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The determination of Residential Status of a person is very important for the purpose of levy of income tax, as income tax is levied based on the residential status of...

Belated Return can be filed at any time before the end of the relevant assessment year or before the completion of assessment whichever is earlier. In simple words, in case you’ve...

Any income received by an employee is chargeable under head “Income from Salaries” and tax on salary is levied in the manner as shown below. Income would be taxable under...

While an employee is in service, he is allowed various types of leaves like Medical Leave, Gazetted Holidays, Casual Leaves etc. There are some types of leaves which can be...

Many employers give Leave Travel Allowance (LTA) to their employees which can be claimed if an employee goes on a vacation. This Leave Travel Allowance (LTA) can be claimed when...

This Article provides details on the following What is a PAN Card No. Documents to be enclosed How to apply for a new PAN Card No. online?  Check PAN Card...

To promote the concept of charity towards the poor and the needy, the Indian government has been regularly encouraging people to donate and this donation can also be claimed as...

National Savings Certificate (NSC), Public Provident Fund (PPF) and Kisan Vikas Patra(KVP) are the most popular fixed income earning instruments which can be opened with a Post Office and also help...

As per the Income Tax Act, a taxpayer is allowed to claim deduction under Chapter VI-A for the Repayment of Education Loan (Section 80E) and for the Repayment of Home...