Tag Archives: in

Canadian Cities Where An Average Income Will No Longer Buy You A House, average income

by ,

Canadian Cities Where An Average Income Will No Longer Buy You A House

Average-income families can no longer afford a detached house in more than a quarter of Canada’s largest cities, according to an analysis carried out by The Huffington Post Canada.

And while Toronto and Vancouver are famous for their high house prices, HuffPost’s survey shows those cities’ traditionally affordable suburbs are now out of reach for middle-income earners as well. In these cities, average earners have basically no choice but to buy a condo, or stay out of the housing market.

Of the 26 largest cities in Canada, seven fell into the “unaffordable” category — meaning the average sale price of a stand-alone home was at least $100,000 more than the maximum mortgage amount an average income will get you. (See methodology below.)

Among those cities were many formerly affordable suburbs, including Markham and Mississauga (greater Toronto), and Burnaby and Surrey (greater Vancouver).

Four cities — Calgary, Edmonton, Brampton, Ont., and Victoria, B.C. — fell into the “borderline” category. Middle-income earners in these cities could soon be priced out of the single-family home market, if prices there continue to grow faster than income, as has been the case in all of them except Victoria. (Prices there have been falling slowly for years.)

Check out the full list (story continues below):

Cities Where Middle Income No Longer Buys You A House

With house prices growing rapidly thanks to rock-bottom interest rates that have made mortgage payments more affordable, developers have been shifting to condo construction to build affordable housing.

“In the 1990s, you might have four or five single detached for every row house, now it’s more like three to one,” BMO economist Doug Porter said in a recent interview with the National Post, adding that the trend “is becoming even more obvious in recent years.”

But it’s not just prices, it’s a lack of supply. In Toronto and Calgary in particular, there are simply too few single-family homes for sale to meet demand. Scotiabank economist Adrienne Warren says Calgary will be able to meet future demand through construction, but Toronto faces a different problem: It’s running out of space to build houses, thanks to policies, such as the Green Belt, meant to reduce urban sprawl.

The measures seem to have worked; Greater Toronto is moving towards higher-density housing, so much so that it leads North America in high-rise construction, with 50 per cent more being built there than in New York City (though that could be a sign of overbuilding). But one unintended consequence appears to be a serious decrease in the affordability of detached homes.

How we determined what’s affordable

To determine whether or not middle-income earners can afford a detached home in a given market, HuffPost took the average household income for all Canadians — estimated at $87,000 annually, based on StatsCan data — and polled a handful of mortgage experts to see what that income would get you, in terms of a mortgage.

The average of the mortgage experts’ estimates came to $460,000 — that’s what you can borrow, assuming a household income of $87,000, a 25-year amortization period, a 5-per-cent down payment, no other debts and current mortgage rates.

Any market where the average price of a detached house is more than $100,000 above the $460,000 mark we define as “unaffordable.”

You might still be able to buy a standalone house in these markets for a middle-income wage (even in super-pricey Toronto you can still buy a house, every now and then, for an average income) but at these price levels you’re almost certain to get a substandard home in a less desirable area.

Any market where the average price of a house is above the maximum mortgage middle earners can get, but by less than $100,000, is defined as “borderline.” There are still houses here that middle earners can afford, but not many.

All other housing markets are defined as “affordable.”

Surgeon Salary: How Much Doctors Make, Time, average income in usa.#Average #income #in #usa

by ,

Surgeon Salary: How Much Doctors Make

Doctors are still high earners, although few consider themselves rich, finds a recent survey by Medscape, a physician-focused information service from WebMD.

Using a third-party online collection website, Medscape surveyed 24,216 physicians across 25 specialties from Feb. 1 to 17, 2012. Doctors earnings ranged from about $156,000 a year for pediatricians to about $315,000 for radiologists and orthopedic surgeons. The highest earners orthopedic surgeons and radiologists were the same as last year, followed by cardiologists who earned $314,000 and anesthesiologists who made $309,000.

