Tax planning is not just a March activity. For salaried employees, it works best when it starts early in the financial year. If you wait until the last month, you may end up buying a random insurance policy, locking money in the wrong product, or missing simple benefits already available in your salary structure.

The good news is that tax planning does not have to be complicated. You only need to understand your salary, compare the old and new tax regimes, keep proof of your claims, and choose tax-saving options that also support your real life goals.

This guide explains practical tax planning tips for salaried employees in India in simple terms. We have tried to write the article for beginners and general readers who want to save tax without making rushed decisions.

Understand your salary before planning tax

Your CTC and your taxable salary are not always the same. CTC may include employer PF contribution, gratuity, insurance, bonuses, reimbursements and other benefits. Your taxable salary is calculated after considering allowed exemptions and deductions.

Start by reading your salary slip. Look at basic salary, HRA, special allowance, employer PF, professional tax, bonus and reimbursements. This tells you which tax benefits you can actually use.

For example, if you live in a rented house and receive HRA, the old tax regime may allow you to claim HRA exemption. But if your salary has no HRA component, you cannot claim it in the same way.

Compare old and new tax regime

This is the biggest decision for salaried employees.

The new tax regime has lower slab rates and is now the default option. It also gives salaried employees a standard deduction of Rs. 75,000. For normal income, the rebate benefit can make tax payable zero up to Rs. 12 lakh of taxable income under the new regime, and for salaried people the standard deduction can push the practical salary level higher. But special-rate income such as some capital gains may be treated differently.

The old tax regime still matters if you have enough deductions and exemptions. It allows benefits such as HRA, Section 80C, Section 80D, home loan interest, LTA and some other claims.

A simple way to decide is this – if you do not claim many deductions, the new regime may be better. If you pay rent, invest regularly, have health insurance, pay home loan interest and use NPS, the old regime may still save more tax.

Use Section 80C wisely

Section 80C is one of the most used tax-saving routes under the old tax regime. The limit is Rs. 1.5 lakh in a financial year.

Common options include EPF, PPF, ELSS mutual funds, life insurance premium, National Savings Certificate, tax-saving fixed deposits, Sukanya Samriddhi Yojana and home loan principal repayment.

Do not invest only because it saves tax. Match the product with your goal. If you want long-term retirement money, PPF or EPF may work well. If you can take market risk for long-term growth, ELSS may be suitable. If you need safety, a tax-saving FD may feel more comfortable, though it has a lock-in period and interest is taxable.

Claim HRA if you live on rent

House Rent Allowance can reduce taxable salary under the old tax regime if you are a salaried employee, receive HRA, and pay rent.

Keep rent receipts, rent agreement, bank transfer proof and landlord PAN if annual rent is above the required reporting limit. Paying rent in cash without proper records can create trouble later.

Here is a practical example. Suppose Priya works in Pune and pays Rs. 22,000 monthly rent. Her salary includes HRA. If she chooses the old regime, she should calculate HRA exemption and submit rent proofs to her employer on time. If she forgets, she may still claim it while filing ITR, but it is easier when payroll records are clean.

Do not ignore health insurance

Medical costs can disturb a household budget very quickly. Under the old tax regime, Section 80D allows deduction for medical insurance premium, subject to limits and conditions.

A salaried employee can claim health insurance premium for self, spouse, dependent children and parents. Higher limits are available where senior citizen parents are involved.

This is one tax-saving step that also has real-life value. A basic family floater and separate cover for parents can be more useful than buying another product only for deduction.

Use NPS if retirement saving fits your plan

The National Pension System can help salaried employees build retirement savings. Under the old regime, an extra deduction of Rs. 50,000 is available for eligible self-contribution under Section 80CCD(1B), over and above the Section 80C limit.

Employer contribution to NPS can also have tax benefits within prescribed limits. This can be useful for people in higher salary brackets.

But NPS is a retirement product. It has withdrawal rules and a long-term structure. Use it if you are comfortable keeping money locked for retirement, not just because it lowers tax this year.

Check your salary structure with HR

Many employees miss tax benefits because their salary structure is too plain. Depending on company policy, components such as meal benefits, phone and internet reimbursement, fuel reimbursement, leave travel allowance and NPS employer contribution may help reduce taxable income.

This does not mean every employee should ask for every component. Keep it practical. If you work from home and use your own broadband, a proper reimbursement policy can help. If you travel with family and your company offers LTA, plan it with records.

Salary restructuring works best at the beginning of the financial year, not after payroll has already closed.

Keep proofs ready through the year

Tax planning fails when documents are missing. Keep a small folder for rent receipts, insurance premium receipts, donation receipts, home loan certificate, tuition fee receipts, investment statements and Form 16.

Also check Form 26AS, AIS and TIS before filing your return. These statements show tax deducted, interest, dividends and other reported financial details. If something is missing or wrong, fix it early.

For example, if your bank has reported FD or RD interest and you forget to include it, your return may not match the tax department’s data. Small misses can lead to notices later.

Plan bonuses and capital gains carefully

Salary bonus is taxable, but you can still plan the year better. If you expect a large bonus, review your regime choice, advance tax position and deductions early.

If you also invest in shares, mutual funds or crypto assets, remember that capital gains may have separate tax treatment. Do not assume your salary tax calculation covers everything.

A salaried employee with mutual fund redemptions should download the capital gains statement before filing ITR. This is especially important because ITR-1 may not be suitable if you have capital gains.

Avoid last-minute tax-saving mistakes

The most common mistake is buying life insurance without understanding returns, cover and lock-in. Insurance should first protect your family. Investment should help your goals. Mixing both without checking costs can hurt returns.

Another mistake is choosing the old regime just because deductions sound attractive. If your deductions are small, the new regime may still be better.

Also avoid fake rent receipts, inflated donation claims and wrong deductions. Saving tax is good. Creating future stress is not.

Conclusion – Key takeaways

Tax planning for salaried employees should be simple, early and honest. First understand your salary. Then compare old and new tax regimes with your actual numbers. Use 80C, HRA, 80D, NPS and home loan benefits only where they fit your life.

The new tax regime may suit employees who want fewer claims and lower rates. The old regime may suit those with rent, investments, insurance, home loan and other eligible deductions.

The smartest tax plan is not the one that gives the biggest deduction on paper. It is the one that saves tax, keeps records clean, and supports your money goals.

