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Dearness Allowance (DA) – Meaning, Types, Calculation etc

Dearness Allowance (DA) – Meaning, Types, Calculation etc

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May 21, 2019

- Income Tax Learning

 Money has become as important as natural resources to survive in this world. Prices of almost everything are touching the sky and it is making survival of a common man extremely difficult. Food is the most basic commodity for survival and the prices of the same fluctuate the most. It directly affects the economy and lifestyle of the common man. Since inflation occurs due to market forces, the government tries to stabilise the prices by introducing several tools. Amongst the tools introduced by the government, Dearness allowance is one ofSEE DETAILS

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Public Provident Fund (PPF) India, Interest, Benefit, Withdrawals, Deposit etc

Public Provident Fund (PPF) India, Interest, Benefit, Withdrawals, Deposit etc

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May 17, 2019

- Income Tax Saving

 Though there is a hype of certain types of investments nowadays, some schemes launched by the government are still considered the best safety net for long-term investments. One of which is PPF (Public Provident Fund). Not only this investment plan makes you financially secure but also brings you lots of benefits with a decent interest rate. Want to know more about PPF? Read through!Public Provident Fund (PPF)Public Provident Fund is simply defined as Exempt, Exempt and Exempt (EEE) as it offers exceptional tax benefits to its subscribers under Section 80C.SEE DETAILS

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Tax-Benefits-On-Insurance-Policies
Income Tax Saving

Tax Benefits on Insurance Policies – Section 80C etc

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May 9, 2019

- Income Tax Saving

 Life insurance is a very important component of your financial portfolio. It gives unparalleled protection in case of premature death. The sum assured promised under the plan takes care of financial responsibility in case of premature demise of the insured. Moreover, different types of life insurance plans fulfil different financial needs. If fulfilment of financial needs and insurance protection is not enough, life insurance also provides you tax benefits. In fact, when it comes to tax benefits, life insurance plans provide benefit both on the investment and also on theSEE DETAILS

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ESI--Employee-State-Insurance-Scheme
Income Tax Learning

Employees’ State Insurance (ESI) Scheme: Registration, Procedure, Benefits

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April 20, 2019

- Income Tax Learning

What is ESI? What is the meaning of ESIC? The Employees State Insurance Scheme is social insurance embodied to protect employees from the incidences like maternity, sickness, disablement, and death due to employment injury which results in loss of wages and to provide medical care to insured and their family. The Act also ensures reasonably good medical care to workers and their dependents. Employees’ State Insurance Corporation (ESIC), incorporated under the ESI Act. It is an autonomous corporation regulated under the supervision of the Ministry of Labour and Employment, GovernmentSEE DETAILS

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NRE-NRO-Accounts
Income Tax Saving

NRE-NRO Accounts: Basic Meaning, Eligibility, Taxation

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April 19, 2019

- Income Tax Saving

Non-resident Indians (NRI) comprises of non-residents under FEMA and non-Indian citizens of Indian Origin (PIO). Thus NRIs can have three types of bank accounts: Non-resident Ordinary (NRO) Non-resident External (NRE) Foreign Currency Non-Resident (FCNR) Opening an NRO account An NRI can open an NRO (Non-Resident Ordinary) bank account at any point of time or can also change his existing bank account into an NRO account. A citizen of any other country can open an NRO account during his stay in India. But citizens of Pakistan and Bangladesh require prior permissionSEE DETAILS

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difference-between-Form-16-and-Form-16A
Income Tax Learning

The Difference Between Form 16 And 16A

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April 11, 2019

- Income Tax Learning

Every assessee having taxable income, is under obligation of disclosing his income sources to the Income Tax Authority of India. This is done by filing an income tax return. One of the biggest factors which has to be considered in this regard is TDS or tax deducted at source. According to the Income Tax Act, any person or company making payment should asper the provisions deduct TDS and deposit the same with the central government. While the person or organisation making the payment is known as deductor, the person orSEE DETAILS

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Tax-changes-from-April-2019
Income Tax Updates

Tax Changes from April 2019

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April 2, 2019

- Income Tax Updates

Financial Year 2019-20 has begun!! April 2019 welcomes the beginning of the new financial year. What could be more interesting than taking a note of important tax provisions this very day!! Why to wait for the financial year to end and make tax planning a rush?? Let’s become a pro and know the 5 major tax changes pronounced in Interim Budget 2019. Mr Piyush Goyal presented the interim budget 2019 and some distinguished tax amendments were made. In this blogpost we have briefed five must know tax changes affecting yourSEE DETAILS

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E-Filing-Vault
Income Tax Learning

e-Filing Vault- Way to Secure Your Income Tax e-Filing Account

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March 26, 2019

- Income Tax Learning

What is the e-Filing vault? Is it related to e-filing your Income tax returns? Is the e-Filing system a secure system? These questions might bother you if you come across terms like e-Filing vault and e-Proceedings. Fret not, this blog will explain everything about e-Filing fault and you can check out our other blog for information regarding e-Proceedings. What is the e-Filing Vault? e-Filing vault is a two-level authentication process which provides extra security to your e-Filing account. It protects your account from misuse and fraudulent activities. e-Filing Vault limitsSEE DETAILS

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Who-is-regarded-as-Assessee
Income Tax for Starters (Basics)

Who Is An Assessee?

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March 23, 2019

- Income Tax for Starters (Basics)

In Simple words, we can say that Assessee is a person who is liable to pay any tax or any sum of amount payable or have any obligation to pay tax as per the Section 2(7) of the Income Tax Act,1961. Also assessee can be termed as each and every person for whom Any proceedings have been taken under the act for the assessment of his income Fringe benefits, Income of any other person for whom he is considered accessible Any loss sustained by him or by such other personSEE DETAILS

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What-are-Revenue-and-Capital-receipts
Income Tax for Starters (Basics)

What Are Revenue Receipts And Capital Receipts?

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March 23, 2019

- Income Tax for Starters (Basics)

Receipts are the earning of the company and through it revenue is generated. Not all the receipts contribute towards the profit and loss in business. Receipts can be categorized as Revenue receipts and Capital receipts. To some extent, we can say that revenue receipts affect the profit and loss of the business and capital receipts don’t. For a better understanding of the revenue receipts and capital receipts let’s discuss these terms in detail. What do you understand by Revenue Receipts? Revenue receipts are money earned by a business through itsSEE DETAILS

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