News & FAQs | By ALOK PATNIA | May 14, 2011
Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department. ...
News & FAQs | By ALOK PATNIA | May 14, 2011
A tax refund is an amount, which denotes the excess of taxes paid over the actual tax liability. The process of getting tax refunds from ...
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 14, 2011
Most of the employees are entitled to certain no. of leaves per month/annum and leave encashment is simply encashing leaves remaining unu...
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 14, 2011
Profit in lieu of salary is a part of salary income and accordingly it is taxable under the head “Income from Salaryâ€. Profit in lieu...
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 13, 2011
Government has provided great relief to most of the salaried class individuals by proposing that the individuals whose annual income is u...
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 13, 2011
Individuals are required to file their income tax return if the income before allowing deductions under chapter VIA and exemption u/s 10A...
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 12, 2011
Allowance is a fixed quantity of money or otherwise given regularly in addition to salary for the purpose of meeting some particular requ...
News & FAQs | By ALOK PATNIA | May 12, 2011
The Direct Tax Code (DTC) will come into effect from FY 2012-13 starting from 1st April, 2012 and you would file your first income tax re...
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 11, 2011
The filing of income tax return is a legal obligation for every person whose total income during the previous year exceeds the maximum am...
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 11, 2011
Every taxpayer can view or verify proper credits of Taxes paid (only with respect to Financial Year 05-06 onwards) from their Annual Tax ...
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 10, 2011
‘Hindu Undivided Family’ (HUF) is a family that consists of all persons lineally descended from a common ancestor, including ...
Direct Taxes (including International Taxation) | By ALOK PATNIA | May 10, 2011
Every employer responsible for paying Salaries is required to deduct tax at source on the amount payable/ paid and also deposit such dedu...