Deduction 80E – Interest on Education Loan Section 80E: Getting a higher degree can really boost your knowledge and job prospects, but it’s no secret it can be pretty pricey. To help with that, there are some tax rules in place to lighten the load and keep encouraging us to learn more. One of the … Read more
How to File ITR-1 (Sahaj) Step by Step (A.Y.2023-24): To file an income tax return, the income tax department has released different types of income tax forms based on the category of taxpayers. Currently, there are seven ITR forms available to file an income tax return. The Income Tax Return Form 1 (ITR-1), also known … Read more
HRA Calculation – How to Calculate HRA Tax Exemption: There is a very common term called HRA, which stands for House rent allowance. In relation to rented residential accommodation occupied by the employee, the employee receives the House Rent Allowance from the employer. In general, an HRA is actually the amount that an employer pays … Read more
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: 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 80DDB (A.Y. 2022-23): Deduction of Medical Treatment: This year when you file your returns, make sure that you are availing maximum benefits which has been offered by the IT Department of India. In this article, we will be discussing the range of deductions which a taxpayer can get under Section 80DDB. So, let’s get … Read more
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
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
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