Income Tax Articles

Deduction on Interest Income: Under Section 80TTA/80TTB

VISHAL BANSAL 21 November 2018 at 11:36

80TTA Deduction Limit (Maximum Rs. 10,000)Eligibility- This deduction is available to a Resident Individuals or HUF. Deduction limit- The deduction can be avail..

Income Tax Exemption on Gratuity

VISHAL BANSAL 20 November 2018 at 11:06

Introduction:Gratuity is a monetary benefit given by employer to his employee after rendering a service of minimum of 5 years or more in his establishment. Grat..

Deciphering your 10 Digit PAN characters

CA Pratik Bhavsar 19 November 2018 at 12:28

Your Permanent Account Number (PAN) is a 10-digit alphanumeric number, which is used as your identity proof. Have you ever wondered how the combination is made ..

Leave Encashment, their Exemption and Tax liability

VISHAL BANSAL 19 November 2018 at 11:10

Introduction -During the service tenure, you are allowed various types of leaves e.g. Sick leave, Casual Leave, Earned Leave, etc. Sick leave and casual leaves ..

Why PPF is still the best investment?

Amit Kumar Bansal 19 November 2018 at 11:10

Public provident fund (PPF) is one of the best investment segments available in India. The government control the interest rate and guarantee the investor retur..

Agricultural Income and Tax liability

VISHAL BANSAL 17 November 2018 at 16:48

Agricultural Income as per section 10(1) earned by the taxpayer in India is exempt from tax. Agricultural income is defined under section 2(1A) of the Income-ta..

No end to harassment of Taxpayers

Manish 17 November 2018 at 16:48

It seems that there is no end of harassment for taxpayer even though there are lot of assurance provided by Prime Minister to improve the process.Given below, a..

How to calculate House Rent Allowance (HRA) Exemption

VISHAL BANSAL 16 November 2018 at 11:32

House Rent Allowance exemption under section 10(13A) is allowed if Salaried individuals getting House Rent Allowance as part of salary and full fill below two..

TDS Provisions under Income Tax Act, 1961

SIDDARTH AGARWAL 15 November 2018 at 11:12

TDS PROVISIONS UNDER INCOME TAX LAW WHAT IS TDS AND PURPOSE OF ITS INTRODUCTION TDS is abbreviated for tax deducted at source which was introduced to collect t..

Leave Travel Allowance Exemption and Tax liability

VISHAL BANSAL 15 November 2018 at 11:12

Introduction-Leave Travel Allowance is given to employee by his employer to cover his travelling expenses when he goes on vacations. Exemption is available for ..