- Friday, September 3, 2010, 7:34
- Income Tax
- 5 views
Pension products offered by insurers and mutual funds could be included in the long-term savings schemes eligible for tax concession available to individual under the new Direct Taxes Code provided they meet the norms laid out by the government.
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- Tuesday, January 5, 2010, 1:58
- Income Tax
- 2 views
The central trade unions will press for shelving of a proposal, that wants to tax withdrawals from savings schemes, including provident funds, at the pre-Budget meeting with Finance Minister Pranab Mukherjee on January 14. "(The) Finance Minister has invited trade unions for pre- budget consultations on January 14," All India Trade Unions Congress Secretary D L Sachdev told media.
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- Monday, August 24, 2009, 1:24
- Income Tax
- 758 views
It’s Traditionally been viewed as a retirement saving tool and one that allows you to avail of tax deductions. In fact, you will find that most conversations about provident funds only take place during the income-tax filing season, or when salaried individuals are retiring or leaving one organisation for another. In fact, fairly little is [...]
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- Sunday, August 16, 2009, 6:54
- Income Tax
- 41 views
The Direct Tax Code is a bit of a mixed bag for individuals, particularly the salaried class. Prima facie, the tax liability will reduce significantly as the draft code proposes to tax incomes up to Rs 10 lakh at 10%, that between Rs 10 lakh and Rs 25 lakh at 20% and sum in excess [...]
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- Friday, August 14, 2009, 2:38
- Income Tax
- 147 views
From April 1, 2011, finance minister Pranab Mukherjee has proposed to simplify the income-tax regime by reducing the tax rates on incomes above Rs1.6 lakh per annum (Rs1.9 lakh for women, and Rs2.4 lakh for senior citizens), but the reduced rates will come with few of the current exemptions.
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- Saturday, April 11, 2009, 3:37
- Income Tax
- 52 views
Extension of time limit set out in Rule 3 for complying with the condition laid down in Clause (ea) of rule 4 of Part A of the Fourth Schedule to the Income-tax Act Rule 4 of Part A of the Fourth Schedule to the Income-tax Act provides for the conditions which are required to be [...]
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- Thursday, November 22, 2007, 15:44
- Government Policy
- 11 views
Provident fund contributions need not be deducted from the payment made towards annual leave encashment, the Madurai Bench of the Madras High Court has ruled. Allowing a batch of writ petitions filed by various factories, Justice K. Chandru said leave encashment could not be considered part of the basic wage for deducting provident fund contributions. Employees usually did not exhaust their earned leave; they chose to encash them at the time of retirement, or the sum was..
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