minor-pan-card

Benefit of Minor PAN Card, Procedure to Apply & Income Tax

Most of the Indians are under the impression that a PAN Card can only be allotted once a person turns 18 years of age. However, this is a myth as… Read More

tax-on-sale-of-property

Tax on Sale of Property in India:- Guide to All Taxes

At the time of any real estate transaction, there are several taxes on sale of property. Some of these taxes on sale of property are to be borne by the… Read More

medical-reimbursement

No Income Tax on Medical Reimbursement up to Rs. 15,000

Some employers provide medical reimbursement facility to their employees for the medical expenses incurred by the employees. This article explained the levy of Income Tax on Medical Reimbursement provided by… Read More

tax-collected-at-source

ITR Java Utility for Income Tax efiling in 2016: Download Now

The Income Tax Department releases the updated ITR Utility every year for online income tax efiling which can be downloaded free of cost. Till now, the ITR Utility Sofware was… Read More

Rajiv Gandhi Equity Saving Scheme

Section 80CCG: Rajiv Gandhi Equity Saving Scheme (RGESS)

To promote the Retail Investor to invest in Shares and Mutual Funds, the Govt has introduced the Rajiv Gandhi Equity Saving Scheme (RGESS) which allows a deduction under Section 80CCG… Read More

Loss from House Property

Loss from House Property: Income Tax Treatment

Loss from House Property is a fairly popular scenario and commonly arises while filing the Income Tax Return. In this article, we would mainly be focussing on the Reason for Loss… Read More

section-80gga-donation

Section 80GGA: Deduction for Donation for Research/ Development

Deduction under Section 80GGA is an Income Tax Deduction for Donations made for Scientific Research or Rural Development. The whole amount given as donation to the institutions specified under Section… Read More

head-of-income

5 Heads of Income for Computation of Income Tax

As per Section 14 of the Income Tax Act, for the purpose of charging of tax and computation of total income, all incomes are classified under the following 5 Heads… Read More

income from house property deduction

Income from House Property: Deductions allowed

The rent received from any property (whether commercial or residential) is taxable as Income from House Property and deductions are also allowed from such income. The manner of computation of… Read More

Exemption-in-CA-Exams

Procedure for availing Exemption in CA IPCC, CA Final Exams

There have been a whole lot of rumours with respect to Exemption in CA IPCC & CA Final Exams, its applicability, its details etc. To clear all such rumours, Chartered Club… Read More

Section-10-Allowances

Allowances exempt under Section 10 for Salaried Employees

There are various allowances exempt under Section 10 for Salaried Employees like House Rent Allowance, Leave Travel Allowance, Travelling Allowance, Uniform Allowance etc. We have already discussed the following allowances… Read More

salaried-employees-income-tax-exemption

8 useful Income Tax Exemptions for Salaried Employees

The Income Tax Act allows various Income Tax Exemptions for Salaried Employees which are very effective in saving taxes. A salaried employee would be required to intimate his employer that… Read More

Section 139(9)-Defective-Return

Defective Return under Section 139(9)

As per Section 139(9), an Income Tax Return is treated as a Defective Return if any of the following 8 documents is not attached with the Income Tax Return. If… Read More

chartered-accountant-salary

All about Accounting Technician Course (ATC) of ICAI

A few years back ICAI introduced the Accounting Technician Course (ATC) for candidates interested in becoming normal accountants but not a Chartered Accountant. A Candidate may either specifically register with… Read More

chartered-accountant-salary

How to pursue Chartered Accountancy Course (CA Course)

The CA Degree in India is awarded by the Institute of Chartered Accountants of India (ICAI). The Head Office of ICAI is based in New Delhi and it has its… Read More

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