Simplified Laws Guide to Taxation and Legal Concern 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’]
Read More »Quiz on Income Tax
Different type of communication letters sent by Central Processing Center (CPC)
My mail box is full of communication from Income Tax department. Of course, it is my profession, so I get the mails sent by the department to our clients. Believe me, reading and understanding the ‘intimations’ is a big task. Look at the following types of letters you may get …
Read More »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 …
Read More »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 …
Read More »10 points to look at while filing Income tax return of Salaried Employee
There is no rocket science involved in filing your tax returns. However, filing returns that is an annual activity coupled with frequent changes in the law, tax returns and formats may make the job bit complex. That’s it. In this article I wish to write about certain points which you …
Read More »