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As per the Act, the gratuity amount is 15 days’ wage multiplied by the number of years put in by you. Here wage refers to basic salary plus dearness allowance. Take the monthly salary drawn by you last (basic + dearness allowance) at the time of resi
Section 80DD allows a deduction to an individual or HUF if the person has incurred in the previous year any expenditure on medical treatment (including nursing), training and rehabilitation of a dependant with a disability or paid or deposited
Section 10(11) and 10(12) of the Act deal with exemption on payments from provident funds, while section 80C of the act deals with allowance of deductions on contributions to provident funds. The following are the types of provident funds. Recognized Provident Fund (RPF) – This scheme is applicable to an organization which employs 20 or more employees.
Salaried Employees furnish a deceleration to their employer in respect of Income Tax Deduction they are eligible under various provisions of Income Tax alongwith Supportings. Employers consider these declaration and supporting while calculating TDS to be deducted on Salary of their employees.
M/s. Venus Wire Industries Pvt. Ltd. Vs Commissioner of Central Excise & Service Tax (CESTAT Mumbai) In this case, the U.S. Department of Commerce and European Commission issued notices to the assessee for levying anti-dumping duty on the goods exported by it. For the purpose of effective participation before the anti-dumping authorities, the appellant had […]
Although the petitioner enjoys provisional registration, the final registration could not have done as the office of the petitioner is located at a very remote area. Such area had faced various political problems over a considerable period of time, preventing the petitioner from taking appropriate steps with regard to obtaining of final registration.
At the first it is to clarify that the objective of this article is not to focus on which is the best vehicle to invest in but rather to clear up the GST implication on investment for start- up.
DDIT Vs M/s. Paramasiva Naidu Muthuvel Raj Education Trust (ITAT Chennai) It is also an undisputed fact that during relevant assessment year, the land had been made available to M/s. PMR Bangaru Subbammal Educational Trust, which is a Trust that does not have registration u/s.12AA of the Act. It is also an undisputed fact that […]
Agricultural operations carried out by assessee on land/soil, being human skill and labour were basically agricultural operation and as such just because mushrooms are grown in controlled conditions it does not negate claim of assessee that income arising from sale of such mushrooms was agricultural income and thus exempt under section 10(1).
M/s. Rane Brake Lining Ltd. Vs Commissioner of GST & Central Excise Puducherry (CESTAT Chennai) The first issue that arises for consideration is whether the appellant is eligible for credit of the service tax (ST) paid on product liability insurance. The department has denied the same on the ground that it is post-manufacturing activity and […]
