Dearness Allowance (DA) - A Brief Overview
About Dearness Allowance Dearness Allowance is an element of salary paid, to staff members, to tackle inflation. All public sector establishments pay basic wages to their workforce, as per the [...]
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Understanding New Income Tax Slab and Rate for FY 2019-20
New Income Tax Slab and Rate - Key Highlights Interim budget 2019 proposed no modifications in the tax slabs. Under section (u/s) 87A, individuals with earnings up to Rs. 5.0 lacs will [...]
Section 143(1)
Letter Of Intimation Under Section 143 (1) Intimation under section 143 (1) is a notice sent to taxpayers containing the amount of tax payable along with interest issued. When you pay income tax [...]
Section 194H - TDS on Commission and Brokerage
What Is Section 194H? Under section 194H, income tax is levied on any income earned by an individual through brokerage or commission. In other words, as per section 194h of the income tax act, an [...]
Section 80GG: Claim Income Tax Deduction on Rent Paid
Section 80GG Section 80GG is introduced by the government to provide tax relief to those individuals who do not receive HRA but pay rent for their stay on a regular basis. Both self-employed and [...]
Section 80TTA: Income Tax Deduction on Interest on Bank Savings Deposit
Section 80TTA Section 80TTA provides a deduction of Rs.10000 on interest earned by an individual on his or her savings accounts income. Who is eligible for Income Tax Deduction under Section [...]
Section 80TTB - Income Tax Deduction for Senior Citizens
Section 80TTB Section 80TTB is a provision made by the government for taxpayer’s who are resident senior citizen’s having age of 60 years or more are eligible to claim maximum tax relief of Rs. [...]
Income Tax Return Filing Guide for Doctors
Whether you are into a noble profession of medicine or education, your income is taxable, if exceeds limit. In a society every job is important. It can’t be said since doctors are into noble [...]
Section 80EE – Income Tax Deduction on Home Loan Interest
What is Section 80EE? The Constitution of India has authorized the Central government to impose tax on income other than agricultural income as defined in Section 10(1) of the Income Tax 1961 and [...]
e-Tax Payment
What is TDS? Managed by the Central Board for Direct Taxes (CBDT), TDS, short form for tax deducted at source is a means of collecting income tax and is a part of the Department of Revenue managed [...]
