Articles by T E Gautham

Salary TDS - Marginal on Surcharge

Posted by T E Gautham 10 February 2014 22374 Views

As per the tax rates applicable for A.Y. 2014-15, if the annual taxable salary goes above Rs 1 crore, a surcharge of 10% on Income Tax is to be added to the Income Tax calculated as per the tax slabs. Consequently, the Total Income Tax calculation sh

Loan provided to employees- Perquisite calculation - Part II

Posted by T E Gautham 10 December 2013 22008 Views

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

Loan provided to employees- Perquisite calculation - Part I

Posted by T E Gautham 06 December 2013 36659 Views

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

Calculation of Tax Exemption on LTA

Posted by T E Gautham 25 November 2013 103314 Views

In an earlier post we looked at the conditions governing tax exemption on leave travel allowance (LTA). In this post we will look at the calculation of the tax exemption amount. As mentioned in the earlier post, the exemption is available only on tra

Tax Exemption on Leave Travel Allowance

Posted by T E Gautham 23 November 2013 31792 Views

As a company engaged in the business of payroll processing and statutory compliance related to payroll, we wonder if the tax law governing tax exemption on Leave Travel Allowance (LTA) is among the most complex tax legislations in India. Each year or