income from salary pdf


IT dept rejects Rs 2 lakh crore IDS declaration by a family from Mumbai

Verification of High Value Suspicious Declarations made under the IDS 2016 An Income Declaration Scheme IDS was announced in the Union Budget 2016 17 under which declaration of undisclosed income or assetcould be made by agreeing to pay forty five percent 45 of the declared amount as tax surcharge a

No seizure of gold jewellery upto 500 grams per married lady and 250 gm for unmarried

Government clarifies that the apprehension sought to be created that the jewellery with the household which is acquired out of disclosed sources or exempted income shall become taxable under the proposed Taxation Laws Second Amendment Bill 2016 is totally unfounded and baseless In the wake of Taxati

IBA directs banks to accept payment of instalments under IDS 2016

No RB CIR OTC IDS 1404A November 25 2016 The Chief Executives of All Member Banks Dear Sir Madam Income Declaration Scheme 2016 Grievance regarding non acceptance by banks of payments under IDS 2016 through ITNS 286 We have received a communication dated November 23 2016 from RBI on the captioned su

Salary Advance for Nov 2016 to be paid to Non-Gazetted Employees of Central Government

Ministry of Finance Department of Expenditure Office of Controller General of Accounts Mahalekha Niyantrak Bhawan New Delhi No 3 2 TA Cash Remittance 2016 606 Dated 17 11 2016 OFFICE MEMORANDUM Subject Salary Advance for the Month of November 2016 to be paid to Non Gazetted Employees of Central Gove

Govt warns 2.5 lac exemption for cash deposit not for bank accounts that are misused

Strict Action against Tax Evaders using other persons Bank Accounts to convert their Black Money into New Denomination Notes Person s who allows His Or Her Bank Account to be misused for this purpose can be Prosecuted for Abetment under Income Tax Act Government appeals to people NOT to come in the

More News

Experts Opinions

whether rental income by a company come under the head PGBP or IFHP

Our company receive rental from commercial let out to emirates of which property belong to company name Company management want it be a part of pgbp but auditor says it should be shown under ifhp for this reason company not avail to claim business expenditure highly and we have to claim only straigh

taxation of income from sale of milk

income from sale of milk whether taxable as businesses income or other income and if taxable as businesses income how accounting entry would be passed in books as the assesse have cows which is a source of milk for the assesse and how to show cows as assets in books

Income tax on rent recived by tenant by subletting

This is a question regarding the Income on house property Person A lease his house H to his mother B A doesnt lives in house H but B lives in that house There is nominal lease amount X Now B gives part of the house H to grandson C on rent C pays a hefty amount Y of rent to B Now if B shows the incom

Agricultural income

Hello Experts my friend had agricultural land and he sold the agricultural produce to agro based companies All the transactions was done through bank The bank transactions for F Y 2014 15 is Rs 2 3 crores assuming that Profit is 1 He has a another business having turnover Rs 45 Lakhs He received a n

Income Tax Appeal

Assessee is Non resident not having PAN order under 144 made by AO Is he can submit form 35 for appeal offline and how to pay the appeal fees


Tax exemption (section.?)on salary paid to "unicef" employee

Hi My friend is drawing salary from UNICEF and they simply issed one lettermentioning that total salary drawn during the year and that salary is exempt feom tax My friend wants to file Return please suggest me that under which section salary from unicef is exempt from tax and which itr form has to f

Meaning of serve u/s 153 of income tax act 1961

what is the meaning of serve u s 153 for the purpose of completion of assessment as per 147

IT -LTCG or Buss.Income- land for development basis and JV

What is to be thought of as best tax planning tool legal diffrennce as well as through LTCG or Business income treating in land held for more than 10 years given to a developer i should the land owner show as on development basis with taking around 8 as present land value of government ready recokne

Income tax on rent recived by tenant by subletting

This is a question regarding the Income on house property Person A lease his house H to his mother B A doesnt lives in house H but B lives in that house There is nominal lease amount X Now B gives part of the house H to grandson C on rent C pays a hefty amount Y of rent to B Now if B shows the incom

Income tax liability

Dear Friends My question is related to Farming of Fish My one client is doing farming of ZINGA Fish I want to know that is this Zinga Farming Income is Taxable under income tax act If yes than Is Tax calculation is simmilar to regular method or is there any special method is provided by goverment If

More Messages

File Download

More Files


A complete list of Penalties under Income Tax Act, 1961

1 Penalty under Section 270A Penalty for under reporting and misreporting of income If during the assessment proceedings it is found that an assessee have under reported or misreported his income then penalty u s 270A will be imposed on the Assessee This is the harshest penalty that can be imposed b

Income Computation And Disclosure Standards - In Brief

Income Computation and Disclosure Standards ICDS Section 145 2 of the Income Tax Act 1961 confers powers to the Central Government to notify accounting standards to be followed by any class of assessee Exercising that power the Central Government introduced Income Computation and Disclosure Standard

Currency Ban: How penalty cannot be imposed on cash deposits in bank account under Income Tax Act, 1961

Introduction We are going through a very unusual phase of Indian economy where people are rushing nowhere carrying cash in hand I have experience it first time when people are ready to pay the full amount of tax or they are ready to even forego 50 of the amount still they are not able to buy peace o

Immunities under Income Tax Act, 1961 - In Brief

If a person co operates with tax department in disclosure of income the assessing officer normally grants immunity as permitted under the Income Tax Act However the final decision on whether to grant or not rests with the concerned tax authority where the appeal lies Here are the immunities availabl

Newly Inserted Section 270A Income Tax Act, 1961 - An analysis

Background of Section 271A The Income Tax Act has inserted sub section 7 in section 271 to provide as The provision of Section 271 shall not apply to and in relation to any assessment for the assessment year commencing on or after 01 04 2017 Due to the insertion of the said sub section in Section 27

More Articles

Updated on : 12/7/2016 12:48:08 AM


× Online Coaching My Enrolled Courses
Articles Forum News Experts Exams Share Files Income Tax Accounts Career Corporate Law Service Tax Video Judgements Rewards Top Members Events Albums Find Friends Featured Feed Scorecard Bookmarks Mock Test Poll Notification Knowledge Finder Coaching Institutes Trainee Corner Jobs
close x