Category: INCOME TAX
Budget 2015: Income tax expectations for the salaried from PM Narendra Modi’s government
Budget 2015: Income tax expectations for the salaried from PM Narendra Modi's government
The Narendra Modi government is all set to present its s [...]
Chargeability of Interest on self-assessment tax paid before the due date of filing of return of income
Chargeability of Interest on self-assessment tax paid before the due date of filing of return of income-
Circular 2/2015
F. No. 385/ 03 /2015-IT(B) [...]
Standard Operating Procedure for Prosecution in Cases of TDS/TCS Default
STANDARD OPERATING PROCEDURE FOR PROSECUTION IN CASES OF TDS/TCS DEFAULT
Introduction:
1.1 As per the Income Tax Act, all cases where TDS/TCS is de [...]
What not to do for tax exemptions, deductions to stay
What not to do for tax exemptions, deductions to stay: Financial Express
The Income tax Act, 1961 (the Act), provides for certain deductions [...]
Incomes not included under the Head Salaries (Exemptions) – Income Tax on Salaries Circular 17/2014
5.3 INCOMES NOT INCLUDED UNDER THE HEAD "SALARIES" (EXEMPTIONS)
Any income falling within any of the following clauses shall not be included in compu [...]
Illustrations – For Assessment Year 2015-16: Income Tax on Salaries Circular No. 17/2014
INCOME TAX ON SALARIES: Circular No. 17/2014
SOME ILLUSTRATIONS
Example 1
For Assessment Year 2015-16
(A) Calculation of Income tax in the ca [...]
Deduction u/s 16, Chapter VI-A : Income Tax on Salaries Circular No. 17/2014
Deduction u/s 16, Chapter VI-A(80-C, 80CCC, 80CCD, 80CCG, 80D, 80DD, 80U, 80DDB, 80E, 80EE, 80GG, 80GGA, 80TTA) & 87A: Income Tax on Salaries Cir [...]
Definition of Salary, Perquisite and Profit in lieu of Salary (Section 17): Income Tax on Salaries Circular No. 17/2014
5.2 DEFINITION OF “SALARY”, “PERQUISITE” AND “PROFIT IN LIEU OF SALARY” (SECTION 17):
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Income Tax on Salaries - Ci [...]
Computation of Income Tax – Income Chargeable Under the Head Salaries: Income Tax on Salaries Circular 17/2014
5. COMPUTATION OF INCOME UNDER THE HEAD "SALARIES"
5.1 INCOME CHARGEABLE UNDER THE HEAD "SALARIES":
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Income T [...]
Persons responsible for Deducting Tax and their Duties: Income Tax on Salaries Circular 17/2014
4. PERSONS RESPONSIBLE FOR DEDUCTING TAX AND THEIR DUTIES:
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Income Tax on Salaries - Circular No. 17/2014
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