The lowest earning doctors are the family guys. Pediatricians and family practitioners make about $156,000 and $158,000, respectively. Internists and psychiatrists rank a notch above, at about $165,00 and $170,000, respectively.

The salary figures fall short of numbers reported by other survey groups: a Medical Group Management Association report using 2010 data, found that the average compensation for radiologists was $471,253 and for pediatricians it was $192,148, Kaiser Health News reports.

Overall, not a lot changed over the previous year in terms of pay rank, according to Medscape, but salaries dipped in general. Radiologists and orthopedic surgeons saw their annual compensation fall by 10%. General surgeons experienced the largest drop in pay, by 12% since 2010, while ophthalmologists saw a 9% boost and pediatricians income rose 5%.

Despite their sizable salaries, only about 11% of doctors considered themselves rich, which the survey authors attribute to physicians high debts and expenses. About 51% of all physicians and 46% of primary care physicians said they thought they were compensated fairly. When asked if they would choose a career in medicine if they had it to do all over again, 54% of physicians surveyed said yes down from 69% the previous year.

Here s an overview of physicians compensation in 2011:

Plastic surgery: $270,000

General surgery: $265,000

The survey also addressed the gender gap in compensation, reporting that male doctors earn 40% more than female physicians. The survey authors say that part of the difference is due to choice of specialties and lifestyle decisions, suggesting that if female doctors worked the same number of hours as men, they would likely earn more equal pay.

Interestingly, the survey found that doctors in the Northeast earned the least. The highest-paid physicians practiced in the North Central region (Iowa, Missouri, Kansas, Nebraska, and South and North Dakota), earning on average $234,000. Next came doctors in the South Central and Great Lakes region, with a mean salary of $228,000. Northeast docs earned $204,000 on average.

Despite the widespread push to reduce unnecessary care and lower health-care costs, about 67% of physicians said they would not reduce the number of tests, procedures or treatments they perform in order to comply with insurer treatment guidelines. Their reasoning was that either such guidelines were not in their patients best interests or that doctors still need to practice defensive medicine.

You can view the full 2012 Medscape Physician Compensation Report here. And click here to see a related lifestyle survey released in March on physicians health and happiness.

OECD Better Life Index, what is the average income in the united states.#What #is #the

by ,

United States

How’s Life?

The United States performs very well in many measures of well-being relative to most other countries in the Better Life Index. The United States ranks at the top in housing, and income and wealth. They rank above the average in health status, jobs and earnings, education and skills, personal security, subjective well-being, environmental quality, and civic engagement. They rank below average in work-life balance and social connections. These rankings are based on available selected data.

Money, while it cannot buy happiness, is an important means to achieving higher living standards. In the United States, the average household net-adjusted disposable income per capita is USD 44 049 a year, much higher than the OECD average of USD 30 563 a year, and the highest figure in the OECD. But there is a considerable gap between the richest and poorest the top 20% of the population earn about eight times as much as the bottom 20%.

In terms of employment, 69% of people aged 15 to 64 in the United States have a paid job, above the OECD employment average of 67%. Some 75% of men are in paid work, compared with 64% of women. In the United States, some 11% of employees work very long hours, less than the OECD average of 13%, with almost 16% of men working very long hours compared with 7% of women.

Good education and skills are important requisites for finding a job. In the United States, 90% of adults aged 25-64 have completed upper secondary education, much higher than the OECD average of 74%. This is slightly truer of women than men, as 89% of men have successfully completed high-school compared with 91% of women. In terms of the quality of the educational system, the average student scored 488 in reading literacy, maths and science in the OECD’s Programme for International Student Assessment (PISA), slightly higher than the OECD average of 486. On average in the United States, girls outperformed boys by 1 points, slightly less than the average OECD gap of 2 points.

In terms of health, life expectancy at birth in the United States is almost 79 years, one year lower than the OECD average of 80 years. Life expectancy for women is 81 years, compared with 76 for men. The level of atmospheric PM2.5 tiny air pollutant particles small enough to enter and cause damage to the lungs is 10.1 micrograms per cubic meter, lower than the OECD average of 13.9 micrograms per cubic meter. The United States also does well in terms of water quality, as 84% of people say they are satisfied with the quality of their water, higher than the OECD average of 81%.

