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Banking News

When a Refund Can Be Withheld by IRS ?

When a Refund Can Be Withheld  by IRS ? -  Many of the taxpayers don't receive the refund If you owe money on a education loan or child support, or for past federal taxes. If any of the such situation prevails the refund may be withheld by IRS or Department of Treasury's Bureau of the Fiscal Service. Number of times entire IRS tax refunds are held. Here is the list of situation when a refund can be withheld Pending income tax...

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Income Tax

How o Calculate Stamp Duty Value in Capital Gain Tax ?

How o Calculate Stamp Duty Value in Capital Gain Tax ? - Stamp duty value is the value asses sable by any authority of a State Government for the purpose of payment of stamp duty. Income Tax  section 50C​​ defines that computation of capital gain arises due to transfer of land or building or both, if the actual sale consideration of such land and/or building is less than the stamp duty value, then the stamp duty value will be taken as...

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Income Tax

How To Get Income Tax Rebate on Capital Gains ?

​How To Get Income Tax Rebate on Capital Gains ? - Number of times common Income Tax query regarding Capital Gain Tax " whether any bonds available to claim capital gains tax relief? " As per the notification released by Income Tax  section 54EC  One Can claim Income tax relief by investing the long-term capital gains in the bonds issued by the NHAI or National Highway Authority of India or by the Rural Electrification Corporation Limited (RECL). Read Also : Does...

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Income Tax

Does Rental Income Chargeable under Income Tax ?

Does Rental Income Chargeable under Income Tax ? -  As per the Income Tax Law the Rental income is  charged to the owner under the head “Income from house property”. Read Also : Can I Pay Rent To Parents or Spouse For HRA Benefits? Tenets are free from the charges to the Income Tax from Income from house property. Hence, rental income received by a tenant from sub-letting cannot be charged to tax under the head “Income from house property”. Such income...

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Financial Calculator

DSCR Calculator

DSCR Calculator - Calculate the DSCR i.e. Debt Service Coverage ratio of any loan financed by mortgagor or lending institute like Banks, Housing loan companies etc. Read: How To Calculate and Analyse DSCR ? The Debt Service Coverage Ratio (DSCR) consider all the debt including expenses i.e. interest expense, fund obligation etc. Formula Used to Calculate DSCR DSCR = PAT + Interest + Lease rental + Non cash expenses Installment (Interest + Principal repayment) + Lease Rental Where PAT is the...

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Loan Ratio

How To Calculate Debt Service Coverage Ratio (DSCR) ?

How To Calculate Debt Service Coverage Ratio (DSCR) ? - Debt service coverage ratio (DSCR) a very important rile for assessment in...

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Income Tax

What are the Tax Exemption on Education Loan ?

What are the Tax Exemption on Education Loan ? - If you are having an existing education loan or planning to get a new education loan for your studies, then it is necessary to know the benefit of getting an education loan. The education loan principal as well as the interest are exempted under Income tax with few condition. Let's check the proper way of claiming exemption of Tax on education loan. The education loan consist of two component i.e. Principal as...

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NPS

How Can NRI Invest in NPS ?

How Can NRI Invest in NPS ? -  Recently RBI opens gate of National Pension System (NPS) for NRI's. NPS is the now an investment option for non-resident Indians as well. As per the Pension Fund Regulatory and Development Authority (PFRDA) guidelines NPS is a contributing pension plan up to age of 60 years with minimum contribution of Rs.6,000 in Tier I account where as there is no maximum limit. There are various POP who will invest the amount on your behalf...

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