income from salary


Simplification of ITR forms and issue of Pan cards

The Government has simplified Income Tax Returns ITR Forms for individuals and HUFs not having business or professional income In ITR Form No 2 and 2A the main form does not contain more than three pa

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Clarification on Reports Appearing on Black Money Act

Over last few days a number of reports have appeared in the media expressing views and concerns regarding the applicability of various provisions of the Black Money Undisclosed Foreign Income and Asse

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Commencement of Electronic Verification of Income Tax Returns for AY 2015-16

To facilitate the taxpayers and to provide end to end e enabled services the Income Tax Return for A Y 2015 16 can now be verified electronically A taxpayer may verify his return through Internet Bank

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Electronic Verification Code for efiled Income tax return

Electronic Verification Code for efiled Income tax return Please refer to the attached file for more details

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Procedure for claiming exemption u/s 11 for remittance to Nepal

Standard Operating Procedure SOP for making application for claim of tax exemption u s11 1 c of the Income tax Act in respect of remittance of money relief articles by IndianNGOs Charitable Organisati

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Experts Opinions

Section 80 g of income tax act

i paid Rs 1208 for donation to J and K flood relief fund i want to know that this fund comes under which category 50 or 100

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Income tax

Sir We are a subsidiary of Australian Company incorporated as an Indian Company under the companies Act 2013 The holding company has 99 share and the founder of holding company has 1 share in Indian C

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Banking rule and income tax treatment

If a depositor of tax saving Bank FD for 5 years dies in the 3rd year of deposit whether its nominee will get interest for the period of deposit or not on the pre mature withdrawal of FD Can a bank de

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What is adjusted total income

what is adjusted total income for alternative minimum TAX Please help how to arrived adjusted total income

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Notional rental income for one month on second property

I have a query regarding deemed notional rental income on second property not self occupied My relative received rent for 11 out of 12 months of the financial year 2014 15 a From April 2014 to August

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Filing of income tax return

Dear Experts I ve a doubt Please help me If a person has Rs 20 00 000 sales and 18 00 000 expenses Does he required to file Income Tax return If we opt from presumptive basis then taxable income will

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Income tax return

Ive used quick e file tab to file my return in ITR1 form TAX status TAB is automatcially chaging to TAX REFUNDBALE and it is not calculating automatically my tax amount At the end Im getting Tax refun

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Hra and income tax

Hi Im working in a private sector teritiary care hospital My salary includes HRA of Rs 3000 pm But the same is being deducted by my employer eventually making that money not reaching my account The ap

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Calculation of income for purpose of filing return

My query is related to calculation of Income for the purpose of filing the Income Tax Returns Assume that my gross salary is INR 10 00 000 ten lakhs only My company has delayed the salaries and has on

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Taxability of forign income

Dear Experts Greetings I Have one doubts One of our Clent Indian Company have started Trading Operationas Independent branch in Sharjah UAE Now the Question is what is the Tax treatment in indiafor th

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  • Calculation of Arm's Length Price

    Income Tax Act 1961


  • Methods of Calculation of Arm's Length Price

    Various methods of calculation of Arm s Length Price under Section 92 C of Income Tax Act 1961


  • Income Tax Calculator AY 2014-15, 2015-16, & 2016-17

    Income tax calculator Individual Company and Firm Following type income calculate tax 1 Salary income 2 House property 3 PGBP Income 4 Capital gain U s 111A U s 112 and Normal capital gain 5 Other source income 6 Agriculture income Interest calculate Under section 234A 234B and 234C Also HRA calculation


  • Revenue and Capital Expenditure

    Companies incur costs to acquire resources that will be used in operations to generate profits Every cost creates either an immediate benefit or a future economic benefit Determining when the company will realize the benefit from a cost is paramount When a cost creates an immediate benefit such as fuel used in delivery vehicles the company records the cost in the income statement as an expense When a cost creates a future economic benefit such as purchase of delivery vehicles to deliver the goods


  • EVC Notification

    EVC For Electronically filed income tax return


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Basic components of salary and its taxation

CTC is cost to company and the components are Basic HRA CONVEYANCE MOBILE REIMBURSHMENT MEDICAL reimbursement All allowances LTA employer contribution of PF Employer Contribution towards ESI Total var

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Indispensable components in the salary

Income Tax Not only is it a major expense but also an unavoidable one for each person to bear And if you draw a salary your tax expense is probably the highest Imagine you have recently joinedyour new

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Income tax deduction in India

Everyindividualwho earns an income inIndiais supposed to pay Tax on the Income earned by him during that financial year to thegovernmentofIndia Calculation of theIncome Taxto be paid by anindividualis

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New to income computation and disclosure standards (ICDS)? Here's what you need to know

INTRODUCTION Background Section 145 2 of Income taxAct 1961 empowers Central Government to issue Income Computation and Disclosure Standards ICDS Key Features of ICDS 1 Effective Date of ICDS is01stAp

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Agriculture Income and Expenditure, etc more details asked in New ITR

Karneeti Part 104 Agriculture Income and Expenditure etc more details asked in New ITR Arjuna Fictional Character Krishna in last week Income Tax Department has issued forms for filling Income Tax Ret

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Updated on : 7/27/2015 11:55:09 AM