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...
Indian tax law taxes not just salary but also perquisites like rent-free accommodation, company cars, and stock options, increasing taxable income.
The Income Tax Act treats salary and house property income under distinct principles of employment and ownership. The key takeaway is that taxability depends on the source and statutory classification of income.
The draft rules revamp perquisite valuation and allowances, raising car-related taxes while expanding relief for education, HRA, and small perks.
The draft Income-tax Rules, 2026 consolidate perquisite valuation into a single framework and significantly raise exemption limits. Employees gain clearer rules and higher tax-efficient benefits.
Explains how the new tax regime under Section 115BAC impacts higher-income salaried taxpayers, analysing the 25% slab, loss of deductions, marginal tax effect, and whether salary hikes still lead to real take-home growth.
This explains how salary income is taxed under Sections 15 to 19 of the 2025 Act. The key takeaway is that both cash and non-cash employment benefits are comprehensively covered.
The article breaks down salary components such as basic salary, allowances, and perquisites. It highlights which parts are fully taxable and which may qualify for exemptions.
The rules clarify how rent-free or concessional housing is taxed differently for government and private employees, depending on location and salary structure.
Explains how Section 87A rebate applies only below fixed income limits, while the standard deduction continues to reduce taxable salary irrespective of income level.
Explains how salary is defined under tax law, including employer–employee requirements, included payments, and taxable perquisites. Highlights key distinctions from professional and business income.
