Interest Income Taxability

By |2017-07-12T13:00:47+00:00June 30th, 2017|Categories: Other Sources|

Introduction While filing income tax return online computation of Interest income is required and to be added under the head of Income from Other Sources. This is the income that is over and above the primary source of the income–salary, business or profession, house property or the capital gains. The attraction of tax can be done when [...]

Interest and tax saving on Fixed deposit

By |2017-07-12T13:00:35+00:00June 29th, 2017|Categories: Other Sources, Save Income Tax|

Introduction Interest income from Fixed Deposits is fully taxable. It is added to your total income and taxed at slab rates according to your total income. It is shown under the head ‘Income from Other Sources’ in your Income Tax Return. The tax is payable after addition of your interest income to your total income and [...]

Form 16: Part A and Part B

By |2017-07-19T06:04:04+00:00June 23rd, 2017|Categories: Other Sources, Salary, TDS|

Introduction Form 16 is a certificate, in which employer is certifying details regarding the salary and the deduction of TDS of the employee during the year.Form 16 is issued once in a financial year, on or before 31st May of the next year immediately following the financial year in which tax is deducted.It has two parts, [...]