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Rental income is taxable under the head “income from house property”. The net income under this head is clubbed with your other income and is taxable at the rates applicable to an individual.
No, a PPF account cannot be extended after maturity. Read the detailed answer inside the story.
An employee is entitled to leave travel concession from his employer for himself and his family for travelling to any place within India.
Equity-linked savings schemes have become a popular way of saving income tax under Section 80C.We identify the best tax planning funds.
You are eligible for deduction under Section 80U of the Income Tax Act. You will have to enclose a valid medical certificate with your return of income.
A growing number of taxpayers are finding that certified tax return preparers can help make filing tax returns less of an error-filled chore.
Medical reimbursement of over Rs 15,000 is taxable in the hands of an employee.
Long-term gains are taxable at a flat rate of 10%, while short-term gains are added to the income and taxed as per applicable rates.
In case your income tax refund does not come from the income tax office you can personally visit your assessing officer with a copy of the acknowledgement of the return.
If you have been a part of a recognised PF for five years or more, the amount withdrawn will be exempt from tax.
The new income tax return forms are more user-friendly than the earlier Saral. We explain the form and key new sections.
Yes, Esops will attract fringe benefit tax at the time you exercise your option of taking the stocks offered by your company.
Budget 2007 brought employee stock options in the fringe benefit tax net. Find out why this should also be of concern to employees.
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