Concerning the public sphere, there is a strong sense of community and moderate levels of civic participation in the United States, where 90% of people believe that they know someone they could rely on in time of need, broadly in line with the OECD average of 89%. Voter turnout, a measure of citizens’ participation in the political process, was 68% during recent elections, slightly lower than the OECD average of 69%. Social and economic status can affect voting rates; voter turnout for the top 20% of the population is an estimated 76% and for the bottom 20% it is an estimated 54%, broader than the OECD average gap of 13 percentage points, and points to shortcomings in the political mobilisation of the worst-off.

In general, Americans are more satisfied with their lives than the OECD average. When asked to rate their general satisfaction with life on a scale from 0 to 10, people in the United States gave it a 6.9 grade on average, higher than the OECD average of 6.5.

Income Percentile by Age Calculator for the US: What Percent Are You, what is the

by ,

Income Percentile by Age Calculator for 2017, United States

We present 2017 United States data in an income percentile by age calculator for every age from 15-80. Enter an income earned in full year (Jan- Dec) 2016 and we ll estimate where that income fell for that age s distribution. Our data comes from the Current Population Survey Annual Social and Economic Supplement (ASEC) survey.

Source and Methodology on the Income Percentile by Age Calculator

As stated in the introduction, the microdata comes from the ASEC which we prepare and slice in R. IPUMS-CPS from the University of Minnesota s Population Center collates the data and harmonized it across years. Our methodology for determining who is covered as a worker is covered in this year s income percentile calculator.

In short, anyone who reported working, worked on average one hour per week more, or wanted to work is included in the population. Beware very high or low percentiles for the ages below 18 years old and above 65 years old; there isn t as much data in the set.

Sarah Flood, Miriam King, Steven Ruggles, and J. Robert Warren. Integrated Public Use Microdata Series, Current Population Survey: Version 4.0. [dataset]. Minneapolis: University of Minnesota, 2015. http://doi.org/10.18128/D030.V4.0.

Presenting Data in Income Brackets By Age

As we ve done with reinvestment in our dividend reinvestment calculators, we ve identified age or experience as an oft-ignored lurking variable. As experience is harder to measure, age is a decent proxy. It s a good bet that if you work a job and are older you have more experience in said job.

When you zoom out to all workers, you re ignoring the very real effect of age on income. As income tends to increase with age and is sticky (at least falling), this isn t right to do. Sure, we do present rolled up numbers in the income bracket post and income percentile calculator but for comparisons sake, this is a superior slice.

So, if you re a 24 year old recent college grad don t compare your fresh-out-of-college income with the investment supplemented income pulled in by a 50 year old. You should, instead, compare yourself with 23, 24, 25, and 26 year olds that s a more reliable and accurate peer group.

Use Income Percentile by Age For Comparions!

So there you have it the data and the reasoning behind producing this income percentile by age calculator. Age-based income is the measure you should use for comparison purposes. It ll avoid the weirdness you ll see in the aggregate stats, and properly accounts for at least some of the confounding variables.

See anything interesting in this year s data?

Related Posts:

  • What is the average income in the united states
  • What is the average income in the united states

Average Salary Information for US Workers, what is the average income in the united states.#What

by ,

Average Salary Information for US Workers

What is the average income in the united states

What is the average income in the united states

How much is the average salary for US workers? Salaries vary based on gender, education, occupation, industry, geographical location, ethnicity, and other factors. Here s information on the average salary in a variety of categories, and calculators to use to determine the salary for specific occupations.

Average Salary Information for US Workers

According to the Bureau of Labor Statistics, the median wage for workers in the United States in the fourth quarter of 2016 was $849 per week or $44,148 per year for a 40-hour work week.

Wages were 2.9 percent higher than at the same date for the previous year, a gain of 1.8 percent.

