Income tax exemption for gratuity – Rs. 20 lakhs w.e.f. 29.03.2018
Income tax exemption for gratuity - Enhanced Upto Rs. 20 lakhs w.e.f. 29.03.2018 - Gazette Notification
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Income Tax
Only those with income up to Rs 5 lakh to pay no tax, rates remain same for all others
Finance Minister Piyush Goyal has proposed that individuals with annual income up to Rs 5 lakh will get full tax rebate under section 87A.
Shalini Jain, Partner, EY India says, “This means that…
Income Tax Relief under Section 89 of Income Tax Act – Updated GConnect Calculator
Income Tax Relief under Section 89 of Income Tax Act - Income Tax Relief under Section 89 of Income Tax Act - GConnect Calculator to determine IT Relief for Arrears of Income from Salary received in…
What are all the Income subjected to Income Tax under the Head Salaries ?
What are all the Income under the head Salaries in the case of an Salaried Employee (Section 17 of the Income Tax Act 1961) ?
Income tax 2018-19 – Circular for deduction from salary
Income-Tax Deduction from Salaries during the Financial Year 2018-19 under Section 192 of the Income-tax Act, 1961
No TDS for Senior Citizens upto 50,000 – CBDT Notification
TDS deduction under section 194A of the Income tax Act, 1961 - No TDS upto 50,000 in case of Senior Citizens – CBDT Notification
Income Tax for the year 2018-19: How much salaried employee can save?
Income tax is the hard truth that every salaried employee in the taxable bracket has to live with. It has to be paid. In spite of this, it is commonplace to find people not making wise and timely…
New direct tax law to replace the existing Income Tax Act 1961
The government had set up a six-member task force to draft a new direct tax law to replace the existing Income Tax Act 1961.
GConnect Income Tax Calculator for Pensioners – FY 2018-19 (Assessment Year 2019-20)
Income Tax Calculator 2018-19 for Central Government Pensioners launched - Simple and effective Income Tax Calculation Tool exclusively based on Central Government Pension income, and deductions…
Income Tax Department – New PAN card rules from December 5 to prevent tax evasion
With an objective of preventing tax evasion in the future, the Income Tax Department will introduce new Permanent Account Number (PAN) card rules with effect from December 5, 2018.
The notification…
Restaurants and hotels not giving Service charge to workers – CBDT
NEW DELHI: Restaurants and hotels imposing service charge on customers in the name of tips but not passing them full to their employees could court trouble from taxmen. Central Board of Direct Taxes,…
Centre provide Incentives/Rewards to Income Tax Officers, Experts Fear return of “Tax Terror Regime”
Alarmed by the rising mountain of direct taxes stuck as arrears or in litigation, the Finance Ministry has come up with incentives/rewards for ‘performance by appellate income tax officers in order to…
Income Tax Returns (ITR) filing: Clubbing of Rental income in the hands of beneficial owner
Can I take a home loan and buy a house in my wife’s name, who is a housewife? Since I am working I will pay the EMI. We plan to rent out the house and show the rental income in her income to reduce my…
GConnect Income Tax Calculator 2018-19 (Assessment Year 2019-20) with Save Option
GConnect Income Tax Calculator 2018-19 (Assessment Year 2019-20) with Save Option - Trusted by more than 52000 Registered Users
Income Tax 2018-19 – Form 12BB – Salaried Employees to submit details of savings, housing loan, deductions…
Download Form 12BB as a Word, Excel or PDF file- All Employees to file Declaration under Form 12BB to claim deduction for savings under Section 80 C, payment of house loan interest under Section 24,…
IT department proposes online filing of tax exemption application
NEW DELHI: Educational institutions, hospitals, charitable and religious trusts will soon have to file the online application for seeking income tax exemption, the I-T department said Monday.
The…
Income Tax Exemption on Interest Paid on Housing Loan – Updated information for 2018-19
Income or Loss on House Property Calculation - From the Financial Year 2017-18 Section 24 of Income Tax Act allows only Rs. 2 lakh as Exempted income / Loss allowed to deducted from Income in respect…
Income Tax Benefits on Health Insurance under Section 80D of Income Tax Act
Income Tax Benefits - Deduction in respect of health insurance premia under Section 80D of Income-tax Act, 1961-2018
What are all the Deductions allowed from my Salary Income for the year 2018-19?
What are all the Deductions allowed from my Salary Income for the year 2018-19?
GConnect Income Tax Calculator 2018-19 for Central Government Employees
GConnect Income Tax Calculator 2018-19 (Assessment Year 2019-20) - Easy to use Income Tax Planning tool for Central Government Employees and Pensioners