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Tax Tips

If I quit my job now how much gratuity can I get?

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Everyone would have heard about Gratuity. It is a lump sum payment made by the employer to an employee in appreciation of the past services rendered by the employee. Payment of gratuity is governed by the Payment of Gratuity Act, 1972. This Act provides for a scheme for the payment of  ...

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Can a minor apply for PAN Card?

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Yes. A minor can apply for PAN Card (Permanent Account Number) represented by either parent.  Is PAN card required for a minor? In our practice, we have come across many people who seeks our services to obtain PAN card for their ‘just born’ or ‘just started walking’ kids! When such ...

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Electronic Upload of Purchase and Sales Statement (eUPaSS) in Karnataka

Electronic Upload of Purchase and Sales Statement (eUPaSS) in Karnataka

Karnataka Commercial tax department has issued Notification No. CCW/CR44/2013-14 dated 29-04-2014 with regard to furnishing of details in respect of purchases, sales, and stock transfer electronically Electronic upload [E-Upass] implies submission of Purchases and Sales statements online at the department’s portal. How it helps the trader community? It will minimize disputes ...

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What constitutes Agricultural Income?

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Agricultural Income is exempt from income tax as per Section 10 of Income Tax Act, 1961. However, for those people who have non-agricultural income (such as business or salary, etc.) the agricultural income is included for the purpose of computing the tax. Suppose, by including agricultural income, the aggregate income ...

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