Admissible Deductions from Income for Salaried Employees

Admissible Deductions under Chapter VI A and Section 16 of Income Tax Act 1961 Deductions from Salaries under Section 16 of Income Tax Act Entertainment Allowance [Section 16(ii)]: A deduction is  also  allowed under  section  16(ii)   in respect of any allowance in the nature of an entertainment    allowance   specifically    granted by an employer to the…

Income Not included under the Head Salaries for computing Income Tax

Income Not included under the Head Salaries for computing Income Tax under Section 192 of the Income Tax Act 1961 Want to Calculate your Income Tax for the year 2014-15 (A.Year 2015-16) ? Click here to reach GConnect Income Tax Calculator 2014-15 Any income falling within any of the following clauses shall not be included…

Income Tax Deduction from Salaries during FY 2014-15

Income Tax Deduction from Salaries during FY 2014-15

Income Tax Deduction from Salaries during FY 2014-15 under Section 192 of Income Tax 1961 – Circular No: 17 / 2014 issued by Income Tax Departmant Income Tax Department has issued Circular No: 17/2014 dated 10.12.2014 for Income Tax Deduction from Salaries during the Financial Year 2014-15 (Assessment Year 2015-16) under Section 192 of Income…

How to compute Income Tax Liability ? FAQ of IT Dept

How to compute Income Tax Liability ? – Compilation of Frequently Asked Questions on computing Income Tax liability of an Individual Other important Income Tax 2014-15 related articles: Income Tax Exemptions available to Salaried Employees in 2014-15 Instant Income Tax Calculator 2014-15 (Assessment year 2015-16) How to use new GConnect Income Tax Calculator 2014-15 ? …

Income Tax 2014-15 – Exemptions available to Salaried Employees

Income Tax 2014-15 – Exemptions available to Salaried Employees for the Financial Year 2014-15 (Assessment Year 2015-16) Finance Act 2014 has made following changes relating to determination of Income Tax payable by Salaried Employees, which provide income tax exemption varied from Rs.15,000 to Rs. 30,000 on the basis of taxable income of individual. 1. Taxable…

How to use new GConnect Income Tax Calculator 2014-15 ? 

GConnect launches new online Income Tax Calculator for the Financial Year 2014-15 (Assessment Year 2015-16) – It is fully Responsive (capable of viewing in array of devices such as Mobile, Tablet, PCs etc with different Screen sizes) GConnect always endeavors to provide up to date personal Income Tax information and easy to use Income Tax Calculators from…