Save Tax in F.Y.2022-23 (A.Y.2023-24) by Investing Efficiently

With the Budget 2022 implemented in the country, who doesn’t want to reduce their payment of tax? “No one” is the straightforward answer to this question. In the present economy where inflation rules the country, everyone wants to have more money in their pockets and safe custody so that they can use it in future. … Read more

Deductions From Salary for A.Y. 2022-23 (Updated)

Deductions From Salary for A.Y. 2022-23: The salary people always request that we tell them about all the deductions that we are eligible to claim in A.Y. 2022-23 and 2023-24. Therefore, we provide a list of all deductions from the salary that you can claim while calculating taxable salary income or net total income after … Read more

Deduction 80E: Interest on Education Loan (A.Y.2022-23)

Income Tax Deduction 80E (Interest on Education Loan) A.Y. 2022-23: The interest on an education loan is available for an income tax deduction. You can get a deduction under section 80E of the Income Tax act in your taxes for higher education of self, spouse or children or as legal guardian.  In this article, we will discuss deduction … Read more

ITR-1 (Sahaj) Form AY 2022-23: How to file ITR-1 Online?

ITR-1 (Sahaj) AY 2022-23: ITR-1 is a simple tax return form. People with incomes less than Rs.50 lakhs can use ITR-1. This income should be from salary, income from other sources (Interest etc.) and only one house property. In this article, we will discuss the detail about ITR-1 like how to fill ITR-1, excel utility, … Read more

TDS on Salary: Easy Way to Calculate TDS on Salary

The most confusing concept in whole TDS is “TDS on Salary” as readers always asked questions about the topic. In this article, we will cover all the topics related TDS on salary like how to deduct TDS on salary, how to calculate tds on salary, deposit TDS, submission of statements, time of deduction, annual salary … Read more

Tax Benefit to Employee on Medical Reimbursement

Today employers provide many health benefits to their employees. Medical Reimbursement is one of that. Medical Reimbursement is an arrangement under which employers reimburse the portion of the health expenses incurred by the employee on obtaining medical treatment of self and any family member. Don’t be confuse: In this article you will read about health … Read more

Tax Benefits When Car is Provided by Employer to Employee

We can see this generally that company is providing Cars to its employees for doing the official duties. These cars are generally provided by the employer of your company and are used by employees. Cars are used for both official and personal purposes. Employees get confused about the tax-ability of owning car and leasing a … Read more

5 Tax Planning Tips for Salaried Employees for A.Y. 2019-20

The new budget announced this year by the new government brought a host of changes. However, the scope for salaried class were, as usual, limited. Only a few positive chances were introduced to enhance the quality of life of the salaried or working class. In these cases, tax planning can be extremely beneficial in saving … Read more

HRA Calculation – Easiest Way to Calculate HRA

House Rent Allowance is normally called HRA by the assesee. The HRA means House Rent Allowance received by you from employer in respect of residential accommodation occupied by you. So in simple words the employer will pay you the rent which you are paying for your rented accommodation. Most of the assesees confuse over the … Read more

A Very Simple Guide for Tax on EPF Withdrawals

The biggest burden on every employee is tax on EPF. People make very wrong statement about EPF, that EPF withdrawals are not taxable but it is not purely true because these withdrawals can be taxable under some conditions that are given below. If before the completion of 5 years the employee withdraws the EPF balance … Read more