HRA increases up to 157 per cent for Central Govt Employees

Now with the proposals as per the 7th Pay Commission being cleared, the government is gearing up to implement the same. At least 48 lakh...

Interest on Small Saving Schemes cut by 10 points, no a hot option anymore

According to a notification released by finance ministry’s department of economic affairs, interest rates on savings accounts remains unchanged at 4%, while that on...

Why investment in ELSS is a good option

Not only you can claim the exemption u/s 80 C but also the gains will be exempt from tax. ELSS stands for Equity Linked Savings...

Important Amendments in Income Tax not covered in FM Budget speech

Important Amendment in Income Tax, which FM did not cover in Budget Speech: (1) Deemed sale value for sale of unquoted shares introduced. To be...

ATM based validation facility activated in Income tax e-filing

The Income Tax department has launched an ATM-based validation system for filing e-ITRs by taxpayers as part of its measure to enhance the paperless...

Change in heads of income not attracts penalty

If a taxpayer does not disclose part or whole of his income, or provides inaccurate details of his income in his returns, he can be penalised. However a mere change in head of income does not attract any penalty.

How to file the Income Tax return of a deceased person

In case of a deceased person, legal heir of the deceased person has to file income tax return for the financial year. Step by step process to file return

How to calculate TDS on Salary- step by step tutorial

How to Calculate TDS and What Rate TDS needs to be deducted, is a popular query. You can calculate TDS on your income by following the below steps

LTC norms eased: Full reimbursement for children aged 5-12 years

Ministry of Railways had earlier decided that in case of children above 5 years and under 12 years of age, for whom full berth or seat is sought at the time of reservation, full fare shall be charged

Government increases EPF interest rate to 8.8 percent

The government was forced to take a U-turn on the Employee Provident Fund (EPF) issue yet again on Friday when it increased the rate...
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