FAQs on Salary Income - Income Tax What is considered as salary income? Section 17 of the Income-tax Act defines the term ‘salary’. However, not going into the technical definition, generally whatever is received by an employee from an employer in cash, kind or as a facility [perquisite] is considered as salary. What are allowances? Allowances are fixed … [Read more...] about FAQs on Salary Income – Income Tax
Income Tax
PCDA Circular 210 : Exemption from Income Tax- Service Element and Disability Element of Disability Pension granted to disabled personnel of Armed Forces
Exemption from Income Tax- Service Element and Disability Element of Disability Pension granted to disabled personnel of Armed Forces who have been invalided out on account of Disability attributable to or aggravated by Military/AF.Navy service. Principal Controller of Defence Accounts (Pensions) Allahabad CIRCULAR No.210 No.AT/Tech/228/Vol-IX Date - 20.02.2020 To 1. The … [Read more...] about PCDA Circular 210 : Exemption from Income Tax- Service Element and Disability Element of Disability Pension granted to disabled personnel of Armed Forces
New Personal Income Tax Regime heralds significant relief, especially for Middle Class Taxpayers
New Personal Income Tax Regime heralds significant relief, especially for Middle Class Taxpayers New tax regime to be optional for the taxpayers New rates entail estimated revenue forgone of Rs 40,000 Crore per year In order to provide significant relief to the individual taxpayers and to simplify the Income-Tax law, the Union Budget proposes to bring a new and simplified … [Read more...] about New Personal Income Tax Regime heralds significant relief, especially for Middle Class Taxpayers
Budget 2020 : New Income Tax Slabs
Budget 2020 : Income Tax New Slabs Key highlights of Union Budget 2020-21 Govt extends additional Rs 1.5 lakh tax benefit on interest paid on affordable housing loans to March 2021 New Income Tax Slabs No tax for income below Rs 5 lakh 10% for income between Rs 5 - 7.5 lakhs (down from 20%) 15% for income between Rs 7.5 - 10 lakhs (down from 20%) 20% … [Read more...] about Budget 2020 : New Income Tax Slabs
Tax Invasion is a Social Injustice to fellow citizens: Chief Justice of India
Tax Invasion is a Social Injustice to fellow citizens: Chief Justice of India Tax Judiciary plays an important role in resource mobilization of the country; Artificial Intelligence is a new hope for Public Institutions; Inaugurates 79th Foundation Day Celebrations and All India Members' Conference of the Income Tax Appellate Tribunal The Chief Justice of India, Mr. … [Read more...] about Tax Invasion is a Social Injustice to fellow citizens: Chief Justice of India