Income Tax Articles
Basic components of salary and its taxation
CTC is cost to company and the components areBasic+HRA+CONVEYANCE+MOBILE REIMBURSHMENT+MEDICAL reimbursement+All allowances+LTA+employer contribution of PF+Employer Contribution towards ESI+Total variable incentives+Perks & benefits+ Insurance Pr
All about IT Form 16 for salaried employee
What is Form 16:- If you are salaried employee in an organization, then you will get the salary after deducting tax by the employer. Therefore Form 16 is a certificate issued to you by your employer stating the Personal details of the Employee includ
Points to be considered by a taxpayer before filing an ITR
1. Due Date of Filing of Income Tax Return is proposed to be extended to 31 August �2015 in respect of Assessment Year 2015-2016. 2.The maximum amount of deduction available under Chapter VI A has been extended from Rs.1,00,000 to Rs.1,50,000
TDS on Interest other than Interest on Securities 194A
Any person (not being an individual/HUF*), responsible for paying to a resident any income by way of interest other than interest on securities, is responsible to deduct tax at source and deposit the same to the Government Treasury within the time st
Indispensable components in the salary
Income Tax!! Not only is it a major expense but also an unavoidable one for each person to bear. And if you draw a salary, your tax expense is probably the highest.Imagine, yo
Income tax deduction in India
Every individual who earns an income in India is supposed to pay Tax on the Income earned by him during that financial year to the government of India. Calculation of the Income Tax to be paid by an individual is a cumbersome process. The government
How to e-verify ITR with the help of EVC
Source:-The Notification No.2/2015 on dated 13.07.2015The Notification will come into effect from the date of issue.By this notification the process of verification after e-filing of any Income tax return has been modified only.Before this notificati
New to income computation and disclosure standards (ICDS)? Here's what you need to know
INTRODUCTIONBackgroundSection-145(2) of Income tax Act, 1961 empowers Central Government to issue Income Computation and Disclosure Standards (ICDS).Key Features of ICDS Effective Date of ICDS is 01stApril, 2015e. AY: 2016-17 onwards. ICDS applicable
Bhaijaan, TDS se kar lo Pehchaan
Karneeti Part 106Bhaijaan, TDS se kar lo PehchaanArjuna (Fictional Character): Krishna, the festival of Eid is approaching. But the Taxpayers are in a rush of filing TDS returns. As the due date of TDS returns and the auspicious festival of Eid have
Section 80C simplified. (A summary view)
DEDUCTION UNDER SECTION 80 C F.Y. 2014-15(A.Y. 2015-16)(AN INVESTMENT LINKED DEDUCTION) 1. LIMIT:With effect from 01-04-2015 the maximum allowable limit is extended to Rs.150000 from the previous Rs.100000.2. MAJOR INVESTMENT AREAS: Followi
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