Updates and details for What is House Rent Allowance? Calculation, Exemption Rules: House Rent Allowance: HRA or the House Rent Allowance is an amount paid by employers to employees as a part of their salaries. It provides employees with tax benefits for what they pay towards accommodations every year. The decision of how much HRA needs […]
Updates and details for Income from House Property: Taxes, Deductions: Rental income from a property being building or land appurtenant thereto of which the taxpayer is the owner is charged to tax under the head ‘Income from house property’. This is taxed in the hands of the owner of the property. The appurtenant lands may be in the
Updates and details for Residential Status and Tax Incidence: Residential status is determined on the basis of the physical presence of an individual in India during the relevant FY and the last 10 FYs. Basic conditions: An individual may qualify as a resident of India if he satisfies any one of the following basic conditions. Stay in India
Updates and details for What is Capital Gains Tax? – CGT in India: A capital gains tax is a type of tax levied on capital gains, profits an investor realizes when he sells a capital asset for a price that is higher than the purchase price. Capital gains taxes are only triggered when an asset is
Updates and details for Demand Draft – How to make/cancel DD? Bank Charges for DD: A Demand Draft which is also known as DD is a method used by an individual for making a transfer payment from one bank account to another. Demand Drafts is different from normal checks in that they do not require signatures
Updates and details for Form 12B in India – Previous Employer Salary Details: In this article, I have given the information about Form 12B and also the required details for Form 12B. So, just scroll down and read the article. Form 12B: Form 12b is an income tax form that needs to be provided according
Updates and details for Section 194J: TDS on Professional or Technical Fees: In this article, I have given the brief description of Section 194J. There are also some interesting topics like Key Points in Section 194J on TDS, Exceptions to TDS Deduction under Section 194J, Time Limit to Deposit TDS under Section 194J and also Professional or Technical
Updates and details for TDS on Commission/Brokerage Under Section 194H: In this article, I have given the definition of Section 194H and Commission/Borkerage. I have also given the details for TDS on Commission/Brokerage, Who is responsible for deducting tax u/s 194H and also Under what circumstances TDS u/s 194H is not deductible. So, just read the article carefully for
Updates and details for Analysis of Section 44AD and Section 44AE Income Tax Act: From here, you can get the introduction of Section 44AD and Section 44AE, Eligibility Criteria for the Presumptive Taxation Scheme Under Section 44AD and Section 44AE and also Purpose of Section 44AD. So, just scroll down and read the full article. Introduction: The presumptive
Updates and details for About Section 54, Section 54B, Section 54D, Section 54G/ 54GB: In this article, I have given you all the basic and important details of Section 54, Section 54B, Section 54D, Section 54G/ 54GB. So just read it carefully and stay tuned with us for more updates. S.No. Basis Section 54 Section 54B Section