Category: Income Tax

Income Tax on Startups in India & Tax Incentives to Start-ups

Several incentives have been announced by the Govt for startups and these benefits are being enhanced every year. All these incentives and all other relevant points regarding Income on Startups in India have been mentioned in this article. The following...

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Locate your Income Tax Ward No./ Circle/ Range/ AO Code online

The Jurisdiction of the Assessing Officer i.e. his Income Tax Ward/ Income Tax Circle/ Income Tax Range No/AO Code is required to be stated while filing the Income Tax Return. Furnishing these details in the Income Tax Return is optional...

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Income Tax on Contract based Employee/Consultant

Many companies have now started hiring employees on contract basis. Such employees although work in the company premises and work as a normal employee but their legal status is not the same as an employee and they are not entitled...

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5 Tips to Choose the Best Health Insurance Policy in India

Times have been changing fast in every sector of life and economy, and healthcare is not an exception. The trends that we have seen somewhat sound like the following: There is a constant growth in the number of consumers aware...

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TDS on Rent paid by Salaried, Businesses & Professionals – Updated

Budget 2017 and Budget 2019 have brought in certain amendments to the applicability of TDS on Rent and the rates at which TDS on Rent is to be deducted. Prior to this amendment, TDS was required to be deducted by...

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What are the tax deductions available on Critical Ailments expenses?

A tax deduction is an overall benefit that comes complimentary with health insurance plans and medical expenses. There is a separate category that deals with specific critical ailments that involve high expenses and more medical assistance. Critical ailment related expenses...

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Cost Inflation Index for 2016 and last 30 years: Updated

Cost Inflation Index (CII) is an Index which finds its utility in the income tax act at the time of computation of Long Term Capital Gains to be disclosed in the Income Tax Return. The Cost Inflation Index is issued...

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post-Surcharge on Income Tax – Latest Rates (with Examples)
Surcharge on Income Tax – Latest Rates (with Examples)

Surcharge is levied on Income Tax and is levied if Income is more than Rs. 50 Lakhs in case of Individuals and Rs. 1 Crores in case of Companies. Different rates of surcharge are applicable for different categories of taxpayers...

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Income Tax Slab Rates for 2018-19 & 2019-20 in India – Updated

Budget 2019 Update: There is no change in the Income Tax Slabs for the Financial Year 2019-20 and the Income Tax Slabs which were applicable for Financial Year 2018-19 would continue to be applicable. The only difference is that the...

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Income Tax Returns revised after Demonetisation may come under Scrutiny

On 8th Nov. 2016, the Indian Govt demonetised the Rs. 500 and Rs. 1000 notes in order to curb the flow of black money in the system. The Govt has released the new currency notes and all old notes have...

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