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Showing posts from August, 2012

OWN HOUSE A GOOD INVESTMENT OR NOT...

Only 56 salaried individuals surveyed in the country own a house despite earning more than Rs 10 lakh annually indicating that very few people recognise owning a house as a good investment and tax planning option, according to the latest study. As per the findings of the 'India Tax Ratio 2012' report by TaxSpanner, an online income tax return filing portal, 56 per cent of employees own a house with an annual income of more than Rs 10 lakh and amongst those having an earning below Rs 10 lakh annually, only 13 per cent own a house. Among those with the income of less than Rs 5 lakh only, 6.8 per cent of respondents own a house. The study covered employees from over 500 corporates in major cities, including the Delhi, NCR, Mumbai, Chennai, Bangalore and Hyderabad. "The figures clearly indicate that there are only a few people who recognise owning a house as a smart investment and tax planning option in the beginning of their career. The deductions available to individuals as…