Beware, Adhere to Stamp duty valuation of Immovable property under Income tax. Arjuna (fictional character): Krishna, It is astonishing that on 1st January Government instead of giving gift of New Year to the taxpayers, it increased Stamp Duty Value
Maximum Tax Advantage of House Rent Allowance (HRA)House Rent Allowance (HRA) is provided by an employer to his employee to meet the rental cost of the residential house of the employee.
Form 15G and Form 15H are self declaration forms required to be furnished by the Assessee to his banker to avoid the tax deducted at source (TDS) on his/her investments.As per Section 194A of the Income Tax Act, 1961, all banks and financial institut
Very warm Christmas wishes to one and all!! National Housing Bank (NHB) has decided to play Santa this Christmas and has announced an issue of tax free bonds with coupon/ interest rates as under: 10 year 15 Year 20 year
If there were to an international survey on stability of tax laws or the absence of it, India should undoubtedly be at the top in absence of it. Governments, both state and centre, work overtime to churn out amendments and new circulars/notifications
Income Tax planning for Childrens is not a childs play.Arjuna (fictional character): Dear Krishna, the festival of Christmas is being celebrated all over the world very joyfully. In this festival Santa Clause make exchange of gifts to a
When employer provides employee facility of rent free accommodation. value of it is taxable as a perquisites in salary head of income tax.For calculating perquisites value taxpayer has to follow two steps.step 1: find out unfurnished accommodatio
In an earlier previous post, we had a look at the basis of perquisite calculation on loans provided to employees and members of their household. According to Rule 3 (7)(i) of the Income Tax rules, the taxable value of benefit an employee derives on a
POWER TO CALL FOR GENERAL INFORMATION U/S 133(6) OF THE INCOME TAX ACT 1961- A STUDY INTRODUCTION:The Hon Supreme Court of India, in August 2013, pronounced its judgment in Kathiroor Service Cooperative Bank Ltd & Others V Commissioner of
We find many payroll managers being unaware that loans provided to employees (by the employer) are taxable in the hands of the employees. The typical reactions (from payroll managers) we come across when we talk about taxability of loans provided to
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