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Free tax calculators to get a preview of your 2008 taxes. |
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Browse through topics like PAN, Capital Gains etc..in Q & A form |
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Turning points in the journey of life. |
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Taxes n You |
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Funtaxtic |
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Believe it or not! |
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- The word budget's root word is the French word BOUGETTE, a little bag, once used for pills and medication.
- Tight security: Almost 30 employees of the Finance Ministry press stay inside the ministry building for a week ahead of the Budget presentation. They're not allowed to communicate with the outside world. This is done to ensure that information from the Budget is not leaked out.
- Morarji Desai was the only Indian Finance Minister to have presented two budgets on his birthday, February 29, in 1964 and 1968.
- The world's first documented imprisonment for tax evasion was in 306 A.D. by Emperor Constantine of the Holy Roman Empire.
- The world's first income tax was levied in 1404 A.D. in England (it was so hated that Parliament later had all records of it burned).
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| If you earn interest more than Rs.10,000 from a company in a Financial Year (F.Y.), you need to ask for a TDS certificate (Form 16A) to claim tax credit while filing your return. |
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| "Previous Year" actually means the F.Y. for which you file your return and not the year before that. |
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| To open a time deposit account of more than Rs.50,000 with a Bank you must hold a Permanent Account Number. |
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| If you take a housing loan from a Bank or a Financial Institution, you can claim deduction of principal repayment and interest amounts both. |
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| If you take a housing loan from a person other than a Bank or a Financial Institution, you can claim deduction of the principal repayment amount but not of the interest. |
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Enjoy some fun-filled moments from the world of taxes.
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