Tax Slab for FY 2018-19 (AY 2019-20) : Income Tax Rates The Interim Budget released redefined the income tax slab rates for individuals . Here's a brief overview of the same

 Income Tax Slab Rates: Highlights of 2019 Budget Tax Rebate  to individuals who are in ₹ 5lakh income tax slab rate Increase in the standard deduction, tax saving of ₹13,520 for 5 lakh bracket Please Note: This is applicable for the new Finacial Year 2019-20 The following article discusses the tax slab rates for the financial year 2018-19 in which, [...]

By | February 9th, 2019|Categories: IT Notices|Tags: , , , , , , , , , |Comments Off on Tax Slab for FY 2018-19 (AY 2019-20) : Income Tax Rates The Interim Budget released redefined the income tax slab rates for individuals . Here's a brief overview of the same

Salary Slip Format: Understanding the payslip The salary slip serves as a proof of employment as well as a proof of the last drawn income. In addition to this, it can also serve as a deciding factor for loan disbursal and for the issuance of Credit Card .Let's try to understand the salary slip format

Salary Slip Ah, Salary Day! It's fair to say that it is one of the happiest days of adult life when your phone lights up with the message: "Your account has been credited ....." or when you receive your paycheck. What many of us tend to ignore is the salary slip that comes along with the salary slip. The salary slip [...]

By | December 31st, 2018|Categories: Salary|Tags: , , , , , , , , , , , , |Comments Off on Salary Slip Format: Understanding the payslip The salary slip serves as a proof of employment as well as a proof of the last drawn income. In addition to this, it can also serve as a deciding factor for loan disbursal and for the issuance of Credit Card .Let's try to understand the salary slip format

Breaking News: Income Tax Return and Audit Report Due Dates Extended Central Board of Direct Taxes (CBDT) has extended the due date for Income tax Returns and Audit Reports to...

Today, on the 24th of September The Central Board of Direct Taxation (CBDT) released in which Income Tax Return and Audit Report due dates extended to 15th October from 30th of September. This due date was pushed forward in lieu of a request made by various stakeholders across many organizations. However, the due date for purpose of Explanation 1 to [...]

By | September 24th, 2018|Categories: IT Notices|Tags: , , , , |0 Comments

Income from Salary

Income from salary is the income or remuneration received by an individual for services he is rendering or a contract undertaken by him. This clause essentially assimilates the remuneration received by a person for the services provided by him under the contract of employment. This amount of remuneration will be considered as income for the purposes of Income Tax Act only [...]

By | July 15th, 2017|Categories: Advanced Concepts, Salary|0 Comments

Notice u/s 156 – Notice for Demand

Section 156 tax notice is the notice of demand issued by the Income Tax Department when any tax, interest, penalty, fine or any other sum is payable in consequence of any order passed. The section 156 tax notice of demand will specify the sum which is payable. This demand notice is generally accompanied by an intimation notice under section 143(1) [...]

By | July 11th, 2017|Categories: IT Notices|0 Comments