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Income-Tax-for-Senior-Citizens
Income Tax Learning

 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

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Income-Tax-for-Self-Employed
Income Tax Learning

Income Tax for Self EmployedEvery Indian citizen is required to pay an income tax if he earns an income. An income generating entity is called an assessee which, under Section 2 (7) of the Income Tax Act, 1961, is defined as a person or entity by whom any tax or any other sum of money is payable under this Act. Assessee includes the following –Salaried individualSelf-employed individual or a proprietor of a sole-proprietorship businessHindu Undivided FamilyPartnership firmLimited Liability Partnership (LLP)A company which has been registered with the Registrar of CompaniesSEE DETAILS

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

 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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ESI--Employee-State-Insurance-Scheme
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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difference-between-Form-16-and-Form-16A
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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PRAN
Income Tax Help, Income Tax Learning, Income Tax Saving

Retirements don’t come easy and zillion minutes goes by planning for the retirement. It becomes very difficult for people to save for their retirement because of the current needs and demand. Sometimes we worry so much about the future that we forget about our present and compromise on our current needs with the aim of saving some money for retirement. To ease our common worries about the future, the government launched the National Pension Scheme. What is the National Pension Scheme (NPS)? The National Pension Scheme was launched in 2004SEE DETAILS

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ITR-Forms-For-FY-2018-19(AY-2019-20)
Income Tax e-Filing, Income Tax Help, Income Tax Learning, Latest News

With the beginning of the new financial year, time for settlement of accounts and disclosing what one has earned in the previous year arrives. Such disclosure is required to be filed in the form of returns prescribed by Income Tax which are known as Income Tax Return (ITR) Forms. As always CBDT has notified the Income Tax Return forms for FY 2018-19( AY 2019-20). These ITR forms contain fields to furnish the relevant and required information. There are different ITR forms for different categories of taxpayers/ assessee/ user. In thisSEE DETAILS

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EPF--Process-to-transfer-online,-Check-Transfer-Status
Income Tax Learning, Income Tax Saving

As an employee, you are entitled to provident fund, which is also known as Employee Provident Fund. But there are several questions which revolve around this concept like what exactly it means, who contributes to it and most importantly what happens to the fund when you change your employment. If you are looking for answers to the question above, then this is the right place for you. We have briefly covered the basics of EPF and EPFO in this blog. You will also find a detailed guide on how youSEE DETAILS

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E-Filing-Vault
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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What-is-Gross-Total-Income
Income Tax Learning

Tax in itself is a tedious phenomenon and the complexity increases when various terms are also added to the list. We all know that tax is levied upon income. But, income has been further classified and referred to by various names in India such as Exempt Income Taxable IncomeTotal incomeGross Total Income Etc. In this blogpost we will get you a detailed understanding upon Gross Total Income or GTI. What is the relevance of Gross Total Income? Why you should know about it? How it is calculated? The difference betweenSEE DETAILS

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