However, salaries can vary significantly based on both on occupation and location. For example, people working in professional, management and related occupations earned an average of $63,076 annually, while those working in service occupations only earned an average of $28, 080 annually. Jobs in large metropolitan cities which have a higher cost of living tend to pay more than jobs in more rural areas.

Average Salaries for US Men and Women

The BLS reports that for the fourth quarter of 2016, men earned a median average of $927 per week while women earned only $758 or 81.8 percent of what males earned.

Average Salary Based on Education

Workers age 25 and over without a high school degree had median weekly earnings of $519 at the end of 2016 compared with $698 for high school graduates. College graduates with at least a bachelor s degree earned $1,270 per week.

College graduates with advanced degrees earned a median average of $1476 each week.

Median Salary vs. Average Salary

What s the difference between the average salary for a job and the median salary? The median salary (also called the midpoint) for a job is the wage at the middle of a range. Half of the workers in the United States earn below this level and half earn above it.

The average salary (also called the mean) for a job is an average of all the salaries for a specific job.

To get the average salary, you add all the salaries for a job and divide it by the number of people working at that occupation. As mentioned above, the average salary can vary based on location, the supply and demand for the job, and other factors.

How to Find the Average Salary for a Job

When you are evaluating careers or job searching, it can be useful to know what you can expect to make. It can also be a good bargaining tool, when negotiating a salary with a new employer or a pay raise with a current one, to know the average salary that others with your job title make in your geographical region. The link below provides salary profiles for a variety of different occupations, plus links to salary calculators and tools for comparing salaries and discovering how much you can earn.

Salary and Cost of Living Calculators

There are a variety of calculators you can use to find out what the average salary is for a job in your occupation and location of interest. In addition, you can use a cost-of-living calculator to determine how much it actually costs to live in a specific location.

Here a few of the most-used online calculators:

Salary.com reports will give you the average salary for just about every occupation, as well as information on benefits, negotiation, and human resources issues.

Use PayScale s Cost of Living Calculator to determine how much your current salary is worth in a new city and to compare the cost of living in two different cities.

Evaluate a job offer or compare your salary with equivalent positions.

Use PayScale s Salary Chart to review the median salary for a variety of jobs.

Understanding the confluence of average salaries in your profession and the cost of living in any given area will provide you with the facts you need whenever you are considering applying for a new job or moving to a different geographical region.

The American Middle Class Is No Longer the World’s Richest – The New York Times,

by ,

The American Middle Class Is No Longer the World’s Richest

What is the average income in the united states

Slide Show | 9 Photos

Stuck in the Middle

Stuck in the Middle

Credit Nicole Bengiveno/The New York Times

The American middle class, long the most affluent in the world, has lost that distinction.

While the wealthiest Americans are outpacing many of their global peers, a New York Times analysis shows that across the lower- and middle-income tiers, citizens of other advanced countries have received considerably larger raises over the last three decades.

After-tax middle-class incomes in Canada — substantially behind in 2000 — now appear to be higher than in the United States. The poor in much of Europe earn more than poor Americans.

The numbers, based on surveys conducted over the past 35 years, offer some of the most detailed publicly available comparisons for different income groups in different countries over time. They suggest that most American families are paying a steep price for high and rising income inequality.

Although economic growth in the United States continues to be as strong as in many other countries, or stronger, a small percentage of American households is fully benefiting from it. Median income in Canada pulled into a tie with median United States income in 2010 and has most likely surpassed it since then. Median incomes in Western European countries still trail those in the United States, but the gap in several — including Britain, the Netherlands and Sweden — is much smaller than it was a decade ago.

In European countries hit hardest by recent financial crises, such as Greece and Portugal, incomes have of course fallen sharply in recent years.

The income data were compiled by LIS, a group that maintains the Luxembourg Income Study Database. The numbers were analyzed by researchers at LIS and by The Upshot, a New York Times website covering policy and politics, and reviewed by outside academic economists.

The struggles of the poor in the United States are even starker than those of the middle class. A family at the 20th percentile of the income distribution in this country makes significantly less money than a similar family in Canada, Sweden, Norway, Finland or the Netherlands. Thirty-five years ago, the reverse was true.

