Here's what you need to know to save taxes in 2017?

The tax saving season is here. Tax saving should be done throughout the year but many generally do it in the last two-three months. So, if you are planning tax savings for 2015/16, it will be helpful to know your options in Internal auditor in India.

Investments against which you can claim tax deductions
All the following instruments are qualified for a deduction of up to Rs 1.5 lakh under Section 80C.

1)    Tax saving equity linked saving schemes: These are equity mutual funds which investment in stocks and related instruments. These funds have a lock-in period of three years. If you want to save tax as well as grow your money , tax saving mutual funds can a good option as equities have the potential of delivering inflation-beating returns service tax consultant in Delhi.

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Mistakes To Avoid While Doing Tax Planning in 2017 ?

One of the biggest investment errors we make during pressing times is to invest just to avail the tax deductions. Do not therefore make any investment just for the tax deduction. Tax planning is not about saving taxes but it is an important part of overall financial planning and should ideally be planned throughout the year in service tax registration in India.

But unfortunately, we all consider it one time activity which we undertake generally in the last three months  of the  financial year without giving much thought on how it is going to impact our overall finances.  

" One of the biggest investment errors we make during pressing times is to invest just to avail the tax deductions. Do not therefore make any investment just for the tax deduction in service tax consultant in Delhi. There are only three months left for doing tax-saving investments for the year 2015/16. Most of you would have received emails from your human resource department to submit tax proofs. So, if you have not done your tax saving investments for the year yet, try not to commit the following mistakes in haste.  

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Government Rules Out tax Incentive Beyond Rs 2 lakh for Second Home.

Ruling out rollback of the proposal to restrict tax incentive for second home to Rs 2 lakh per annum, Revenue Secretary Hasmukh Adhia on Saturday said there is no point in subsidising purchase of second property by those who have surplus funds. Moreover, he added that the tax incentive for second home loan borrower is being “virtually misused.” foreign companies subsidiay
Citing limited resources, he said it is prudent to subsidise first-time buyer and not the second property owner who is not staying in that but earning income from the second unit. The Finance Bill 2017 has restricted set-off of loss towards second home against other heads of income up to Rs 2 lakh under Section 71 of the Income Tax Act. service tax consultant in delhi

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Tax Refund to Exporters GST within Seven Days.

The department of revenue has promised to refund tax claims of exporters within seven days under the new GST regime, thus addressing a major concern of the sector, Commerce and industry minister Nirmala sitharaman said today.

The minister also said that exporters would get interest on the refund if it is delayed beyond two weeks.

Exporters have been demanding an into  exemption from payment of taxes under the goods and service tax consultant in India (GST) regime arguing that delay in refunds often takes months and also results in blocking the working capital. They also stated that exports need to be encouraged in view of the global slowdown. The minister recently raised the issues of exporters in the GST council meeting.  The concern of the exporters was that the refund should not take too long, She told reporters after chairing the meeting of the council for trade development and promotion here today.

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