Important Things to know about Tax Deducted at Source

June 25, 2016  //  Posted by: Suzan  //  Category: Tax

Important Things to know about Tax Deducted at SourceWe always want that some of the other way which can help us in getting down with our tax but in reality that it not considered being the fact right? I know there are many different ways which can help you in getting the information of getting and lowering down your tax so that you can enjoy up the fruit of your money which you have earned for. Well, here comes the importance of tax deducted at source. In simple words we can say that tax deducted at source means that requirement which the salaried person have to pay to the government and which the individual can go for asking it back. Not only is that but the government considered to be liable of paying it back too to the person.

Well, there are many things which can help you in the matters of knowing about tax deducted at source which you must need to understand because it is going to be helpful to you only when you will be in the condition of getting back your money which you paid to the government. Well there are certain important things which you need to take in to account about tax deducted at source like it is being liable to be paid by such individual who are salaried, it is deductible at various rates which are being specified by the government, etc. and many more of the things which is considered to be known by the individual about tax deducted at source which is beneficial to the individual only.

Important things to know about tax deducted at source

  • Well as stated above that there are many things which you need to know about tax deducted at source because it is going to be ultimately beneficial to your which is considered to be in the favour of the individual.
  • We must take that in to consideration that it is going to be deducted from those individual who are earning some of the part and it is considered to be mandate to pay it to the government which they will pay back after sometime to the person who have been paid this amount of they rates which are being decided by the government.
  • Well, tax deducted at source invites to such of the income which are being earned by any of the salaried person which is considered to be mandate thing to be paid to the government. Not only has that but followed up to the specific criteria which are being decided by the government.
  • The deductor is needed to go for filling up the form which is considered to be informative for the government which can help them in getting the information of the money deductor who is paying up the money in accordance to the rates which are being specified by the government. Not only that but there are specified dates which are being decided by the government and only on those days you can go for paying of your tax deducted at source.

Types Of Loans

June 07, 2016  //  Posted by: Crowe  //  Category: Uncategorized

LoanThere are several types of loans, some you might be aware of and some which you are not aware of. Loan is taken when a person is need of money and he does not have but do have a capacity to pay if given time. Thus there can be varied reasons for taking a loan. But when you are taking a loan, you must decide which type of loan you want and which will be the best suited to you. Here are several types of loans with characteristics and their features also know pros and cons of each one of them and then decide which one to opt for.

  • Personal loans

Personal loans are such loans which are very common and it is offered by most of the banks. Such loan can be used for any of the goals. You can use proceeds of this loan for almost any kind of purpose. Personal loans are considered as the unsecured loans and it can range and it can range from few hundred dollars to few thousand dollars. Lender will be checking out for verification or any proof or any asset for the amount which would be equal to your borrowing. Application for such types of loans is generally two pages long and if it is approved then its approval is granted within few days. Interest rate on such types of loans can be pretty much higher. It can be about 10 to 12 %. One of its drawbacks is also that it has to be repaid within a period of two years. Thus you can borrow this loan only when you have a capacity to pay it within this definite period of time. Thus if you are seeking this loan for investing into a large project, you cannot take this loan as large projects take long time to generate money.

  • Credit cards

When any person uses credit card, he just takes a loan which he is promising to pay at some later date. Credit cards are considered to be the most attractive source for getting finance for any individual as credit card is very prevalent in many markets and it is accepted worldwide. If you want to obtain a card, you just need a one page application. The process of credit review is also very much fast. If you have a made a written application it is generally approved within a month or maximum two months. If you see from usage point of view, credit cards are very much flexible.

  • Cash advances

Cash advances are also considered as a type of loan only. It is type of short term loan and it is offered by credit card companies. Cash advances can be quite easy to obtain but of course like other types of loans, there are some or the other drawback to these types of loan. These types of loans are not tax deductible and also the interest rate charges and other related fees can also be quite high. Amount of loans can be hundreds of dollars and hence it can not be used for long term needs of finance.