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

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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

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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

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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.

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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.

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Ancient Indian Kushan Era Coin