INCOME-TAX

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Salary calculator 2020-21 – Take Home Salary Calculator India

Use ClearTax salary calculator to know your take home salary. Simply enter the CTC and bonus figures and get to know how much salary you can take to your home.

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Interpretation Of Deeming Provision In The Income Tax Act

A deeming provision is a section or clause of a statute, regulation or other legal instrument that states how something is to be treated or regarded.

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Power of Commissioner to Reduce or Waive Income Tax Penalty

The Principal Commissioner or Commissioner of Income Tax has powers to reduce or waive penalty as per powers conferred under Section 273A(1), 273A(4), and 273AA of the Income Tax Act.

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Income Tax on Buyback of Shares

A company can choose to distribute profits to the shareholders through two modes - dividend payout and buyback of shares. Read this article for more information.

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Tax on Blogging Income Under the Income Tax Act

What provisions of the Income Tax Act apply to a blogger? Are any expenses allowable or does a blogger pay tax on Gross Income? Read this article for more information.

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Section 55A of the Income Tax Act

Learn under what circumstances the powers conferred by Section 55A of the Income Tax Act can be used with the help of this article.

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Details of deductions and exemptions for tax saving in Schedule DI of the income tax return for A...

Taxpayers can claim a tax deduction or exemption in schedule DI of the income tax return towards tax-saving investments including deposits, expenditure and capital gains exemptions until 30 June 2020.

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National Savings Recurring Deposit Account​​

The objective of the National Savings Recurring Deposit Scheme is to provide small investors means to invest small amounts regularly to meet future needs.

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​National Savings Time Deposit Account

The Government of India announced the National Savings Time Deposit Scheme under the provisions of Section 15 of the Government Savings Bank Act, 1873.

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Section 115BAC: Features of the new tax regime and its benefits

From FY 2020-21, you can choose to pay income tax under an optional new tax regime. The new tax regime is available for individuals and HUFs with lower tax rates and zero deductions/exemptions.

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Pradhan Mantri Vaya Vandana Yojana – Eligibility, Benefits

Pradhan Mantri Vaya Vandana Yojana (PMVVY) is retirement cum pension scheme announced by the Indian Government in May 2017.

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Value Investing in India

Value investing is a strategy which involves choosing stocks that appear to have their current stock value much lesser than the book or intrinsic value.

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National Savings Monthly Income Account

National Savings Monthly Income Scheme is an excellent investment option for pensioners and those looking for a regular inflow of funds.

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How to make a donation to PM CARES Fund

you can make a donation to the PM CARES Fund for COVID-19 coronavirus pandemic. You can claim deduction for donation under section 80G of income tax Act

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Income-tax and other Liquidity Measures for Individuals: COVID-19

Income-tax and other Liquidity Measures for Individuals: COVID-19

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Covid-19 – Latest News & Updates on GST, IT & MCA

Covid-19 - Latest News & Updates on GST, IT & MCA

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EPF Form 31 – What It Is, Eligibility, Filing Procedure, and Instructions

EPF Form 31, also known as EPF Advance Form, is generally used to file a claim for partial withdrawal or advance from the Employees’ Provident Fund (EPF) account. Read more about the form here.

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EPF Form 5 – What It Is, Eligibility, and How To Apply?

EPF Form 5 is to be submitted by employers to the EPF Commissioner’s office on a monthly basis with the details of the newly joined employees who are eligible for EPF benefits.

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How much can you withdraw from an EPF account due to COVID-19

To provide relief to employees, an advance can be obtained as EPF withdrawal by employees up to three months’ salary or wages plus dearness allowance, or 75% of the balance standing in their accoun...

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Why is Jeevan Pramaan Patra Important for Pensioners?

One of the crucial documents one must provide to get a smooth flow of pension funds every month is to submit Jeevan Pramaan Patra/Life Certificate to the pension disbursing agency.