Category: Personal Income Tax

Income Tax on Retrenchment Compensation Amount What is Retrenchment? There are times when an organization or a company is forced to close down its operations due to various reasons such as – Lack of sufficient funds to continue the operation in its existing shape and form, Death of the proprietor, inability to survive in the competitive environment, Bad Management, Major failure of products, Professional Incompatibility between the founding members of the Organization, Major changes in market trends making a company obsolete, Inability to pay its major debtors and many more such reasons.… Read more

Income Tax for Indian Residents Working Abroad Indians from time immemorial have been a very enterprising and adventures tribe. They have always tried to find opportunities to seek employment suiting to their skill sets in far off lands. It is well known to us that one of our major foreign exchange earnings are the income remittances from abroad.… Read more

Income Tax for Expatriates Working In India With Increasing globalization, human capital or in simple terms employable people, now get opportunities to work across countries and continents. India is no exception to this emerging trend. India is on a fast track of development and is a highly promising destination for various kinds of skilled workers and executives to work in India.… Read more

Income Tax on VRS – Voluntary Retirement Scheme Income economy is now in a dynamic stage. It is under constant evolution, betterment, upgradation and getting rid of old and moribund ways of conducting business. As a byproduct (Can also be called as consequence) the old days when a person started and remained an employee until retirement in the same organization has become a thing of the past.… Read more

Long term capital gains tax in India Capital gains, as the word suggests, is some kind of monetary gain and most probably from some Capital goods. That is what it would mean, in very simple and layman terms. However we will clear the cloud from such a vague meaning, and provide you with a complete understanding of what Long Term Capital Gains Tax (LTCG is the short form, as well as the Indian Income Tax Department’s terminology) means, as per the Income Tax Department of India.… Read more