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Limit for e payment reduced to 1 lakh

Ministry of Finance (department of revenue),has reduced the threshold limit for payment of service tax to 1 lakh rupees. Previously it was Rs 10 lakh for e-payment. It shall come into force from 1st January 2014. It is observed that the move is towards encouraging tax compliances through online mode and thus to make formalities simple…

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Hidden Benefits of housing loan you must read

Housing loan, in first instance it is like a burden to repay a certain amount to be paid in periodical intervals even though it is used for construction/purchase of house. But, when it comes to Tax calculation it will be beneficial to tax payer that, he can deduct the interest paid on account of housing loan. Primarily interest repaid can be deducted from house property income and from the value of house (if you have more than one house) while computing wealth tax.

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