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.… Read more

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 paying that.… Read more

Section 80TTA of income tax act

Section 80TTA of income tax act Section 80TTA deals with the tax rebate available on interest earned in your savings bank account upto a limit of Rs 10,000 in a financial year. This new section was introduced in the finance act 2012 and is applicable from the financial year 2013-14.… Read more

Documents Required for PAN Card

Documents Required for PAN Card What is PAN Card? PAN card is the permanent account number issued by an assessing officer of the income tax department. It is a photo identity card that carries ten digit alphanumeric numbers for every card holder.… Read more

Income tax e-filing acknowledgement

Income tax e-filing acknowledgement E-filing is the process of filing your Income Tax return electronically through internet. E-filing of income tax return is mandatory for all companies which require statutory audit u/s 44AB. No other Income tax returns filing will be accepted for such companies.… Read more