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Posted On:  2 years ago


Professional Tax Rate State wise in India

Professional Tax Is subject matter of State in India. Each State decide Professional Tax amount depending upon gross amount of Income / Salary. Following is the State wise List of Professional Tax Applicable in India. Profession tax, or tax on employment, is levied by a state under article 276 of the Constitution. The amount paid, as Profession Tax, is however exempted while calculating the taxable income of the employee.

article author CA Chirag Chauhan

Posted On:  2 years ago


Missed to Submit HRA declaration to Employer? You can claim HRA at the time of Filing Returns and get Refund from Income Tax

HRA (house rent allowance) means is the amount paid by the employer to employee for the rent of the resident house of employee it is a part of salaries. The decision of how much to pay HRA is depends on the employer. The amount of such HRA is deductible under section 10(13A). The amount of deduction allowed under this provision is least of the following:

article author CA Chirag Chauhan

Posted On:  2 years ago


HRA House Rent Allowance Section 10(13A) - under the Income tax act 1961

HRA (house rent allowance) means is the amount paid by the employer to employee for the rent of the resident house of employee it is a part of salaries. The decision of how much to pay HRA is depends on the employer. The amount of such HRA is deductible under section 10(13A). The amount of deduction allowed under this provision is least of the following:

article author CA Chirag Chauhan

Posted On:  2 years ago


Leave travel allowance section 10(5) under the Income tax act 1961

We go on travel with our families; if we can get tax benefits, why waste it. This article on leave travel allowance is focused on the taxability and some other interesting points which a salaried employee must keep in mind. Have you claimed LTA? Leave Travel Allowance (LTA) is the most common type of compensation adopted by employers to remunerate employees due to the tax benefits attached to it. An LTA is the remuneration paid by an employer for Employee’s travel in the country, when he is on leave with the family or alone. Amount from LTA is tax free. Section 10(5) of the Income-Tax Act, 1961, which provides for the exemption and outlines the conditions subject

article author CA Chirag Chauhan

Posted On:  2 years ago


Section 80GG: Deduction for Rent Paid

Section 80GG provides for Deductions for House Rent paid, provided that a deduction for payment of House Rent has not been claimed under any other section of the income tax act.

article author Sumit Gupta

Posted On:  2 years ago


Tax provisions for Salaried Employees

Tax planning for salaried employees, Tax provisions for salaried employees, How salaried employees can save their taxes ? How salaried employees can plan their tax better ??? This article provide all and important provisions of taxation of salary Income

article author CA Nikesh Sheth

Posted On:  2 years ago


Procedure for Change in Object Clause as per Companies Act’ 2013

Procedure for Change in Object Clause as per Companies Act’ 2013

article author CA Pratik Anand

Posted On:  2 years ago


Why to invest in National Saving Certificate ?

Know all about National saving certificate and what are tax benefits of investing in National Saving certificate. How to invest in national saving certificate ?, How national saving certificate are safe and secured investment ?

article author CA Nikesh Sheth

Posted On:  2 years ago


How Stock market behaves during budget

This budget is very very very unique and game Changer !!! It is most running rumors or humors that move around stock market, but they are present for all budgets. I have complied last four years data, which again reinforces 'long term investment is better'

article author CA Nikesh Sheth

Posted On:  2 years ago


Deduction under section 80 DDB of the Income tax act 1961

Incurred huge amount of expenses on the medical treatment of family member what to do now as on the other side the lump sum amount of tax calculated by your Chartered accountant is also freaking you out. For such people government has introduced section 80DDB to claim deduction for the expenses incurred in respect of medical treatment incurred for himself/his dependent.

article author Hitesh Solanki

Posted On:  2 years ago


GN (A) 35 Guidance Note on Accounting for Depreciation in companies in the context of Schedule II to the Companies Act, 2013

Schedule II to the Companies Act, 2013, specifies useful lives for the purpose of computation of depreciation. The said Schedule II was further amended by the Ministry of Corporate Affairs (MCA) through its notifications G.S.R. 237(E) dated March 31, 2014 and G.S.R. 627(E) dated August 29, 2014, respectively. As compared to Schedule XIV to the Companies Act, 1956, Schedule II, instead of specifying rates of depreciation for various assets, specifies that depreciation

article author CS Perila Sheth

Posted On:  2 years ago


Deduction under section 80TTA of the Income tax act 1961

Confused as to taxability of saving bank interest a/c? This article will help you to understand benefit of section 80TTA to reduce your tax liability. Confused about how to reduce tax? And you also don’t have any other source which will help you to reduce tax then do not worry. When all other sources fail there is Savings interest for saving your tax. You can claim this interest as deduction under

article author CA Chirag Chauhan

Posted On:  2 years ago


All about Section 44AD of Income Tax Act

Detail Analysis of Section 44AD of Income Tax Act, 1961. This is one of the Dramatic section of whole Act, which is not tough as well as not simple.

article author Darshan Jain

Posted On:  2 years ago


MCA proposes new CARO, 2016 - Companies Auditor’s Report Order 2016

On 9th February, 2016, Ministry of Corporate Affairs (MCA) has issued draft Companies (Auditor’s Report) Order (CARO), 2016. As per Section 143 of the Companies Act, 2013, every auditor’s report under this section shall contain matters specified under applicable CARO (currently CARO, 2015). In comparison to the existing CARO (2015), CARO (2016) proposes reporting on some new requirements and eliminates some of the existing reporting requirements.

article author CS Perila Sheth

Posted On:  2 years ago


What to do if Notice comes from Intelligence and Criminal Ward of Income Tax

How to Response to Notice came from Intelligence and Criminal Ward of Income Tax

article author Hitesh Solanki

Posted On:  2 years ago


Wage ceiling under Employee provident fund act- FAQS

This article gives an overview on wage celling, status of the employees on the drawing of various limit of salary, amounts to be considered at the time of making contribution for provident fund.

article author One Roof Consultant

Posted On:  2 years ago


International worker under the Employee Provident fund Act- FAQS

This article gives an overview about International worker who is an international worker, which worker is covered as an International worker and who are excluded from International worker category. The article also includes provisions on Social Security Agreements.

article author One Roof Consultant

Posted On:  2 years ago


Exemption under Employee Provident Fund Act- FAQs

This Article gives an overview about the various Exemptions Covered under the Employee Provident Fund Act like Which employee is eligible for exemption, Types of exemptions available for employees, the requirements to grant the exemptions etc

article author One Roof Consultant

Posted On:  2 years ago


Filing Return and Exemption from Filing, updating or Edit of Returns under Employee provident fund act- FAQS

This article gives an overview about the various establishments exempted under the Employee Provident Fund Act, Category of establishments which comes under the obligation to file return under the law.

article author One Roof Consultant

Posted On:  2 years ago


Employer Registration under Employee provident fund act- FAQS

This article provides detailed information on how an employer must get register his/her establishments on the EPFO portal, the effects in case a employer does not gets himself register on the portal, what to do in case employer forgets his user ID and Password.

article author One Roof Consultant