Income Tax : In some cases companies extends loan facility to its employee for various purposes – like education, medical treatment, marriage...
Income Tax : As we all aware that the Public Provident Fund (PPF) is considered as most important and safe amongst all tax saving investments s...
Income Tax : Introduction PPF is money that will be yours forever. Knowledge of the different features of the PPF account will help you when yo...
Income Tax : Article explains When to withdraw money from PPF or take loan against PPF Deposit, Extracts of Public Provident Fund Scheme, 2019 ...
Income Tax : Meaning of allowance Allowance is generally defined as fixed quantity of money or other substance given regularly in addition to s...
In some cases companies extends loan facility to its employee for various purposes – like education, medical treatment, marriage, etc. These loans are generally free and recovered from salary of employees in the form of deduction of equal amount over a period of time, which vary from 6month to 7 years as per policy of […]
As we all aware that the Public Provident Fund (PPF) is considered as most important and safe amongst all tax saving investments schemes. This scheme is falls under the EEE category i.e Exempt, Exempt and Exempt which actually means if you invest in it, you will get a deduction u/s 80C on your income. Further, […]
Introduction PPF is money that will be yours forever. Knowledge of the different features of the PPF account will help you when you want to take a loan against the account, withdraw from the account, re-activate a discontinued account etc. Here an attempt is made to introduce you all features of Public Provident Fund (PPF) […]
Article explains When to withdraw money from PPF or take loan against PPF Deposit, Extracts of Public Provident Fund Scheme, 2019 facilitating loan from PPF account, Different between Loan From PPF and Withdrawal of PPF amount, Who can avail loan facility against PPF, How much loan you can take against PPF and Withdrawals from PPF […]
Meaning of allowance Allowance is generally defined as fixed quantity of money or other substance given regularly in addition to salary for the purpose of meeting some particular requirement connected with the services rendered by the employee or as compensation for unusual conditions. It is fixed, pre-determined and given irrespective of actual expenditure Under income […]
Cases where an employee work under two employer in a single financial year Normally an employee is employed under employer during whole financial year and thus no problem arises in deduction of TDS from salary. In this case all information relating to income of employee is readily available with employer and computation task is easy […]
India is a land of laws. We have to comply with various Acts, Laws, Rules and Regulations in a normal course of business such as Income Tax, Companies Act 2013, Service Tax, Limited liability Partnership Regulations, Partnership Act, Wealth Tax, Value Added Tax (VAT), XBRL etc. While carrying out day to day business operations, it […]
Fixed education allowance given in cash by the employer to the employee to meet the cost of education of the family members of the employee is exempt from tax to the extent of Rs. 100 per month per child (up to a maximum of two children). Moreover,any allowance granted to an employee to meet hostel expenditure of his child is exempt from tax to the extent of Rs.300 per month per child for a maximum of two children.
History of Wealth Tax Act Wealth-tax Act was introduced w.e.f. 01.04.1957 on the recommendation of Prof. Nicholas Kaldor forachieving twin major objectives of reducing inequalities and helping the enforcement of Income-tax Act through cross checks. Accordingly, all the assets of the assessees were taken into account for computation of net-wealth. The levy of wealth-tax wasthoroughly […]
Introduction After successful launch of Jan Dhan Yojana, Prime Minister Modi had last week launched the ‘Pradhan Mantri Jivan Jyoti Bima Yojana’, ‘Pradhan Mantri Suraksha Bima Yojana’ and the ‘Atal Pension Yojana’ in Kolkata; another step forward to secure more population under their financial inclusion programme.
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