Income Tax : Explore the latest exemptions, deductions and allowances available under the Income-tax Act for AY 2026-27. The guide covers salar...
Income Tax : This guide explains the tax benefits, deductions, presumptive taxation schemes, and compliance relaxations available to small busi...
Income Tax : CBDT allows eligible salaried taxpayers with LTCG up to ₹1.25 lakh under section 112A to file ITR-1, simplifying return filing f...
Income Tax : This guide explains the tax treatment of salary, allowances, perquisites, retirement benefits, and deductions under the Income-tax...
Income Tax : The Income Tax Department is using AI, data analytics, AIS, and PAN-based verification to identify incorrect HRA exemption claims....
Income Tax : From April 2025, standard and family pension deductions will increase to ₹75,000 and ₹25,000 under the new tax regime, boostin...
Income Tax : Discover the Ministry of Finance's latest tax changes: ₹75,000 standard deduction, enhanced pension benefits. Potential savings ...
Income Tax : Perquisites includes the value of any concession in the matter of rent respecting any accommodation provided to the assessee by hi...
Income Tax : Cautionary Advisory on Reports of tax evasion by under-reporting income or inflating deductions/Exemptions by salaried taxpayers. ...
Income Tax : The Central Board of Direct Taxes (CBDT) has clarified that the pension received by a taxpayer from his former employer is taxable...
Income Tax : The ITAT Pune held that compensation received under an Early Retirement Scheme could not be taxed as profits in lieu of salary und...
Income Tax : The Income Tax Appellate Tribunal (ITAT), Chennai, held that an ex-gratia payment received by an employee upon the closure of the ...
Income Tax : In the case of Sanjay Baweja Vs DCIT, the Delhi High Court ruled that one-time payments in lieu of ESOPs do not constitute salary ...
Income Tax : ITAT Delhi dismisses Revenue's appeal against order of Commissioner of Income Tax (Appeals) regarding valuation of perquisites and...
Income Tax : Explore the ITAT Delhi ruling on Devi Dayal Vs DCIT regarding taxation of salary earned by a non-resident outside India. Detailed ...
Income Tax : CBDT amends Income-tax Rules 1962. This change, effective August 21, 2025, revises Rule 21AIA, omitting sub-rule (4) and redefinin...
Income Tax : CBDT notifies new perquisite rules under Section 17(2); salary limit ₹4 lakh and gross total income limit ₹8 lakh for claiming...
Income Tax : Key updates on income tax deduction from salaries under Section 192 for FY 2024-25, including amendments, surcharge rates, and new...
Income Tax : Corrigendum for the Notification bearing G.S.R. No. 615 (E) dated 18.08.2023 i.e. Income Tax Notification No. 65/2023 dated 18th A...
Income Tax : CBDT has modified Income Tax Rules, 1962, to determine the value of perquisite for residential accommodation provided by employers...
Understand the tax implications of arrears of salary and explore relief options under Section 89(1). Learn the calculation process for tax relief and the importance of filing Form 10E to claim relief. Stay informed about taxability, provisions, and steps to ensure a smooth process.
Discover the significance of Form No. 12BB in the context of submitting Income Tax returns for salaried individuals and pensioners. Learn about the details required and how it aids in estimating TDS on Salary. Stay informed about the rules and regulations to ensure a smooth tax filing process.
Understand the tax implications of Leave Encashment as we approach the financial year-end. Explore when it’s taxed under salary, exemptions for government and non-government employees, and how to calculate the exempt amount. Get insights into Mr. Navankur’s case for a practical understanding.
Since the assessee is a company as is established by the 143(1) intimation, question of assessing its income under the head ‘salary’ does not arise. Impugned order is, therefore, liable to be set aside.
No.2/4/2022-E.IIB Government of India Ministry of Finance Department of Expenditure *** North Block, New Delhi. Dated the 30th December, 2022. OFFICE MEMORANDUM Subject: Compendium of Instructions regarding grant of House Rent Allowance to Central Government employees -regarding The Department of Expenditure, Ministry of Finance has issued various instructions from time to time regarding grant of […]
There should exist an employer and employee relationship among the person then only you will include the amount in your salary. salary paid by the payer to the payee or any amount like gratuity, pension, perquisite, allowance, etc. won’t to taxable under the head salary.
Perquisites includes the value of any concession in the matter of rent respecting any accommodation provided to the assessee by his employer.
Learn how tax planning can help salaried employees save money on income tax. Discover deductions, exemptions, and allowances that can reduce your tax liability.
The phenomenal growth of the Indian economy has resulted in a large number of salaried income tax filers. In India, it is estimated that there are about 8.50 crore tax-filers and of which the salaried and managerial personnel constitute the largest segment.
Salary of accountant cannot be treated as professional service for managing books of two firms to invoke TDS under section 194J