LIS counts after-tax cash income from salaries, interest and stock dividends, among other sources, as well as direct government benefits such as tax credits.

The findings are striking because the most commonly cited economic statistics — such as per capita gross domestic product — continue to show that the United States has maintained its lead as the world’s richest large country. But those numbers are averages, which do not capture the distribution of income. With a big share of recent income gains in this country flowing to a relatively small slice of high-earning households, most Americans are not keeping pace with their counterparts around the world.

“The idea that the median American has so much more income than the middle class in all other parts of the world is not true these days,” said Lawrence Katz, a Harvard economist who is not associated with LIS. “In 1960, we were massively richer than anyone else. In 1980, we were richer. In the 1990s, we were still richer.”

That is no longer the case, Professor Katz added.

Median per capita income was $18,700 in the United States in 2010 (which translates to about $75,000 for a family of four after taxes), up 20 percent since 1980 but virtually unchanged since 2000, after adjusting for inflation. The same measure, by comparison, rose about 20 percent in Britain between 2000 and 2010 and 14 percent in the Netherlands. Median income also rose 20 percent in Canada between 2000 and 2010, to the equivalent of $18,700.

The most recent year in the LIS analysis is 2010. But other income surveys, conducted by government agencies, suggest that since 2010 pay in Canada has risen faster than pay in the United States and is now most likely higher. Pay in several European countries has also risen faster since 2010 than it has in the United States.

Three broad factors appear to be driving much of the weak income performance in the United States. First, educational attainment in the United States has risen far more slowly than in much of the industrialized world over the last three decades, making it harder for the American economy to maintain its share of highly skilled, well-paying jobs.

Americans between the ages of 55 and 65 have literacy, numeracy and technology skills that are above average relative to 55- to 65-year-olds in rest of the industrialized world, according to a recent study by the Organization for Economic Cooperation and Development, an international group. Younger Americans, though, are not keeping pace: Those between 16 and 24 rank near the bottom among rich countries, well behind their counterparts in Canada, Australia, Japan and Scandinavia and close to those in Italy and Spain.

A second factor is that companies in the United States economy distribute a smaller share of their bounty to the middle class and poor than similar companies elsewhere. Top executives make substantially more money in the United States than in other wealthy countries. The minimum wage is lower. Labor unions are weaker.

And because the total bounty produced by the American economy has not been growing substantially faster here in recent decades than in Canada or Western Europe, most American workers are left receiving meager raises.

American Incomes Are Losing Their Edge, Except at the Top

Lorem ipsum dolor sit amet, consectetur adipisicing elit.

Income Tax Return Filing by IndiaFilings, income tax filing in india.#Income #tax #filing #in #india

by ,

Income Tax Filing

Its is mandatory for individuals, NRIs, partnership firms, LLPs, Companies, Trust to file income tax returns each year. Individuals and NRIs are required to file income tax return, if their income exceeds the exemption limit. Partnership firms are required income tax return – irrespective of amount of income or loss. All companies are mandatorily required to file income tax return. Finally, it is mandatory for most types of trust to file income tax every year, while some types of trusts are required to file return of income if its gross total income exceeds the exemption limit.

Income tax return form can be e-filed or manually filed. Income tax returns do not have the ability to accept any attachment while efiling or manually filing. Hence, all relevant documents pertaining to the income tax filing like proof of investment, TDS certificates, pay slip, rent receipt, etc.) must be retained by the taxpayer and should be readily available if requested by tax authorities during assessment, inquiry, etc.

IndiaFilings is the largest business services platform in India, offering a variety of services like company registration, trademark registration, GST registration, income tax filing and more. IndiaFilings can help you file income tax returns. Get a free consultation for income tax filing through IndiaFilings by scheduling an appointment with an IndiaFilings Advisor.

Top Income Tax Return Types


Income Tax Form ITR-1 (SAHAJ) is for individuals having income from salaries, one house property and other sources like interest, etc., This is the most used income tax return type.


