If my salary is 13 lakhs... then there would be TDS before I receive it. Besides if I have a business, then then entire profit comes under taxable income... I can deduct investments uptill 1 Lakhs... but cannot claim rebate under gifts etc... huh
Not everyone is conversant with tax laws. Besides people come from different backgrounds. Hence it is important that news articles are simplified for their benefit.
I suggest Rediff invites content from tax experts which are later simplified for the common man's understanding. This shoud primarily address the following areas -
The salaried person. The self employed individual. The person having handicapped members in his family.
Explaining the benefits of HUF may be ok but in practice everyone does not adopt this route. This is more for those who are conversant with Income Tax and the business class.
Rediff ppl think dat ppl logging onto a fast medium like net or using websites don't hv common sense.
U actually dont need an expert 2 device this stratergy. Everyone of us reading this artile knows this trick already. Mr. Lakhotia mst hv pumped sm money in ur pocket or u mst hv been short of topics to write in today.
you never mentioned that zerowala is a salaried or doing his own business. i assume he is not a salaried so that can do gifts and all. but the people who peep into this page are basically salaried who will undergo TDS. so dont cheat the innocent (but thinking or trying to become clever) people !!!
RE:Question on author?
by Daniel on Jul 12, 2008 12:28 AM Permalink
suhas, u may b correct. i myself dont know, but now 1 lakh limit can b used for investment in any form like lic, school fees, ulip, elss, ppf, etc. r all these investments debared for huf?
RE:Question on author?
by up down on Jul 20, 2008 09:08 PM Permalink
an HUF can definitely invest into PPF.the exemption for this will be same as mentioned in Income tax act.