Filing an Income Tax Return can feel confusing when you see words like AIS, Form 26AS, ITR-3, ITR-5, tax audit and e-verification on the same screen. But the basic idea is simple. You report your income, claim the deductions allowed to you, pay any pending tax, and submit the return to the Income Tax Department.

This guide explains how to file Income Tax Return 2026 in India for individuals and firms in a plain, step-by-step way. For 2026 filing, most people are filing for Financial Year 2025-26 and Assessment Year 2026-27.

The rules may look technical, but if your documents are ready and you choose the right ITR form, the process becomes much easier.

Who needs to file ITR in 2026

You should file an Income Tax Return if your income is above the basic exemption limit, if tax has been deducted and you want a refund, if you want to carry forward losses, or if you have certain high-value transactions, foreign assets, business income, capital gains, or professional income.

Firms generally need to file their return even if there is a loss. For businesses, ITR is also useful for loan applications, tenders, investor checks, visa work, and keeping clean financial records.

For example, if a salaried person earned Rs. 8 lakh and TDS was deducted by the employer, filing ITR helps confirm the final tax position. If extra TDS was deducted, the person can claim a refund. Similarly, a small partnership firm with Rs. 35 lakh turnover under presumptive taxation may need to file ITR-4 if it meets the conditions.

Important due dates for ITR 2026

For Assessment Year 2026-27, the common due date for individuals and non-audit cases is 31 July 2026, unless the government extends it.

For taxpayers whose accounts need audit, the usual due date is 31 October 2026. For cases involving transfer pricing reports, the due date is generally 30 November 2026.

Do not wait for the last day. The portal may work fine, but mistakes happen when you rush. Also, late filing may bring fees, interest, delayed refunds, and loss of some benefits such as carrying forward certain losses.

Choose the right ITR form

This is where many people make mistakes. The form depends on your income type, not just your job title.

1. ITR-1 is usually for resident individuals with income up to Rs. 50 lakh from salary or pension, one house property, other sources such as interest, and agricultural income up to Rs. 5,000.
2. ITR-2 is for individuals and HUFs who are not eligible for ITR-1 and do not have business or professional income. It is commonly used when there are capital gains, more than one house property, foreign assets, or income above Rs. 50 lakh.
3. ITR-3 is for individuals and HUFs with income from business or profession.
4. ITR-4 is for eligible individuals, HUFs and firms, excluding LLPs, using presumptive taxation and having total income up to Rs. 50 lakh.
5. ITR-5 is generally used by firms, LLPs, AOPs, BOIs and similar entities.
6. Companies usually file ITR-6, unless they fall under a special exempt category.

A simple example helps. A freelance designer earning professional income may need ITR-3 or ITR-4, depending on whether presumptive taxation is used. A salaried employee who also sold shares and made capital gains will usually need ITR-2, not ITR-1.

Documents to keep ready

Before logging in, collect your papers. It saves time and reduces errors.

Keep PAN, Aadhaar, bank account details, Form 16, Form 16A if applicable, salary slips, rent receipts, home loan interest certificate, insurance and investment proofs, donation receipts, capital gains statements, bank interest certificates, GST details if applicable, books of accounts, audit report if needed, and loan statements.

Also download and check AIS, TIS and Form 26AS from the income tax portal. These statements show details such as TDS, TCS, interest income, dividends, securities transactions, tax payments and other reported financial activity.

Do not blindly trust pre-filled data. It is helpful, but it can be incomplete or mismatched. If your bank FD interest is missing or your broker capital gains statement differs from AIS, check the numbers before filing.

Step-by-step process to file ITR online

• First, visit the official income tax e-filing portal at incometax.gov.in and log in with your PAN or Aadhaar. If you are a new user, register first and link the required details.
• Next, go to the income tax return filing section and select the correct assessment year. For income earned in FY 2025-26, choose AY 2026-27.
• Now select filing mode. Many simple returns can be filed online. For more detailed returns, offline utilities may be used and then uploaded.
• Choose the right ITR form. Read the eligibility carefully. If you choose the wrong form, your return may become defective and you may have to correct it later.
• Check personal details such as name, PAN, Aadhaar, address, mobile number, email and bank account. Make sure your refund bank account is validated.
• Then review income details. For individuals, this may include salary, house property, capital gains, interest, dividends, freelance income or business income. For firms, this may include sales, expenses, partner details, profit distribution, depreciation, loans and balance sheet information.
• After that, enter deductions and exemptions only if you are eligible. Under the old tax regime, common deductions may include Section 80C, 80D, 80G and home loan-related claims. Under the new tax regime, many old deductions are not available, so compare both before choosing.
• Now calculate tax. If tax is still payable, pay it as self-assessment tax through the portal and enter the challan details. If the return shows a refund, check your bank details again.
• Before submitting, preview the return. Match income with AIS, TIS, Form 26AS, Form 16 and your own records. Small items like savings account interest are easy to miss.
• Finally, submit the return and e-verify it. Filing is not complete unless the return is verified. You can usually e-verify through Aadhaar OTP, net banking, bank account, demat account or Digital Signature Certificate. Firms and audit cases may need DSC depending on the category.

For firms and small businesses

Firms should be more careful with books, partner details, capital accounts, loans, GST turnover, TDS, depreciation and audit requirements. A small firm using presumptive taxation may have a simpler return, but an LLP or audited partnership will need more detailed reporting.

If the firm has GST registration, match sales with GST returns. If TDS has been deducted by clients, match it with Form 26AS. If the firm has paid contractors, rent, commission or professional fees, check whether TDS compliance is required.

For example, if a partnership firm receives Rs. 48 lakh from consulting work and chooses presumptive taxation, ITR-4 may apply if all conditions are met. But if it is an LLP, ITR-4 will not apply and ITR-5 is generally used.

Official portal or private tax filing platforms

The official income tax portal is the main place to file returns. It is free and directly connected to the department.

Private platforms such as ClearTax, TaxBuddy, Quicko and other tax filing services can help with guided filing, capital gains calculations, CA-assisted filing and business returns. They are useful if your return is not simple, but the responsibility for correct information remains with the taxpayer.

For a simple salary return, the official portal may be enough. For business income, capital gains, F&O trading, foreign assets, LLPs or tax audit cases, professional help is often worth the fee.