Income Tax Form ITR 4 is for individuals and Hindu Undivided Families having income from a proprietary business or profession. This form is used by proprietorship firms.


Income Tax Form ITR 5 is used by most partnership firms as it is intended for persons other than individuals, Hindu Undivided Families, companies and person filing Form ITR-7.


Income Tax Form ITR 6 ​is used by companies like one person company, private limited company, public limited company and other for-profit companies.


Income Tax Form ITR 7 is used by persons, political parties, news agencies, universities and entities in receipt of income from property held under trust for charitable or religious purposes.

Income tax return – Latest News on Income tax return, Read Breaking News on Zee

by ,

Income tax return

Income tax return in india

Govt extends deadline for uploading audit reports of ITR to November 7

Ministry of Finance had earlier extended the due-date for filing ITR and various reports of audit from 30th September, 2017 to 31st October, 2017.

Oct 31, 2017, 23:00 PM IST

Income tax return in india

Delhi court extends judicial custody of Kashmiri separatist leader Shabir Shah

A Delhi court on Wednesday extended till October 13 the judicial custody of Kashmiri separatist leader Shabir Shah, arrested on charges of money laundering.

Sep 27, 2017, 16:45 PM IST

Income tax return in india

Deadline to file ITR 2017 ends today – All you should know

Key things you should keep in mind for filing your ITR.

Aug 05, 2017, 10:57 AM IST

Income tax return in india

Last date to file ITR: Tax offices to remain open today

The last date for filing of Income Tax Returns (ITRs) was extended from July 31 to August 5 in view of difficulties faced by taxpayers.

Aug 04, 2017, 18:40 PM IST

Income tax return in india

Deadline for ITR filing 2017 ends today: Beware of these online fraudsters

Know how to deal with cyber criminals while filing your Income Tax Returns.

Aug 04, 2017, 11:49 AM IST

Income tax return in india

Online filing of IT returns up by 20 percent: Finance Ministry

The deadline for filing IT returns was extended until August 5, in lieu of the difficulties faced by the taxpayers.

Aug 03, 2017, 16:51 PM IST

Income tax return in india

Don t have landlord s PAN? Here is how you can still claim HRA

Employee can still claim for tax benefits under HRA in his/her ITR, according to tax experts. Employees need to provide PAN of landlord only to his/her employer. Once the person is finally set to file an ITR, there is no need to provide PAN of landlord.

Aug 02, 2017, 13:35 PM IST

Income tax return in india

PAN card to be cancelled if not linked with Aadhaar till August 31

The interlinking of Aadhaar and PAN linking can be done till August 31. The government on Monday announced the extension in deadline.

Jul 31, 2017, 16:21 PM IST

Income tax return in india

Deadline to file income tax returns ends today- Here s all you need to know

Key things you should keep in mind for filing your ITR.

Jul 31, 2017, 09:16 AM IST

Income tax return in india

Deadline for filing income tax return nears; here are 10 common mistakes that you must avoid

Filing of income tax return –the annual ritual –can get really troublesome if you don’t pay heed to the details. Every year, numerous applications get rejected due to incorrect or mismatched information.

Jul 19, 2017, 17:17 PM IST

Income tax return in india

Aadhaar mandatory for social schemes? Supreme Court ruling to come today

The Supreme Court on Friday is likely to pass an order whether or not Aadhaar Card is mandatory for availing government social benefit schemes.

Jul 07, 2017, 09:46 AM IST

Income tax return in india

Aadhaar not a must for PAN, ITR in Assam, J K, Meghalaya

The revenue department has exempted residents of Assam, Jammu and Kashmir, Meghalaya, and citizens above 80 years from mandatory quoting of Aadhaar to obtain PAN cards and file tax returns.

May 12, 2017, 17:35 PM IST

Income tax return in india

Loans, card payments above Rs 2 lakh in cash to be shown in ITR

All cash payments of over Rs 2 lakh for paying loans and credit card bills during the 50-day period post demonetisation will have to be disclosed in the new one-page Income Tax return form.

