E-Verification while uploading a return (Non – NetBanking) Upload Return -> Click Submit The Return is uploaded (Pending for e-Verification) Four e-Verification options provided – Taxpayer can choose any one of the options provided to e-Verify the return. Option-1 -> “I already have an EVC and I would like to Submit EVC” Option-2 -> […]
LTA Exemption An employee is entitled to LTA exemption under section 10(5) of Income Tax Act in respect of LTA received for himself and his family (spouse, children, dependant parents, dependant brothers and sisters) for traveling to any place in India. The exemption is available for 2 journeys performed in a block of 4 calendar […]
Agricultural Income [Section 10(1)] As per section 10(1), agricultural income earned by the taxpayer in India is exempt from tax. Agricultural income is defined under section 2(1A) of the Income-tax Act. As per section 2(1A), agricultural income generally means: (a) Any rent or revenue derived from land which is situated in India and is used for agricultural purposes. […]
Good news to taxpayers, No more sending ITR-V by post after income tax filing – Verification with aadhar card introduced. Dear Taxpayers, There is a good news to taxpayers. CBDT recently announced that taxpayers who filed their income tax returns online will no longer have to send the ITR-V paper acknowledgement by post to CPC […]
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Download Steps for generate UAN Online A Universal Account Number (UAN) will be generated for each of the PF contributing members during the period 01/01/2014 to 30/06/2014 by EPFO. The UAN will act as an umbrella for the multiple Member Ids allotted to an individual by different establishments. The idea is to link multiple Member […]
Benefits available in EPF A small part of your salary, i.e., 12% of your basic salary is invested in Employee Provident Fund and an equal amount is matched by your employer each month. One can get pension under EPF The EPF part is actually for your provident fund and EPS is for your pension. The […]
Month Payment of T.D.S Quarterly T.D.S Return Payment of F.B.T Filing of Income Tax Return Tax Audit Report Advance Tax Payment Payment of Service Tax Service Tax Return ESIC Payments P.F Payment Vat Payment/ Monthly Return Vat Audit/ Statuatory Audit Profession al Tax Payment Return April 7th 15th (Salary) – – – – – 25th […]
The Supreme Court has held that an apprentice or a trainee is not an employee and the employer is not liable to contribute Provident Fund for him or her. A Bench, comprising Justice Arijit Pasayat and Justice R. V. Raveendran, held that trainees are apprentices engaged under the Standing Order of an organisation or under […]
194J:: The aggregate of the amounts of Fees for professional services to be paid during the financial year is exceeding Rs. 30000/- hence tax deduction is mandatory @ 10 percent while calculating Fees for professional services. Tax deduction can be @ zero percent if such amount does not exceed 30000 annual.
The Apprentices Act, 1961 The Contract Labour (Regulation & Abolition) Act, 1970 The Child Labour (Prohibition & Regulation Act), 1986 The Industrial Disputes Act, 1946 The Minimum Wages Act, 1948 The Payment Of Gratuity Act, 1972 The Industrial Employment Standing Orders Act, 1946 The Employees Provident Fund & Miscellaneous Provisions Act, 1952 The Equal Remuneration […]
FORM NO. B (See Rule 6 D) REGISTER IN RESPECT OF MOTOR-CAR OR OTHER CONVEYANCE USED FOR THE PURPOSE OF THE BUSINESS OR PROFESSION Date Period of use Reading of meter Distance Covered Name & Designation of the person using the Conveyance Place visited and purpose of visit Signature of the person using the […]
Download Income from House Property Download Income from House Property Calculator for Payroll & Salary PARTICULARS Self Occupied Property Let-out Property (1) Let-out Property (2) Let-out Property (3) Total Gross Annual Value – u/s 23(1) 0 0 0 0 0 Less: Municipal tax paid during the year 0 0 0 0 0 Net […]
Download – SBI Lending Rates for Perquisite Value Calculation SBI – Interest Rates for perquisite valuation FY 2014-15 SBI Lending Rates for Perquisite Value Calculation Loan Type Interest Rate As on 01.04.2012 Interest Rate As on 01.04.2013 Interest Rate As on 01.04.2014 (For Assessment Year 201314) (For Assessment Year 201415) (For Assessment Year 201516) Housing Loan […]
Calculate your House Rent Allowance (HRA) exemption know HRA exemption Calculation Formula and download HRA Calculator in excel format for easy calculation of exempt HRA Allowance out of Total HRA received by Salaried Assessee.
As per the tax department Circular No. 4/2013 [F.No.275/34/2011-IT(B)], AUTHENTICATION OF TDS CERTIFICATE IN FORM NO. 16: “Part A & Part B need to reconcile in terms of only tax deducted and deposited and if you match income, it is more preferred. It is further clarified that Part A of Form No. 16 issued […]