Common mistakes to avoid

• Do not pick ITR-1 just because it looks simple. If you have capital gains or business income, it may not be the right form.
• Do not ignore AIS mismatches. If AIS shows interest, dividend or securities transactions, check and report the correct figures.
• Do not forget to e-verify after submitting. An unverified return is like an unfinished job.
• Do not inflate deductions to get a bigger refund. Wrong claims can lead to notices and stress later.
• Do not file too early if your Form 16, AIS or broker statements are not updated. A few extra days of checking can save weeks of correction.

Conclusion – Key takeaways

Filing Income Tax Return 2026 in India is not difficult if you follow the process calmly. Start with the right assessment year, choose the correct ITR form, match your income with AIS and Form 26AS, pay any pending tax, submit the return, and complete e-verification.

Individuals should focus on salary, capital gains, interest, deductions and tax regime selection. Firms should pay extra attention to books of accounts, audit rules, GST data, TDS and the correct ITR form.

The best practical advice is simple – keep records ready, file before the due date, and do not guess where tax rules are unclear. A clean return is always better than a rushed refund claim.

Facts Input- IT Dept

Health insurance plan can be subscribed to get protection from various kinds of ailments and diseases. Health insurance policies are offered for newborn babies and children by various insurance companies. The life insurance plan covers the death while the health insurance covers the hospitalization. The healthcare costs are increasing in India and a caring parent should choose the best policy to offer best protection for the child. Even though you are covered by a medical insurance offered by your employer, you should go for an additional policy as per your needs.

Purpose of health or medical insurance

Health insurance will cover eventualities such as surgery, hospitalization and medical treatment. There is a difference between Mediclaim policy and health insurance. The Mediclaim is limited to the hospitalization cost. You will want to claim the medical expenses towards the treatment and the insurance company will reimburse the amount.

With the health insurance plan, you will get additional benefits. The health insurance plan will cover the medical consultation fee, medical bills, cost of diagnosis, treatment cost, boarding charges, ambulance charges, pre-hospitalization & post-hospitalization expenses. Hence, it is a comprehensive policy to take care of your health in the best possible way.

There are some life insurance products which offer medical treatment coverage due to accident or sickness. The insurance company will pay lump sum amount and it will be helpful for treatment.

Benefits of health insurance

The following benefits are enjoyed by buying a health insurance policy from a reputed health insurance company which shows Why you need to get your children insured?

• Sufficient health cover – The health insurance cover offered by the corporate health cover will be insufficient to meet your children’s needs. The insurance plan offered by the employer will cease to exist as soon as you quit the job. Hence, you should want to buy a comprehensive health insurance plan.
• Ability to deal with life-threatening diseases – The number of children being treated for life-threatening diseases is increasing at a constant pace. The risk to various kinds of diseases such as anthrax, dengue, measles, rubella, viral hepatitis, mumps and acute diarrhea disease has increased in the past few years. The health insurance is a great option to fight deadly diseases. Even though the medical facilities are available, they are very expensive. With the help of a comprehensive medical insurance policy, you will get treatment and it is possible to save your child. The family will survive the financial hardship as the medical treatment cost will be borne by the insurance company.
• Healthcare planning – Your child’s health may be spoiled due to accident or injuries. If there is medical emergency, it will be borne by the health insurance company when you subscribe to the best plan. The health care planning and financial planning is essential so that you can live with great peace of mind.
• Income tax benefits – The premium paid towards the child health insurance plan will be exempted under the Section 80D of the income tax act. If you subscribe to a health insurance plan, you will get tax exemption up to Rs. 25,000 in a financial year.
• Additional benefits – In addition to the cost of treatment, you will also get additional benefits with the subscription of medical insurance plans in India. The additional benefits include daily cash allowance, recovery expense, and domiciliary treatment. You can also get additional benefits by customizing the plan as per your needs. Some insurance companies offer attendant benefit, alternative treatment and domiciliary hospitalization.
• Lifelong renewal – some health insurance plans are offered with lifelong renewal option. If you do not claim the policy in the previous year, you will get no-claim bonus.

Individual health insurance plan

You can buy an individual health insurance plan as per the needs of your child. If there are some hereditary health risks, you can choose a plan to include those risks. The sum assured will be in between Rs. 1.5 lakh to Rs. 50 lakhs. The individual health insurance plan covers the pre-hospitalization and post-hospitalization expenses.

Most of the insurance companies cover 60-days pre-hospitalization and 90-day post-hospitalization expenses.

You will get access to a network of hospitals managed by the insurance company. You can choose the policy term for 1, 2 or 3 years with a lifelong renewal option. When you buy an insurance policy at a young age, the premium will be very low.

Family floater insurance plan

The family floater plan is an affordable health insurance option. It is possible to cover all the family members with the help of the family floater plan. The insurance premium will be very low. The sum assured can be utilized by one or all the family members. Hence, one or more children plus parents are accommodated in the health plan. You can also include your parents in the family floater plan. However, the insurance premium will be high for senior citizens. Hence, instead of including parents who are above 60 years of age under your family floater plan, you can buy a separate policy.

Top up insurance plans

It is possible to subscribe top up plans so that the insurance coverage will be enhanced. Instead of buying another insurance policy, you can choose a top-up plan. Terminal illnesses such as cancer and AIDS are not covered by a basic health insurance policy. By choosing top up plans, you can get additional benefits. You can also subscribe to super top-up plans to make the most of your health insurance plan.

You should buy the health insurance plan by offering correct information to the insurance company so that your claim will not be rejected by the insurance company. You should also choose the most appropriate policy as per your child’s needs.

Conclusion

You can go through the various kinds of health insurance plans offered different insurance companies. The insurance plan that offers best features at a low premium can be selected so that you can cover various kinds of health-related risks very easily. A health insurance plan can be subscribed online and you will get assistance with claim reimbursement and 24/7 assistance.

Please refer other financial news in Newskart at Business & Finance section, also know top 20 General Insurance and Life Insurance companies in India.

Proper Tax Planning not only reduces the amount of Income Tax that you are liable to pay but it also encourages you to save and invest your money so that you can fulfill your financial goals. There are a number of ways by which you can minimize the burden of Income Tax on you.  Here you will find the best five investment options for saving tax.

Equity Linked Savings Scheme

Equity Linked Savings Scheme or ELSS is considered as one of the best Tax saving options in terms of returns, liquidity, transparency, and taxability of income. The average returns from the ELSS category in last three years have been around 17.8%.

