With the budget announced last month, we now know the status of new and existing tax free and tax rebate investments for 2013-14, and in this post I’m going to try and list down each and every investment opportunity in India that gives you a tax benefit of some kind.

Before going through the individual investments, let’s take a look at the broad categories where they fall.

  • Tax Free Investments: Tax free investments are those investments where the income earned from them is not taxable. For example, the interest that you earn from a tax free bond is not taxable. There aren’t many such investment options available in India.



The Features of excel utility:

  1. It includes all TDS Rates as per Income-tax Act
  2. Rate of TDS if payee doesn’t furnish his PAN
  3. Exemptions, if any, provided from deduction of tax


Frequently Asked Questions on e-Filing of Tax Audit Report

(Developed by Direct Taxes Committee of ICAI in consultation with the Officials of Directorate of Income-Tax (Systems)

Note: This document deals with those FAQ’s which are not covered in the e-filing portal. The members may visit the for other FAQ’s.


Mandatory e-filing of audit reports

As per Notification No.34/2013 dated 01/05/2013, E-filing of following audit reports shall be mandatory in following cases:

  1. Audit report under Sec. 44AB in respect of books of account;
  2. Audit report under Sec. 92E in respect of international transaction; or
  3. Audit report under Sec. 115JB in respect of MAT computation.


A.   ITR 1 (Sahaj)

 For Individuals with income from :
  • Salary or pension.
  • Rental Income of one house or loss from one house property.


Q 1. What are the modes of filing return of income?

Return of income can be filed in paper mode or in e-filing mode. If return of income is filed through electronic mode, then the assessee has following two options:

  1. E-filing using a Digital Signature
  2. E-filing without a Digital Signature

Financial Management