Now a days, there is this one question that every other Indian citizen is eager to ask. And the question is – Do we need to pay GST on maintenance charges of Residential Buildings? The answer is Yes as well as No. If the monthly maintenance charges of your flat are more than 7,500, then…
Nikhil, a middle-class Indian, had been planning to buy a home in Mumbai. Since he did not have sufficient funds to purchase a large house, he went to the bank to apply for an individual loan. Upon seeing his financial statement, the bank did not grant him the loan due to his inadequate income. He…
Ajay is planning to sell his old flat in Punjab and wants to buy a new one in Mumbai. He purchased this flat in March 2014. Ajay is confused regarding the Capital Gains Tax on sale of property, because his friend was telling him that the entire profit on sale will be taxable as per…
When you repay your home loan before the completion of home loan tenure, it is called prepayment of home loan. You can make the prepayment in part or full. Normally, people decide to prepay the home loan when they have additional surplus. What is Part Prepayment of Home Loan? Let us see an example to…
How can I file my income tax return online and that too free. Here is a step by step guide to file your income tax return online. Introduction When a person exceeds the basic exemption limits, he files the income tax return.Income tax is not collected from the person whose Income is below limit as…
What is GST E-Way Bill? How to register and generate E-Way Bill from the portal? What are GST E-Way Bill rules and when are the rules applicable? How to login on portal and get the format of E-Way Bill? What is GST E-Way Bill ? E-Way bill is an electronic document which is required to…
What is GST on life insurance premium? What are GST rates on health, car, bike insurance premium? Insurance sector plays a vital role in the country and this industry is gradually going forward. The Government is also taking initiative to boost this industry. To boost this sector, it has also introduced many policies like Pradhan…
What does ELSS mean? Which are the best ELSS Funds in India for FY 2018-2019? Why do we call it Tax Saver Mutual Funds? What are the tax exemptions, we get under tax saving Mutual Funds? What are different types of options to choose while investing in tax saving best ELSS funds? We are again into another tax…