There is quite a high amount of risk involved with ELSS funds. But if you look at the long-term picture of 3 to 5 years of investment, you will find that ELSS funds have outperformed any other investment instruments in the market.

ELSS, however, is not the best option for everyone. Retired taxpayers, for instance, should prefer other tax saving instruments over ELSS. The best option for them is to invest in senior citizen saving’s scheme or in immediate Annuity Pension plans as there is less risk involved with them.

Unit-Linked Insurance Plans

Unit-Linked Insurance plans or ULIPs are the second best Tax saving options after ELSS. It has given 9.8% returns in the past three years. ULIPs are insurance cum investment products offered by Life Insurance Companies. They are cheap and offer greater flexibility to switch between funds.

All reputed Life Insurance providers in India offer ULIP products. The best part of ULIP products is that it offers life coverage. In case of the policyholder’s death, a ULIP pays out the sum assured to the nominee chosen by the Life insured.

Being market-linked products, ULIPs also involve certain amounts of risk. But if you have a good understanding of market timing, you can switch fund from equity to debt or vice versa. Moreover, you can enjoy absolute tax exemption under section 10(10d).

National Pension Scheme

National Pension Scheme or NPS is the third best tax saving options in our list.  NPS has become more attractive among taxpayers after the budget 2017-18 as it has offered an additional tax deduction of Rs. 50,000/- . Moreover, the fund managers are now allowed to invest more and more in stock which is expected to give better returns.

In the last three years, the NPS returns have been 9.5% which is quite an attractive number for encouraging more investment in this scheme.

The only downside of NPS is that the annuities you receive after the maturity of the scheme are taxable. However, requests have been made and the Government is considering income tax exemption for NPS annuity income.

Pension Plans

Retirement plans are the best tax saving options for you if you are on the verge of retirement. Pension plans allow you to save for your post-retirement life.  It allows you to maintain a regular flow of income while providing comprehensive life cover.

Pension plans are good investment option as shows the last three years’ return rates. Pension plans can get you 7% returns, if not more. Moreover, you can enjoy tax benefits and other benefits by investing in a pension plan.

The only problem with Pension schemes is that they are expensive. So if you want a cheaper option, go for mutual funds. Pension plans launched by mutual funds are cheaper than those offered by Insurance companies.

Child Education Plans

If you are concerned about your child’s higher education, you should invest in a child plan. Child education plans offer risk coverage on the life of the child while bearing the cost of his or her higher education.

Child education plans guarantee that your child’s education never gets hampered in case of any unfortunate event in the future. If you die before the completion of the policy, the insurer will pay all future premiums on your behalf till the date of maturity.

Child education plans are offered by most of the life insurance providers in India. Though many people are of the opinion that insurance plans are not good investment options in terms of returns, but child education plans are worth investing because of the benefits they provide.

There are a lot of other options where you can invest your hard earned money. But in our opinion, the ones discussed above are the best investment options that you can consider for growing wealth as well as for saving tax.

TDS (Tax Deduction at Source) could be part of Income in turn income tax that is already paid by the assessee whether an assessee is eligible for the income tax or not whereas an income tax is a tax that government imposes on financial income generated by any individual or firm which is a key source of capital that the government uses to fund its activities and serve the public.

There is some difference in computation part, i.e. TDS is deducted before the income reaches to any individual or entity which then after can be calculated and if over taxed then it can be refunded.

The Central Board of Direct Taxes (CBDT) regulates the policy and planning of taxes. CBDT is also responsible for administering the direct tax laws through the IT (Income Tax) Department. In addition to the collection of taxes, the IT department is also involved in prevention and detection of tax avoidance.

What is Income Tax?

The Income Tax Act, 1961 regulates the collection, recovery, and administration of income tax in India. It is a compulsory contribution levied on individual’s personal income as per his/her earning which is divided into different slab percentage according to which the money gets deducted after all the exemptions from your gross income.

Income Tax is paid on the annual income where taxes are computed for a particular financial year.

What is Tax Deducted at Source (TDS)?

TDS is a part of income in turn Income-tax that is already paid by the deductee whether a deductee is eligible for the income tax or not which can be set off against Income tax and balance tax liability to be paid. Necessary adjustments of TDS are done while filing Income Tax return and in case any excess amount is deducted or over taxed then that can be claimed to refund.

TDS aims to collect tax from the very source of income. A person (deductor) who is liable to make payment of specified nature to any other person (deductee) shall deduct tax at source and remit the same into the account of the Central Government. The deductee from whose income tax has been deducted at source would be entitled to get credit of the amount which deducted on the basis of Form 26AS or TDS certificate issued by the deductor.

TDS can be deducted from Income from salary, income from any commission, professional fee, interest from FD and many other income sources etc. so tax deduction at the point of generation of income is known as Tax Deducted at Source or TDS and the same is deposited to the Income Tax department of the concerned area. It is deducted at source on a periodic basis say quarterly in the particular year for the salaried individuals and for others it is deducted on each set of incomes and then can be claimed.

StartupIndia scheme is a golden scheme launched by Government of India under MINISTRY OF COMMERCE AND INDUSTRY to promote and grow the startups in India.

Government of India has introduced very efficient policy to support startups & new business ventures with creative & innovative ideas.

StartupIndia is a campaign to promote banks for financing new ventures to encourage entrepreneurship and star ups with jobs creation. Announced by hon’ble Prime Minister Narendra Modi in his lecture on 15th August, 2015 from the Red Fort, to encourage entrepreneurs for creating jobs instead of doing jobs and increase employment in India.

The purpose of this Scheme is to restrict role of States in policy domain and to eliminate of “License Raj” and break hurdles like in land permissions, foreign investment, environmental clearances, political interferences etc. It was regulated by DIPP (Department of industrial policy and promotion).

1. Incorporate your Startup/Business

You must first incorporate your business as a Private Limited Company or a Partnership firm or a Limited Liability Partnership. You can refer our earlier post to get the help on Incorporating a company.

2. Register with Startup India

Go to StartupIndia website and follow the simple steps to get registered there as a startup. The entire process is simple and online. All you need to do is log on to the Startup India website and fill up the form with details of your business and upload certain documents. Give entity details, startup office address, authorized representative details, Directors and Partners details etc.

