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हाउस रेन्ट अलाउंस (HRA) एग्जेम्पशन – सेक्शन 10 (13A)

क्या है हाउस रेंट अलाउंस (HRA) ? हाउस रेंट अलाउंस एक भत्ता है जो के एम्प्लायर अपने एम्प्लाइज को उनके घर का किराया चुकाने के लिए देता है । यह भत्ता एम्प्लोयी के हाथ में टैक्सेबल (कर योग्य) होता है हालांकि, आयकर …

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Best Guide on HRA Exemption – Section 10(13A)

What is HRA How to Calculate HRA Deduction Conditions to be satisfied for claiming HRA deduction Want your employer to take HRA deduction into consideration and thus deducting lower TDS Related Documents to Download How to Claim HRA in ITR Calculation Examples …

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Taxability of Medical Facilities

The taxable value of medical facilities provided by an employer to his employee shall be calculated as under Treatment in hospital maintained by employer Medical treatment provided to employee or any of his family members in any hospital maintained by the employer …

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Voluntary retirement or separation – Section 10(10C)

If an employee receives compensation(whether in one go or in instalments) on voluntary retirement or separation, Section 10(10C) provides for exemption for such amount, subject to a maximum of Rs. 5,00,000. This exemption is available to employee of any of the following:- …

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Retrenchment Compensation – Section 10(10B)

Retrenchment compensation received by an assessee shall be exempt of the least amount from the following. Actual amount received 5,00,000 An amount calculated in accordance with section 25F(b) of the Industrial Disputes Act, 1947 i.e 15 days average pay x completed year …

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Pension – Section 10(10A)

Uncommuted pension i.e pension received in regular instalments is taxable for all employees. Commuted means to pay in one time rather to pay in instalments. Commuted pension is exempt from tax as per the following provisions: Employees of Central Government, State Government, …

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Gratuity Exemption – Section 10(10)

If Gratuity is received by any employee while in employment then it is fully taxable in the hands of employee. While if gratuity is received in case of death or retirement or resignation, then exemption is available up to the following limits. …

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Leave travel concession – Section 10(5)

What is Leave Travel Allowance (LTA)? Conditions and Calculation for exemption of LTA Maximum amount of deduction Other Points to be kept in mind How to claim Leave travel allowance (LTA) in Income Tax Return What is Leave Travel Allowance (LTA)? Leave …

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Fringe Benefits

Fringes benefits taxable in case of all employees: – (1) Interest free or concessional loans from employer Taxable Value = Maximum outstanding monthly balance X Rate charged p.a. by SBI on similar loans on 1st day of the relevant previous year – …

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Taxability of Salary

Salary is taxed on due basis or receipt basis, whichever is earlier. Therefore if any advance salary is received which is related to forth coming periods, then it is chargeable to tax in the year of receipt. Arrears of salary are taxable …

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