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Income Tax

Income Tax Department
Everything you need to know about income tax in India, straight from the horse's mouth. The official web site of the Income Tax Department is a matter-of-fact compilation, though not exhaustive (according to the disclaimer). You can find out if you've committed an act which is likely to be penalised or understand your rights in case of a raid. You can also download all income tax related forms. If you have any questions or suggestions, write to the department.
http://incometaxdelhi.nic.in/

Lexsite
Lexsite is a huge legal resource network with a finger in the income tax pie. The material is excellent and is available only to members. To sample the resource, register for free and view the Acts, industry features and other value-adds. But the cream is only available for a fee, Rs 5990 for a year. If you're looking for informative material on Income tax statutes, Rules, circulars, case laws, notifications, FAQs and forms, it would be worthwhile to subscribe.
www.lexsite.com

Economic Times
Team ETinvest's focus this season is tax planning. The channel is carrying a series with articles, features and tips on how to save more and hence earn more. The guide is content- rich, readable and very helpful. Get the low-down on how to pay less tax if you're a NRI, a salaried person and more. You can download forms, and also get help on filling them. Besides the routine tax calculator, you also have a HRA, VRS and Budget Impact calculator.
http://www.etinvest.com/ettax/index.html

Bima Online
If you would like to tie tax savings with insurance, go to bimaonline.com. This Insurance major computes your tax liability, and offers tips on better tax management. All savings are in the form of a policy or scheme they have on hand. Better still, they lead you online to their Bima Consultant for specific advise on suitable schemes.
http://www.bimaonline.com/cgi-bin/tax/taxreckoner.asp

Intelligent Investor
Intelligent Investor with its focus on the average individual, is worth frequenting. The salaried and the self-employed have their tax calendar, tax breaks and returns worked out for them. It even tells you how to restructure your salary so that you can keep more of it. Content is simple and focussed.
http://www.iinvestor.com

Times Of Money
All your tax related information, with an important difference. Assess your liability and select your method of savings. Then calculate your earnings on them and invest online in PPF, NSC or others. The site offers assistance in calculating returns, filing them etc, for a fee.
http://www.timesofmoney.com

File My Returns
Modelled on the lines of a FAQ, the site's articles are its mainstay. Their section on women and tax will be of considerable interest to all women, working or otherwise. It has everything on special rebates, planning a child's future and property matters. Learn how to start an office at home and cut tax corners at the same time. Articles on VRS and NRI follow on the same lines.
http://www.filemyreturns.com/fmr/main.htm

Walletwatch.com
Calculating your tax at the micro level is what you have in mind? Walletwatch.com has a variety of tax calculators. Starting with the obligatory income tax calculator, there's a basic and advanced version for salary tax, capital assets and even one for optimising your capital gains. The average individual could do with their information on who is to file returns, on selecting the correct form and the due dates.
http://www.walletwatch.com/sathyamnew/markets/taxation.asp

Indiainfo
Indiainfo offers basic information in an easy-to-understand form. Do you fall under the tax payee bracket at all? If yes, then what percentage are you likely to pay. The standard deductions you are entitled to, rebates for senior citizens and more. NRIs can check on the tax implications of repatriating money to India, double taxation and investment income.
http://tax.indiainfo.com/

Karvy
The Karvy income tax centre is a good way to begin planning your finances. Savings schemes, which help reduce your tax obligations, are tabulated and assessed on their relative benefits. Saral, the IT department's effort towards simplifying filing of returns, is explained here. Also find the locations and addresses of the various Income Tax offices.
http://www.karvy.com/perfin/incometax/incometaxindex.htm

Forms India
Bookmark this site for future use. It's a collection of forms for both business and personal use. Income tax forms are available. And so are passport applications, visa, FEMA, patents, motor vehicle forms and so on. You can download these forms or fill them online. Registration is required.
http://www.formsindia.com/

Compiled by Radhika Peddi
[email protected]

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