Premiums paid/reimbursed by the employer are tax-free perquisites for the employee
The slab rates proposed would rationalise the present ones and do away with surcharges.
Strictly speaking, since the fee has been paid by the employer, it does not satisfy the condition of ‘paid by the individual’ and hence should not qualify for a deduction in the hands of the employee.
Houses costing less than Rs 45 lakh can get the benefit
Whether the rental exemption on second house, TDS cap raise continue remains to be seen
The process has become almost entirely electronic. You must use the correct forms and report the exact details of income as well as deductions
Lack of clarity leads to a controversy of whether such expenses are to be treated as taxable, considering them to be personal, or not taxable considering them to be official.
PPFAS Asset Management's CIO Rajeev Thakkar told Moneycontrol that the fund house would launch this scheme mostly in the first week of July 2019.
Finance Minister Arun Jaitley might announce some major changes in the tax landscape. Here, we explain a few taxation terms that might crop up and what is likely to change relating to them.
The real estate sector has been plagued by many challenges, including delays in projects owing to funding issues, complicated government diktats, unclear records and land titles and delays in obtaining approvals. The passage of R
Health insurance providers feel tax incentives to salaried class on purchase of health insurance should be raised. Also, exemption of service tax on health insurance premiums and preventive health check-ups can prompt more people to buy health cover.
There is no reason to panic since you have time till March 31 to make the necessary investments for tax saving.
The conditions for the tax free benefit from the proceeds of insurance policies mentions details about the extent of the premium to be paid as compared to the sum assured.
Recently, loan against property (LAP) has emerged as a popular form of long-term loans, especially among the self-employed. According to a recent report from CRISIL, this loan category is expected to grow 22% annually R
Many individuals do change jobs and they have to face the problem of combining salaries from two employers. Here is how to go about it.
Home loan companies and banks have launched schemes that would make buying your dream home a reality.
House rent allowance (HRA) is a part of your salary and can be claimed to save on income tax. Here are some tips for the same.
Health insurance tax deduction should be enhanced to Rs 50000. Also service tax on health insurance should be removed.
Government should take various measures to ensure increased penetration of health insurance in India.
Tax benefits may create awareness when it comes to property insurance, a category most individual insurance buyer neglect.
If the finance minister offers additional incentives to buy a property, there will be more demand for housing. There are many individuals who require some stimulus to buy a property in the form of tax incentives.
You have to account for tax deducted at source, while computing income tax payable and accordingly file your income tax returns
Individuals can donate money for scientific research and rural development and claim deduction from taxable income.
The games could be of any type and there could be a wide range of such games that would be included and as long as these are classified as being gambling or betting it would be covered.
Individuals looking at various tax deductions and other benefits provided to them in the Income Tax Act often miss out a very important component of the benefits.