savings accounts of banks will increase the cash which will end the issue of liquidity in the market are struggling with inflation as well as relief to the common man than this.RBI said that more than two million of the savings account interest rates decontrolled wants but few large banks are opposed. Although many banks are struggling with cash problems have increased interest rates on deposits, but not solve the problem even though banks have now followed by banks raise interest rates on savings accounts has decided to rule on the issue, the Ministry of Finance about currently has 3.5 per cent interest on savings accounts get. And RBI after the new proposal would increase competition in the banks over interest rates.