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As we know Indian taxation system which comprises various types of Taxes but let's understand it in broader view let's check out with the word "TAX"
Let's dive into one of the heads of Income tax i.e. Income From House property. In this article, you will learn about all Provisions & deductions that falls under the said Head.
ESIC i.e. Employees' State Insurance Corporation is one of the two main statutory social security bodies under the ownership of Ministry of Labour and Employment, Government of India, the other being the Employees' Provident Fund Organisation.
In any business the basic fuel that requires to keep the business alive is only an Income or Receipts. As the important purpose of an economic activity is to earn money business is generating different types of revenues. We can bifurcate these Revenues or Receipts in two different categories i.e. Capital Receipts & Revenue Receipts
Employees can accumulate the un-utilize paid leaves till their retirement or resignation from the company & which compels the employer to compensate the unutilized paid leave of the employees. This concept is better known as leave encashment.
Transport allowance granted to an employee to meet his expenditure for the purpose of commuting between the place of his residence and the place of his duty is fully taxable
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