Tag Archives: Income Tax

Questions Regarding HRA

The following information is for educational purposes only and please consult your financial adviser or financial planner for further details.

These were some of the questions that I wanted answers and I am glad that I found them.

1. Can I pay to rent to my father if he owns a house? Is it legal? Continue reading

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Should I pay Taxes?

I am writing articles regarding taxes. I don’t preach others that it is bad to pay taxes or advice them not to pay taxes. I believe that Taxes have to be paid by the citizens for the welfare of the nation.

The only thing I want to emphasize is that, why does government gives tax break? It should serve some purpose right? I am certain that most of the rules does make sense even today which was formed way back before my birth. 🙂 Continue reading

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Insurance Policy

This time of the year, most of my friends prefer to go and get Insurance policy just because they have to buy one so that they can save tax. I get calls from various Insurance agents to take up policies from January to March time frame and the prominent reason they give me to buy the policy is “Tax Benefit”. I am not very keen on taking a policy just because I get a tax break. I know that it does not work that way.

I don’t mind taking a insurance cover for the purpose of insurance rather than “Tax Benefit”. But the fact is that most of us prefer to take the policy thinking it will reduce our tax bracket. I have done that in the past. I have taken a policy and I do pay a yearly premium. I did not know much about tax at that time and for tax benefit I did take a policy only to learn that it does not make sense. Continue reading

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