Corporate Law : DA for PSU employees for Q1 2025-26 is calculated at 48.70%, showing a decrease of 0.90% from Q4 2024-25. The calculation is based...
Income Tax : This blog delves into the nuances of HRA, its exemptions, tax deductions, and the rules governing it, specifically within the Indi...
Income Tax : Understand whether director remuneration is taxed as salary or business income. Learn about tax implications, employer-employee re...
Income Tax : The standard deduction is one of the most popular deductions because it makes tax filing easier by lowering taxable income without...
Income Tax : Explore what’s taxable and non-taxable in salary, including allowances, perquisites and deductions. Learn key components and tax...
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 : 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 : ITAT Delhi's decision in the case of Sumaitri Bima Distributors Pvt. Ltd vs. ITO regarding non-applicability of S.40(a)(ia) for TD...
Income Tax : Since the assessee is a company as is established by the 143(1) intimation, question of assessing its income under the head ‘sal...
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...
Income Tax : No.2/4/2022-E.IIB Government of India Ministry of Finance Department of Expenditure *** North Block, New Delhi. Dated the 30th Dec...
Income Tax : CBDT issued Income Tax Circular No. 04/2022 on 15th March 2022 and explained all provisions related to deduction of Tax At Source ...
Discover when interest-free employee loans become taxable perquisites. Learn the rules, exemptions, and calculations for tax on concessional loans
Tax implications of rent-free or concessional rate accommodations provided by employers to employees in India. Understand valuation, exemptions, and calculations.
Discover tax treatment of retirement benefits in India, including gratuity, pensions, leave encashment, and provident funds. Understand exemptions and taxable components.
Explore taxability of various allowances, exemptions, and deductions for salaried employees in India. Learn about fully and partially taxable allowances, exemptions for HRA, and deductions under Section 80C and more.
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 August, 2023 related to Amended Income Tax Rules for Valuation of Accommodation Perquisite. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) CORRIGENDUM New Delhi Notification No. 72/2023-Income Tax | Dated: 29th August, 2023 […]
CBDT has modified Income Tax Rules, 1962, to determine the value of perquisite for residential accommodation provided by employers.
In this article, we will delve into the duty and responsibility of both employees and employers when it comes to tax savings and providing legitimate proof for tax deductions.
Learn about House Rent Allowance (HRA) and its tax benefits. Find out who is eligible to claim HRA and what to do if you don’t receive HRA.
Detailed insights into Section 89 of the Income Tax Act 1961, which offers tax relief on arrears or advance salary, pension, or compensation. Learn about eligibility, conditions, and more.
Understand LTC (Leave Travel Concession) claim provisions, eligibility, documents needed, and tax implications. Learn how to maximize the tax benefit for travel expenses.
