Income tax is payable if any individual earns an income in a financial year. The tax rate depends on the aggregate income which the individual has earned under the following heads –Income from SalaryIncome from House PropertyIncome from Capital GainsIncome from Business or ProfessionIncome from Other SourcesAll the five heads of income are added together to arrive at the total income which is subject to income tax. There is a tax slab based on which the income calculated aggregating the five heads is calculated. The tax slabs are different forSEE DETAILS

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

  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 personSEE DETAILS