income from salary pdf

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5.27 lakh taxpayers submit their online response to cash deposit notice


Operation Clean Money by IT Dept gets overwhelming response More than 5 27 lakh taxpayers submitted their response till 12th February 2017 Last date for the submission of online response extended up to 15th February 2017 The IncomeTaxDepartment ITD had initiated Operation Clean Money on 31st January

Expeditious issue of refunds is high priority says CBDT


Expeditious issue of Refunds is a High Priority for the Central Board of Direct Taxes CBDT Over 4 19 crore Income Tax Returns ITRs processed and over 1 62 crore refunds issued during the Current Financial Year up to 10th February 2017 The Centralised Processing Centre CPC of the Income Tax Departmen

Tax Relaxation under NPS


The Finance Act 2016 amended the Income tax Act 1961 the Act to provide that 40 of the amount payable to the employee subscriber of NPS on his closure of account or his opting out of the scheme shall be exempt from tax Further Finance Bill 2017 has proposed to amend the Act to provide exemption from

Income tax rates in respect of income liable to tax for AY 2017-18


DIRECT TAXES A RATES OF INCOME TAX I Rates of income tax in respect of income liable to tax for the assessment year 2017 18 In respect of income of all categories of assessees liable to tax for the assessment year 2017 18 the rates of income tax have been specified in Part I of the First Schedule to

Restriction of Rs 2 lac on set-off of loss from House property


Section 71 of the Act relates to set off of loss from one head against income from another In line with the international best practices it is proposed to insert sub section 3A in the said section to provide that set off of loss under the head Income from house property against any other head of inc

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Experts Opinions

Income tax deductions


CAN ANYBODY TELL ME THAT IF A PERSON IS A GOVERNMENT EMPLOYEE AND HAS EXHAUSTED HIS LIMIT OF 1 50 000 RS OF SECTION 80C THEN WHAT ARE THE OTHER WAYS TO SAVE TAX

Income tax


I am govt employee within which particular date form no 16 given by employer to employee

income tax


financial year starting from 01 04 17 and ending on 31 03 18 from which particular date or month any person can file income tax return every year

Income from sale of prawn from prawn culture


respected sir whether income from sale of prawn prawn culture is exempted from income tax as agricultural income or not thanking you

Income tax return


I HAVE RETAIL TRADING BUSINESS OF KIRANA AND PROVISION STORE TOTAL SALES APPROXIMATELY 25 LAC I HAVE MINI BUSINESS IS IT REQUIRED FOR TIN NO OR NOT PLS HELP

Discussion

Income from house property

CHARGING SECTION OFHOUSE PROPERTY SECTION 22 The annual value of property consisting of any buildings or lands appurtenant thereto of which the assessee is the owner other than such portions of such property as he may occupy for the purposes of any business or profession carried on by him the profit

Meaning of person u/s 2 (31) of income tax act

Sir can I write the meaning of Person u s 2 31 of Income tax act as a person is one who can be assess under Income Tax act And if it is wrong than what should be correct meaning of Person Thanking you Regards Abdul Aziz

Speculative business income

What tax rate should a person pay if his only source of income speculative business if so how effectively avoid such by

Income tax

One of my friends has received from a software company equivalentto 1 year salary as compensation upon termination of his contract as an employee as asignoff compensation for the loss of his work and in consideration of his long time association with the company The company has deducted the TDS alon

Depreciation under the income tax act , 1961

Fire Fighting equipments and systems Under which block is this covered and can we claim 100 in the year of purchase since these are of no usage to production

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Articles

Analysis of Income Tax Proposals for Layman as well Tax Practitioners


1 Income Tax slabs are not changed but the tax rate for first taxable slab of income from Rs 2 50 001 Rs 3 00 001 to Rs 5 00 000 is decreased from 10 to 5 So now there will be directly a slab of 20 after the slab of 5 tax As in the case of very senior citizens every individual being a resident in In


Benefits of digital turnover under 44AD of Income Tax Act


Following demonetization the government has taken several steps to encourage digital payments to promote less cash economy In the month of December 2016 Ministry of Finance has issued two notifications which will lead to increase in the digital transaction in the business organization Lets have a lo


Clarification on implementation of GAAR provisions under the income tax act,1961


TheGeneral Anti Avoidance Rule GAAR provisions shall be effective from the Assessment Year 2018 19 onwards i e Financial Year 2017 18 onwards The necessary procedures for application of GAAR and conditions under which it shall not apply have been enumerated in Rules 10U to 10UC of the Income tax Rul


The Art of Drafting Submissions and Arguing Income Tax Appeals


Introduction In this article an attempt has been made to give a practical guide to the art of drafting submissions and arguing the income tax appeals before various income tax appellate fore like the Commissioner of Income Tax Appeals and Income Tax Appellate Tribunal ITAT so as to fine tune the inc


Clubbing of minor income


In the present article the author has explained the provisions relating to clubbing of Minor Income It is a general perception that income of minor child is clubbed with the parents income However there is an exception to the rule that if the minor earns income by skills then this income will not be


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Updated on : 2/20/2017 3:27:08 AM


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