Income tax slab for FY 2016-17 & FY 2015-16

(adsbygoogle = window.adsbygoogle || []).push({}); Income tax slab for fy 2016-17

Updated on 29th Feb 2016

Finance minister Arun Jaitley presented the union of India budget today 29th Feb 2016 for the financial year 2016-17 and assessment year 2017-18.

The following are the highlights with respect to income tax slabs for financial year

Continue reading Income tax slab for fy 2016-17 & 2015-16

leave travel allowance income tax rules

leave travel allowance income tax rules

Most companies have LTA as part of the tax free compensation offered to employees to save on income tax. Leave travel allowance is tax free and there is no need to pay income tax on the amount availed under LTA subject to conditions.

The following conditions apply to

Continue reading leave travel allowance income tax rules

Meaning of form 26AS

Meaning of form 26AS

We all are paying income tax and filing income tax returns every year. We pay income tax in may forms either directly and indirectly. Indirect payment of income tax is TDS (tax deducted at source). Our employer deducts our income tax as TDS, our banks deducts TDS on interest income before

Continue reading Meaning of form 26AS

What is Assessment Year and Financial Year

Most of us face a barrage of financial terms throughout the year during the course of our work, and more so while it comes to filing of Income Tax returns. During this time we most prominently encounter terms like Assessment Year and Financial Year. We are providing simple understanding for Assessment Year and Financial Year for the benefit of Employees as well as people from all section of life, who have the obligation to file Income Tax returns.

Continue reading What is Assessment Year and Financial Year

e filing of Income Tax Return

In this electronic age when IT is successfully performing in so many fields and providing services from online banking to online news, online mutual fund investments to online buying and selling, the Income Tax Department of India launched the Electronic Filing (External website that opens in a new window) of income tax returns.

Continue reading e filing of Income Tax Return

Ancient Indian Kushan Era Coin