3. Documents in PDF format to be uploaded

A) A letter of recommendation/support

A letter of recommendation, from any of the below, needs to be submitted along with the registration form.(i) A recommendation (regarding innovative nature of business) from an Incubator established in a post-graduate college in India, in a format specified by the Department of Industrial Policy and Promotion (DIPP)

(ii) A letter of support by an incubator, which is funded (in relation to the project) by Government of India as part of any specified scheme to promote innovation

(iii) A letter of recommendation (regarding innovative nature of business), from an Incubator, recognized by the Government of India in DIPP specified format

(iv) A letter of funding of not less than 20% in equity, by any Incubation Fund/Angel Fund/Private Equity Fund/Accelerator/Angel Network, duly registered with SEBI that endorses innovative nature of the business

(v) A letter of funding by Government of India or any State Government as part of any specified scheme to promote innovation

(vi) A patent filed and published in the Journal by the Indian Patent Office in areas affiliated with the nature of the business being promoted.

B) Incorporation/Registration Certificate

You need to upload the certificate of incorporation of your company/LLP (Registration Certificate in case of partnership)

C) Description of your business in brief

A brief description of the innovative nature of your products/services.

1. If you want to avail Tax benefits under this scheme: Startups are exempted from income tax for 3 years. But to avail these benefits entity must be certified by the Inter-Ministerial Board (IMB). Start-ups recognized by DIPP, Govt. of India can now directly avail IPR related benefits without requiring any additional certification from IMB. There are certain other conditions as well like the entity must be incorporated on or after the 1st day of April, 2016 but before the 1st day of April, 2019, and must be working towards innovation, development or improvement of products or processes or services, or should be a scalable business model with a high potential of employment generation or wealth creation.
2. Finally self-certify for below steps-
   A) Entity must be a Private Limited Company, Partnership firm or a Limited Liability Partnership (LLP) B) Turnover must be less than 25 crores per year. C) Innovation is a must– the business must be working towards innovating something new or significantly improving the existing used technology. D) Your business must not be as a result of splitting up or reconstruction of an existing business.

Apart from the tax benefits startups get after registering in this program, startups also get funding support. Government has set up a fund with an initial corpus of INR 2,500 crore and a total corpus of INR 10,000 crore over a period 4 years (i.e. INR 2,500 crore per year) for the registered startups under StartupsIndia program.

Recently, SEBI has also taken steps to ease Angel Funding for Startups in India. You can follow the above steps to register your startup.

Other than this, there are certain Startup laws every Entrepreneur should follow.

CBDT (Central Board of Direct Taxes) has introduced new income tax return forms (ITR forms) for the assessment year 2018-19 which seek more details from individual taxpayers about their salary structure, break ups and income from property.

It has also made mandatory for small businesses to report their goods and services tax identification number (GSTIN) and turnover reported under GST.

The new ITR forms require salaried taxpayers to disclose their salary break-up. Taxpayers will have to give details about allowances that are not exempt, value of perquisites, profit in lieu of salary and deductions claimed under Section 16. Typically, these are available in the Form 16 issued by the employer but do not have to be disclosed in the tax return.

Like last year, the one-page ITR-1, or Sahaj, form can be filled by salaried taxpayers having an income up to Rs. 50 lakh and one house property. Last year, 30 million taxpayers filled this form, the tax department said in a statement.

Businesses with a turnover of less than Rs. 2 crore can do away with the requirement of maintaining books of accounts and instead pay a tax on the basis of a certain percentage of their turnover. However, the government fears that there has been misuse of the scheme.

The forms give non-resident Indians (NRIs) some relief. They can now provide details of their foreign bank accounts to claim credit or refunds. Earlier, they could only provide details of bank accounts held in India.

However, NRIs will no longer be able to file returns using the simple income tax return (ITR)-1 form, which can now only be used by residents. NRIs will have to use ITR-2, which seeks more information.

Types of ITR forms

• ITR-1 SAHAJ

  – For individuals being a resident other than not ordinarily resident having Income from Salaries, one house property, other sources (Interest etc.) and having total income up to Rs.50 lakh

• ITR-2

  – For Individuals and HUFs not having income from profits and gains of business or profession

• ITR-3

  – For individuals and HUFs having income from profits and gains of business or profession

• ITR-4-Sugam

  – For Presumptive Income from Business & Profession

• ITR-5

  – For persons other than,- (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7

• ITR-6

  – For Companies other than companies claiming exemption under section 11

• ITR-7

  – For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) or 139(4E) or 139(4F)

The new ITRs have been uploaded on the official website of the department–incometaxindia[dot]gov[dot]in.

The last date for filing the ITRs is July 31.

Income tax is a tax that governments levy on the financial income generated by the different establishments in their jurisdiction. The funds thus obtained are used to finance its various functions. There are two types of taxes-Direct and Indirect. Income tax is a direct tax and other taxes like VAT, Service tax, Goods and Service tax are indirect taxes.

Taxes provide financial stability that is helpful in even distribution of wealth among the people of the country. Taxes play an important part in withstanding the upheavals of the economic cycles. The guidelines for the payment of income tax are based on the guidelines of the Income Tax Act.

As per this act, income from these sources can be taxed-

• Salaries
• Capital gains
• Income from house/property
• Profits from profession or business
• Income from other sources

Sum of income from all these sources is estimated as per the Income Tax Act. The tax rates are based on the earnings of a person and are termed as Income Tax Slabs. The Income Tax rates are revised every year during the budget.
Income tax is calculated yearly. Financial year begins on the 1st of April in a given year and ends on the 31st March the following year. Tax is imposed on the income earned in the previous year which is called as Assessment year.

The income tax deadlines for the financial years are-

• 31st July- The last date of filing returns for non-audit cases
• 30th September –The last date of filing returns for audit cases.

Filing of Income Tax for Salaried Persons

People earning income can file the income tax returns as per Form 16. The details of income are mentioned in Form 16 issued by their employers.

Income Tax Returns (ITR)

Tax Returns are a statement of earnings from different sources of income and these include tax liability, details of tax paid and other refunds that they should get from the government.

Late Filing of Income Tax Return

Income Tax Returns should be filed before the deadline to avoid the penalty for non-filing of tax returns.

The clause ‘losing relief in case return not filed within due date’, was apparently not completely and clearly understood by the people and they concluded that complete Chapter VI A deduction is covered. The general public seems to have understood that deduction u/s 80C (payment of School Fee/LIC/PPF), 80G (Donations), 80D Mediclaim, 80TTB & 80TTA (interest from the bank) will no longer be allowed if the filing of the Income Tax Return is done after the due date. This is not true as only Part C of Chapter VIA is included in the budget proposal.

