salaried employees

RBI/2010-11/298 RPCD.CORRB.AML.BC.No.31/ 03.05.33(E)/2010-11, December 06, 2010 Please refer to our circular RPCD. No. RRB. BC. 81/03.05.33(E) / 2004-05 dated February 18, 2005 on ‘Know Your Customer’(KYC) Guidelines – Anti Money Laundering Standards. In Annex II to the Guidelines on ‘Know Your Customer’ norms and Anti-Money Laundering Measures enclosed with the circular, an indicative list of [...] Full Article

Salaried employees may burn a hole in their pockets with the Government all set to impose tax on all perks –residential accommodation, conveyance and others -- paid for by the company, under a new law that replaces the already abolished Fringe Benefit Tax. Perquisites given by the employer such as residential accommodation, conveyance facility and other benefits to the family of the employee could soon be added to their salary for income tax purposes and the Governme.. Full Article

Corporate India is not the sole critic of the Direct Taxes Code. The code, precursor to a brand new income tax law, has found opposition from within government, too. An internal committee of the Central Board of Direct Taxes, the principal policy-maker in the domain, has called for a thorough review of the code, including a revision of the income tax slabs and the definition of 'income from salaries'. Full Article

New Direct Tax code 2009 has proposed to tax many benefit, receipts, allowances and perquisites which are either tax free or exemption is available in respect of that. We are discussing here some of these provisions. Full Article