Apr 09, 2017, 13:30 PM IST

Income tax return in india

E-filing for two ITRs launched by I-T dept

The Income Tax department today launched the e-filing facility for select Income Tax Returns (ITRs) for the assessment year 2017-18.

Apr 01, 2017, 13:42 PM IST

Income tax return in india

Details of cash transaction of more than 2 lac to be given in ITR form

Share Bazar, Mandi Live, Aap Ka Bazar, First Trade, Big Debate etc.

Apr 01, 2017, 00:18 AM IST

Income tax return in india

Disclose deposits of Rs 2 lakh or more post note ban in new ITR forms

Taxpayers who deposited Rs 2 lakh or more post demonetisation, will have to make this disclosure in the new Income Tax Returns (ITRs) forms notified on Friday.

Mar 31, 2017, 16:32 PM IST

Income tax return in india

Don t delay further! You must finish these tasks by today

Come April 1 and several rules will change in the country while newer rules will be implemented.

Mar 30, 2017, 10:17 AM IST

Income tax return in india

Govt to bring 1-page income tax return filing process from April 1

Govt to bring 1-page income tax return filing process from April 1. Watch complete news story of News 360 for getting the detailed news updates!

Mar 28, 2017, 20:28 PM IST

Income tax return in india

Aadhaar mandatory for filing ITR to avoid tax evasion: FM Jaitley

Making Aadhaar number mandatory for filing of Income Tax returns is necessary to curb tax evasion and frauds, the government said on Wednesday while rejecting the opposition demand for a relook at the move.

Mar 22, 2017, 20:54 PM IST

Income tax return in india

Now, Aadhaar mandatory for filing I-T returns, applying PAN

The government has proposed to make Aadhaar card mandatory for filing income tax return and also for applying for PAN from July 1, 2017.

How to Earn Money Online in India without Investment, online income in india.#Online #income #in

by ,

Learn the Trusted Ways to Earn Money Online

Sign up for our 7 free tips. Start earning today.

We respect your email privacy.

Online income in india

Your site looks like the first honest attempt to help people understand about online income.

Senior Project Manager, FIS

Choose how you want to earn online


If you’re in urgent need of money want to earn immediately, Writing articles online is one of the quickest ways to earn. It is free to join and you can start earning right now. The only skill you need is to know English.

Online income in india


Freelance is where you get paid for completing a task. Most of the tasks are technical/creative in nature. So, if you re ready to develop some technical/creative skills, choose freelancing.

Online income in india

Online Business

This is the ultimate way to earn money online. It starts with finding something that people want creating it. This requires more effort, but the rewards are worth it as the earning potential is unlimited.

Online income in india

How to get payments online?

Use PayPal

If you re from India, you need to use PayPal to receive payments online. Once you receive the money in paypal, you can easily transfer it to any bank a/c of your choice. Watch the video to see how to create you paypal a/c in India for free.

What is FastRupee?

FastRupee was started with one goal in mind: To make online earning as simple as possible. Thousands of people in India are constantly looking to earn more income. But, most of the information about earning online is very vague and hard to understand. FastRupee aims to solve this by simplifying the information which can be understood by anyone and help them create an extra source of income.

More than 80,000 people have subscribed to FastRupee to learn legitimate ways to earn online.

How to Pay Income Tax Online in India 2017, online income in india.#Online #income #in

by ,

How to Pay Income Tax Online in India 2017

Taxes are significant tools for nation building. Income tax is the major revenue stream for any government, which is used for the development of vital sectors of the country like education, health, infrastructure, defense, etc.

So, for the cumulative growth of our country, it is a duty of all salaried individual to pay income tax. Although, the number of people finds paying taxes burdensome in either way financially or on time. To help out people with this problem, the department has exercised sufficient provisions to ensure the payment of taxes.

You may very often come across the term “Self-Assessment Tax“. Let us first briefly tell you what self-assessment tax is.