There are chances of loss of relief in case of some incomes mentioned in Part C and this is when the ITR is filed after the due date. The relief permitted under the other four parts will remain undisturbed by the proposed amendment. The Chapter VIA of the Income Tax Act 1961 covers the “Deductions to be made in Computation of Total Income”.

There are five parts to this chapter.

• Part A is General and covers Sections 80A, 80 AB, 80AC, and 80B.
• Part B covers deductions in respect of some payments (containing Sections 80C to 80GGC)
• Part C includes deductions in respect of some incomes (this includes Sections 80H to 80TT)
• Part CA covers deductions with respect to other incomes (covering Sections 80TTA and projected 80TTB)
• Part D includes other deductions (covering Sections 80U).

Payments of Life Insurance Premiums, investing in school fee, provident fund, health insurance, medical treatment, preventive health check-up, interest for loans taken for house property/education, charity given to some institutions, rent paid, and political parties etc. are included in Part B of Chapter VIA and will remain unaffected by the proposed amendment. This amendment will not affect the deductions of Bank interest u/s 80TTA and proposed 80TTB and person with disability u/s 80U will remain unaffected by this amendment.

As per this proposed amendment, the people who are eligible to claim deductions covered in these sections only will not get deductions under Part C of Chapter VIA if their IT return is filed after the due date. This includes Section -80-IAC, Section 80-IBA, Section -80JJA, Section 80LA, Section 80P, Section 80 QQB, Section 80 RRB.

The following sections under Part C of the chapter VIA have been in force under section 80A I case of filing IT Return after the due date. These are Section 80IA, Section -80-IAB, Section 80-IB, Section -80-IC, Section-80-ID, and Section-80-IE.

A study of Part C shows that even though this part had 41 sections only 14 are applicable in the present context. Thus the general public should not feel anxious about losing the deductions available to them under Part B, CA and D even if they file the Income Tax Returns after the due date but prior to the relevant Assessment year or before completion of the assessment whichever takes place earlier.

Financial year FY 2018-19 started and the new budget brought some changes to income tax laws for this year. We must be aware of these changes and should plan our taxes and investments accordingly. There are some relief points and some pains in this Budget. Let’s see the top 10 changes Budget 2018 made & all of these changes are applicable from April 1, 2018.

1. Transport Allowance & Medical Reimbursement not Tax Exempted

The Transport Allowance & Medical Reimbursement are no longer tax free. Currently the transport allowance was tax free up to Rs 19,200/- and medical reimbursement up to Rs 15,000/- so free from submitting above bills to the employers.

2. Standard Deduction of Rs. 40,000/- for salaried persons

A standard deduction of Rs. 40,000/- for salaried tax payers as well as for pensioners too. This deduction can be availed without submission of any proofs.

If point #1 is considered and subtracted from this deduction then there would be additional Rs. 5,800/- tax exemption for the salaried persons.

3. Cess hiked to 4% and named as Health and Education Cess

From FY 2018-19 the existing Cess of 3% (Education, Secondary and Higher Education Cess) has been increased to 4% and named as Health and Education Cess.

4. Reintroduction of LTCG on stocks and equity based mutual funds

Budget 2018 has reintroduced long term capital gains (LTCG) tax of 10%+Cess (i.e. 10.4%) on gains made of sale of equity or equity oriented mutual funds. To qualify for long term capital gains the stocks/mutual fund should have been held for at least 1 year. Capital gains up to Rs. 100K are tax free.

5. Dividend distribution tax on Equity mutual funds

The dividends from equity mutual funds would attract dividend distribution tax of 10%. However the dividend received would be tax free in hands of investor. This will affect schemes that were distributing dividends as a strategy.

6. Increased tax exemption upto Rs. 50,000/- on interest income for senior citizens

As per New section 80TTB, senior citizens would be able to claim interest income up to Rs 50,000/- as tax exempted income.

7. Tax deduction for Single Premium Health Insurance Premium

If you buy single premium health/medical insurance policy covering multiple years say for 5 Years then the  the tax exemption u/s 80D would be available proportionately for all the years.

8. Long Term Capital Gains Bond only eligible for capital gains from property

The long term capital gains tax exemption by investing in long term capital gains bond from specified companies (NHAI, REC or PFC) u/s 54EC would only be available for capital gains from sale of property including land, residential or commercial building.

9. Tax exemption on NPS for the Self-Employed

Till now, employees contributing to the National Pension System (NPS) were allowed to withdraw up to 40% of the total corpus without any tax at the time of maturity or closure of the account. The same benefit has now been extended to self-employed subscribers.

10. Senior citizens get Rs 20,000/- additional deduction on health premiums

Senior citizens will get a deduction for health insurance premium under section 80D of Rs 50,000/- up from Rs 30,000/- last year. There is also a hike in the deduction limits for medical costs on specified critical illnesses from Rs 60,000/- – Rs 80,000/- for senior citizens and Rs 100,000/- for very senior citizens who are 80 years and above.

Now-a-day there are number of startups opening and gaining success as well worldwide. Either it is online or offline, all the businesses and startups have to follow some/all of the guidelines laid out by their governments and related ministries/offices in their respective countries.

Register A Company or Startup Online In India

In India, registering a company or startup or any business has become quite easy. First and foremost, there are some official procedures a startup or a business has to follow in order to register them in Indian official records. MCA (Ministry of Corporate Affairs) is the central point where all the businesses/startups falls in and gets their registrations done.

Types of companies to register in India

1. Private Limited Company
2. Limited Liability Partnership (LLP)
3. One Person Company (OPC, this is also a private limited company with one person as Director)
4. Sole Proprietorship
5. General Partnership

From above types of entity registration, if you have a startup in which you need to raise funding in future through equity as the most preferred way, entrepreneurs have the option to get private limited company registered which limits the liability as well.

Process to register a company

MCA in recent days made it very simple to register any startup or business as a company in a few days only whereas it was very cumbersome few years back. Companies in India are registered with the Registrar of companies(ROC) under Companies Act 2013. Please find below on how to go about these processes when you want to register your company-

• You can apply for registration just sitting at home. The registration includes some must follow rules and some registration like Digital Signature Certificate (DSC), Director Identity Number (DIN) and filing for an e-form.
• These are four major steps:

• Acquiring Digital Signature Certificate (DSC)
• Acquiring Director Identification Number (DIN)
• Preparing and filing Form INC-32
• Incorporate the company, obtaining PAN/TAN/GST identification number and opening a bank account

Ministry of Corporate Affairs Introduced SPICe or Form INC-32. With this form (INC-32) Company registration has merged few processes like Getting Business Name Approval, Director’s Identification Number (DIN) and Incorporation Application into one single process.

