Leave Encashment Taxable?
Maximum exemption of Rs. 3, 00,000 have been provided u/s 10(10AA) of the I T Act ....
What is the meaning of Salary & Average Salary?
Salary means Basic, D.A & fixed % of turnover as commission. Average salary means....
What If you receive Leave Encashment from more than one employer?
The proviso to section 10(10AA) provides as under Provided further that where any such payment or payments....
Is leave encashment received by legal heir taxable?
No , as per circular letter no F.35/1/65-IT(B) dated November 5, 1965 of....
Which Losses Can Be Adjusted With Salary Income?
There are five heads of income -salary, house property, business, capital gains and....
If you have loss under house property income and in other sources, should you tell to your employer so that lower tax on salary is deducted?
Yes, there is express provision u/s 192(2B) of the I T Act which states that....
What Should You Do In Case Of Receipt Of Salary From Two Employers?
26A. (1) The assessee may furnish to the person responsible for making the....
What Is Taxation Rule of Contribution to PF?
The basic rules of income tax regarding provident fund are as....
What are the Income Tax Slabs for Male, Female & Senior Citizen for the financial year 2009-10 & 2010-11?
What are the tax benefits still available to an individual?
Pension plans and deferred annuity schemes qualify for a deduction of up....
What type of bills covered in LTA?
Only the travel costs, not the eating and partying or hotel bills....
How often can you LTA claim it?
Twice in a block of four calendar years....
No time for a holiday, what to do with LTA?
Then you can carry it forward....
Whose covered in LTA?
Your family, this term is quite wide; it includes you, parents,....
What if I don't take LTA?
If LTA is not utilized, it gets added to the entire salary. And then....