Self-Assessment Tax

Keeping in mind the convenience of the citizens the whole tax liability is divided up into portions so that people pay advance taxes on the income reducing the burden to pay a lump-sum at one go. Generally, one can know about the deducted tax amount through the salary slip. However, the actual tax liability can be different from the deducted amount, in order to ensure this tax computation is being done at an approximate level. In some cases, the advance tax paid can be lesser than actual tax calculated, in such cases the individual need to pay the additional amount in order to clear all dues.

The taxpayers can self-assess their taxes which is almost equal to actual tax liability. However, in some cases, self-assessment of taxes can go off track resultant of which the person will have to pay the due amount.

Procedure to Pay Income Tax Online

Most of the people find tax payment complicated and time-consuming, and in case one has to pay the extra amount then it can be pretty worrisome. So, to avoid this problem, the Income Tax department of our country has put adequate procedures to ensure the payment of taxes on time and in hassle free manner. The salaried individuals can pay the taxes online by following some simple steps. However, one should keep in mind that online payment can only be done through net banking.

1. In order to pay tax online first log into http://www.tin-nsdl[dot]com Services e-payment: click here on tax e-pay taxes and pay taxes online.

2. First and foremost the person will have to go to tax information network of Income Tax Department and will have to select Challan 280.

3. Once you have selected the challan choose the assessment year correctly. Choose section 100 “Advance Tax” if the person is paying tax during the financial years, section 400 “Tax on Regular Assessment” if the individual gets a demand notice from the tax department and chooses section 300 “ Self-Assessment of Taxes” if the person is paying tax after the financial year has ended.

4. After choosing the assessment year correctly fill up the mandatory fields which includes:-

5. On confirmation of the data entered by the individual, the taxpayer will be preceded to the net-banking site of the bank.

6. In order to further proceed with the payment of income tax online, the taxpayer will have to login to the net banking site with user id/password provided by the bank for net banking purpose and enter the payment details on the bank site.

7. On successful payment of income tax challan counterfoil is displayed which includes information about the paid tax and the taxpayer should keep it with themselves in case of any future queries with the Income Tax department.

8. In your Challan 280, the individual will be able to see details about the payment on the receipt.

With the enhancement of technology, in today’s time online payment of income tax has become extremely time-saving and hassle-free. However, according to the person’s own choice he/she can pay tax offline also by visiting the designated bank and pay the due amount either by cheque or by cash. If the person pays the tax offline then he/she will have to collect the challan from the IT office, after that they will have to fill it and submit with the required amount.

Important Aspects that should be Kept in Mind While Paying Due

There are certain things that should be kept in mind while paying dues

  • PAN- It is crucial to enter the correct Permanent Account Number.
  • Verification- To ensure that the form is filled correctly, one should dual check and verify the completed form.
  • Calculation- The payers should recheck the due amount and calculate for themselves in order to avoid any further mistakes.
  • Receipt- The challan counterfoil generated after the deduction of tax should be kept safe for any future agreement with the income tax department.

How to File Income Tax Return after Payment

Once the person is done with the tax payment, they need to report this information on your income tax return. Visit http://www.incometaxindia[dot]gov.in/Pages/default.aspx for e-filing or downloading the relevant forms for your income tax return. The taxpayer should have the BSR code and the challan number handy while filling the forms.”

How to Calculate Self- Assessment Tax

The two major processes should be followed for interest calculation if the individual has made any tax payment prior the assessment date.

1. The interest is calculated in case of unpaid advance tax till the date it remains unpaid. The total time period for interest calculation starts from the taxation due date till the date the payment is actually made.

2. The total tax payable equals self-assessed tax liability less the total advance tax payment made till date.

The following procedure should be followed for the calculation of self-assessment tax

1. With the help of income tax slab, available online one can calculate the taxable amount payable on the individual’s total income.

2. Then include the interest payable under section 234A, 234B, and 234C.

3. After the addition of amount, deduct the relief amount under section 90, 90A.

4. At the end subtract the MAT credit amount under section 115JAA and advance tax amount

This will lead to the calculated self-assessment tax payable amount on the individual’s income tax.