Documents required to register a company

Before applying for the company, documents are required from the members/individuals need to be associate/partner/director of the new company as below-

1. Passport-sized photograph
2. Copy of PAN Card/Aadhaar Card
3. Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill whatever available
4. Voter’s ID/Passport card
5. Notarized Rental Agreement in English
6. No-objection Certificate from property owner
7. Utility Bill for the registered address

Steps to register a company

1. Acquiring Digital Signature Certificate (DSC)

In order to ensure the security or authenticity of documents filed electronically The Information Technology  Act, 2000 demands a valid Digital Signature on the documents submitted in electronic form.

This is the only and safest way that one can submit their documents electronically. As such, all filings done by the companies/LLPs under MCA 21 e-Governance programme are required to be filed using Digital Signatures by the person authorized to sign the documents.

DSC is e-signature to help you complete the new company registration online. It Normally takes 2 days to obtain DSC after the submitting the documents.

2. Acquire Director Identification Number(DIN) through SPICe or Form INC-32

Each director of the company should obtain their identification number. As per the amendment act 2006, acquiring a DIN is compulsory for every director i.e. as such every existing and intending directors have to obtain their DIN.

Register yourself on MCA Website first and have a login id. The process includes Director’s Identification Number ( DIN number ), Name approval, Memorandum and Articles of association (e-MoA(INC-33) and e-AoA (INC-34)), Registered office verification and Appointment letters and declaration.

Once all these documents are ready, we have to file the forms for company formation after which we get the certificate of incorporation.

3. Create a account on MCA Portal – New user registration

This is about having a registered user account on MCA Portal for filing a eForm, for online fee payment, for different transactions as registered and business user. Creating an account is totally free of cost. To register yourself on the MCA portal, click on the register link.

4. Apply for the company to be registered

This is the final major step in a registration of your company which includes incorporating company name, Registering the office address or notice of situation of office and notice for appointment of company directors, manager and secretary.

5. Apply for company’s PAN and TAN

Once you get the certificate of incorporation, PAN & TAN is applied in the income tax department and finally open the bank account of the company.

6. Apply for company’s GST identification number

Depending upon the type and size of the business, you will need to apply for GST identification number.

This information may help you registering a new entity for your business and basic insight about the idea of company registration. Registering a new company online though a tough process and one needs to adhere various procedures and have strong knowledge of all if & but so better advised to get the help of any expert like CA/CS/Advocate who have experiences in this field. However, online procedures are not so tough now-a-days (as online help to do everything is available in the internet) which you can’t try…Good Luck

Filing income tax returns became earlier online and the last date to file it is March, 31. You can also pay your advance income tax through the internet, using the net-banking facility.

Steps To Pay Income Tax Returns Online

To pay your tax online, here are the simple steps to be followed as below-

1. Login to the Income tax website (https://www[dot]protean-tinpan[dot]com/)
2. Click on Services > e-payment
3. Select the relevant challan i.e. ITNS 280, ITNS 281, ITNS 282, ITNS 283, ITNS 284 or Form 26 QB demand payment (only for TDS on sale of property) as applicable.
4. Enter your PAN/TAN number and all the other mandatory challan details including accounting head under which payment is made, address of the taxpayer and the bank through which payment is to be made etc.
5. After the relevant data is entered, Submit it.
6. A ‘confirmation screen’ is displayed. If the PAN/TAN entered is valid and matches with the ITD PAN/TAN master, then the full name of the taxpayer as per the master will be displayed on the confirmation screen, validate the same.
7. On confirmation of the data entered (that appears on the screen), the taxpayer will be directed to the Netbanking website of the bank where one needs to pay the tax.
8. Login to the Netbanking website using the bank’s user ID/password for net-banking.
9. Enter the payment details on the bank’s website.
10. Once the payment has been made successfully, a challan counterfoil is displayed. This contains CIN, payment details and bank name through which e-payment has been made. This counterfoil is the proof of the payment that you have made.

You can also pay your income-tax using government apps like Umang and Aaykar Setu.

Public Provident Fund (PPF Account) come to appear like a great tool to channelize little savings and keep them for retirement. What a lot of people are unaware of is that it makes a great investment tool as well.

But before we invest in PPF we need to have a basic idea of what exactly PPF is and all the knowledge about deposit, withdrawals, and returns. PPF comes across as one of the safest ways to make an investment as it is government regulated and therefore provides security of your investments and with the return of 7.8% on an average in the recent years PPF beats any other form of investment and is therefore considered as the best long-term investment too.

Although the fact remains that the rate of return varies from year to year according to the market, but is anyway good for cautious investors who do not want to invest in the equity market and wishes to go for an investment which provides both safety and good returns.

But PPF scheme lays down certain strict and specific rules when it comes to withdrawal from the PPF account. What you read ahead will guide you through all the withdrawals from your PPF account along with providing an all-round idea on the PPF scheme.

What Is PPF?

Public Provident Fund is a very widespread long-term investment option which is initiated by the government which comes with a lock-in period of 15 years. It accumulates regular returns on investments and sums up the entire amount, the interest along with the principal investment on maturity. The minimum one may invest in PPF stands to be Rs. 500 whereas the maximum investment in a year is fixed at Rs. 1,50,000. PPF comes with tax savings benefits. The invested amount in PPF is eligible for an income tax deduction, provided you file a claim producing your investment proofs at the time of filing income tax returns.

The complete withdrawal of the invested amount in a PPF scheme is only possible after maturity, that is, only after the 15^th year from the date of creation. However, partial withdrawal is possible which are again subjected to certain rules.

How To Check PPF Account Balances?

Checking your PPF account balance is quite easy if you have net banking enabled. All you have to do is to log in with your User ID and password under PPF section and click on information balance and you will find all the particulars regarding balance in the account, interest accumulated, deposits made and more such.

However, in case you have a PPF account with a Post Office, you may not be able to check your PPF account balance for all the branches. You have to visit the respective post office wherein you have an account with your passbook and get your passbook updated in order to know the current balance.

