Tag Archives: Income Tax

Quiz on Income Tax

  We have posted a series of QUIZ for the benefit of accountants. This one is about Income Tax. Hope this helps.   [mtouchquiz id=14 startscreen=’off’ showanswers=’end’ multiplechances=’off’]

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

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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Budget highlights – a first cut report

Basic exemption limit is increased from Rs.2 Lakhs to Rs.2.50 Lakhs What it means to you? Your annual taxes will be lesser by Rs. 5,150 i.e, monthly take home salary will go up by Rs.400. In case of senior citizens, the basic limit is increased to Rs.3 Lakhs. Investment deductible …

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