Manoj Arora's Blog, page 29

What is Notional Rent for your rented house?

If you are someone who has rented out your house, you need to show that
rent as an income along with your other sources of income. The taxation
of your rental income depends on whether you have a loan running against
this rented house or you own it fully. The amount that is considered
for taxation could either be the Notional Rental for that house or your Actual Rent whichever is higher

Seven (7) Income Tax related changes in Budget 2014 that you ought to know

Indian Union Budget 2014 came up with many surprises for an individual tax payer. Here are the 7 (seven) rule changes that you must leverage to the hilt. Remember that increasing the returns on your investments are as important as increasing your income, if not more.





(1)Increase in basic exemption limit

The basic tax exemption limit has been increased from Rs. 2 lakh and Rs. 2.5 lakh

Article # 2 in CWB magazine : From a good life to a great life !!

After the first article was published in the "Complete Well Being" magazine in the July 2014 edition, we got a stupendous response and the magazine wanted us to publish more articles for them. The below article then appeared in the September 2014 edition of the magazine..



Life is good for so many of us...but can life be great ? Can we transform a good life to a great life? What is the

I am not dying ordinary...

We all were born different. We all will die different.

But some sanity may prevail in our lives if we make an attempt to answer some of the "common sense" questions.

So, here you go...

What is more important? Getting a new car, a bigger house or staying in the same old apartment using the same old car but spending that money to taking care of your old parents?
Is your child's Parent

Open your mind : Increasing your income is not the only way to get wealthy.

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Meet another freedom seeker : Mrs. Annapurna Sharma from Gurgaon

Last time, we met a beautiful and dynamic couple who are also managers in a global IT firm in California, USA : Amit and Prerna Raiwho are already on the journey towardsfinancial freedomnow.The response to such posts has been overwhelming. You can read more about their journey and experience till now byclicking here.



In continuation with our effort to interlock you with some common

Do you need a written plan to build wealth?

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How important it is to formally track your monthly expenses?

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How powerful can compound interest be?

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Does NPS investments fall under Section 80C? (QandA : 011)

Question : 011
Does NPS investments fall under Section 80C?
National Pension Scheme (NPS) has been the buzzword of discussions off late. Lot of our readers wrote to us wanting to understand if there are any additional tax benefits of NPS over and above what Section 80C has to offer?

Answer : 011

There are a number of options that people use today to save for their
pension needs, for example