Premature Withdrawal of PPF

PPF is a scheme for the long term. However, that doesn’t mean that you are not eligible to withdraw any amount before the maturity period of 15 years. One is allowed to withdraw from the PPF account right after the completion of the 5^th year since the account was opened. This definitely makes PPF a multipurpose tool that helps you withdraw in times of financial emergencies even if that is before the date of maturity. Also, PPF provides loans for a short term in order to meet your financial requirements which comes at the cheaper rate of interest as compared to any commercial bank or financial institution.

The rules for withdrawals state that 50% of the accumulated amount can be withdrawn after the 5^th year since the date of creation of the account. But it is here where the PPF account holder has invested between 7 years and 12 years, the limit of withdrawal becomes higher.

It is important that the account holder follows the financial year, that is from 1^st April to 31^st March in order to get an estimate of the withdrawal period. The time-frame is necessarily the financial year for the withdrawal. Also, it is to be let in mind that only one partial withdrawal is permitted in one financial year.

The account holder has to go through an application process for withdrawal which includes submission of Form C through the bank they maintain their account in. The applicant needs to mention the account number and the amount to be withdrawn in the Declaration section of the form. The number of years completed from the date of initial subscriptions also needs to be specified.

The account holder has an eligibility to withdraw the full accumulated amount after completion of 15 years from the date of creation. The account holder also has the option of leaving the amount un-withdrawn but then he has to apply for a term extension of 5 years. Premature closure of PPF account, however, is possible only in the event of the death of the account holder.

Introduced in the year 1968, Public Provident Fund works with an objective to organize small savings in the form of investment combined with returns. PPF is popularly known as a tax saving investment instrument which helps an individual to create a financial cushion for retirement.

However, while many individuals find PPF to be a complicated investment instrument, it’s rather simple. For the many investors who find it confusing how the interest on PPF is calculated, the PPF calculator is one stop solution. It calculates the interest earned over a time period, the final maturity amount, or the investment growth over the years.

The PPF interest can be calculated every month, based on the minimum balance between the 5th day of the month till the end of the month. However, the total interest per annum is added back to PPF at the year-end. The PPF interest rate changes on a quarterly basis. The current PPF interest rate effective from 1st January 2018 is 7.6% per annum (Compounded annually).

An individual can make a minimum, annual deposit of Rs 500, whereas a maximum amount of Rs 1.5 lakh can be deposited in a PPF account. Any amount exceeding the limit of Rs. 1.5 lakh in a financial year will not earn any interest. The amount can be deposited either in lump sum or in maximum of 12 monthly installments yearly. The maximum tenure of a PPF account is 15 years, which can be further extended to 5 years and the complete amount can be withdrawn after the completion of the maturity period.

It analyses the changes in interest rate and also the month in which the interest rate changes during a financial year. As a PPF account includes both tax benefit and loan facility so it is important to calculate the tax exemptions and permissible loan amount also.

Types of Public Provident Fund Calculators

There are 7 major types of PPF calculator which help investors with the 6 different types of calculations pertaining to PPF.

1. PPF Fixed Monthly Investment Calculator

This calculator helps investors to estimate their payable amount when investing in PPF on a monthly basis. To calculate the monthly interest amount, an individual is required to provide the month and financial year of opening the PPF account and the fixed monthly deposit. Just submit these details and the result will show the payable amount.

2. PPF Fixed Yearly Investment Calculator

This calculator helps the investors to compute their payable amount when investing in PPF on yearly basis. However, the PPF interest rate keeps changing on a quarterly basis, the major detail that needs to be filled is the financial year when PPF account was opened and the fixed annual investment/deposit.

3. PPF Variable Yearly Investment Calculator

This calculator requires investors to enter some basic information which includes the financial year of opening the PPF account and the amount deposited per annum.

4. PPF Benefit Calculator

The PPF benefit calculator includes various elements like fixed yearly contribution, the age of the investor, and the prevailing rate of interest of that year. Once an individual provides all the details, the PPF benefit calculator calculates the tax-free income, income tax liability before and after investment, yearly tax saving and overall tax saving in 15 years.

5. PPF Loan Calculator

The PPF loan calculator computes the approved loan amount. To calculate the loan amount, one just needs to enter the balance in the account.

6. PPF Withdrawal Calculator

Pre-mature PPF withdrawals are allowed after the completion of seven financial years from the year of opening the account. One can calculate both the amount of withdrawals, before and after extension with the help of PPF withdrawal calculator.

7. PPF Maturity Calculator

This calculator simply helps the investors to calculate the time of maturity of the PPF account.

While it’s great to have access to these calculators, it’s always good to have a working knowledge of how the total PPF balance is calculated at the end of a financial year. So, let’s take a look at two different cases to determine the difference your method of investing makes to your PPF returns.

Case 1: Mr. Bose invests Rs 90,000 as a lump sum on 1st April in PPF.

Interest calculation – Rs. 90,000/12 = 7,500 * 7.6% = Rs. 570

Total Interest accrued at the end of the year in Mr. Bose’s PPF account will be Rs. 6840

Total PPF balance at the end of the financial year in Mr. Bose PPF account will be Rs. 96, 840 (Rs. 90,000 + Rs. 6,840)

Case 2: Mr. Sarkar invests Rs 7,500 (Rs 7,500*12= Rs 90,000) under PPF before the 5th of each month.

Interest Calculation- Rs. 7,500*7.6% = Rs. 570

Total Interest accrued at the end of the year in Mr. Sarkar PPF account will be Rs. 6840 (Rs. 570*12)

Total PPF balance at the end of the financial year in Mr. Sarkar PPF account will be Rs. 96, 840 (Rs. 90,000+ Rs. 6,840)

Case 2: Mr. Sarkar invests Rs 7,500 (Rs 7,500*12= Rs 90,000) under PPF after the 5th of each month.

Interest Calculation- Rs. 7,500*7.6% = Rs. 570

Total Interest accrued at the end of the year in Mr. Sarkar PPF account will be Rs. 6270 (Rs. 570*11)

Total PPF balance at the end of the financial year in Mr. Sarkar PPF account will be Rs. 96, 270 (Rs. 90,000+ Rs. 6,270)

Conclusion

So, with the help of these examples, one can conclude whether he/she should invest annually or monthly under the PPF account. The interest calculation in PPF account is very simple. Moreover, with the help of PPF calculator, one can also know the right time to invest in PPF in order to avail maximum return.