Return of income/ Tax Returns for FY 2010-11 – Changes and things to do

The Income Tax Provision casts a responsibility on all individuals to file their return of income/ tax returns, having taxable income exc...

Plan your Salary Structure more efficiently- Save more taxes- Part II

Corporate Law & Intellectual Property Rights | By ALOK PATNIA | Apr 27, 2011

Now, coming back to more ideas for better structuring of your salary plan, here are few more tips: • An employee should take the benefi...

Plan your Salary Structure more efficiently- Save more taxes- Part I

If you are a salaried employee and wondering why are you still paying unnecessary taxes even after investing in almost all tax saving too...

Computation of relief when salary or family pension has been received in arrears or in advance

The relief on salary received in arrears or in advance is computed in the manner laid down as under: 1- Calculate the tax payable on the ...

View Tax Credit Online – All Taxpayers

Every PAN (Permanent Account Number) holder and Taxpayer can view their Annual Tax Statement (known as Form 26AS or Tax Credit Statement)...

Tax Deduction in case of person differently abled

Section 80U of the Income Tax Act, 1961 provides benefit of deduction in respect of permanent physical disability to taxpayer. Conditions...

Income Tax Deduction in respect of royalty on patents

Section 80RRB of the Income tax Act, 1961 provides deduction in respect of any income by way of royalty. CONDITIONS – The following...

Income Tax Deduction in respect of Royalty income of authors

Section 80QQB of the Income Tax Act, 1961 provides deduction in respect of royalty income of authors. Conditions to be satisfied for avai...

Donate under section 80G- Save Taxes and help Society

Section 80G provides a tax deduction for donations to certain funds and charitable institutions. Deduction under section 80G is available...

Invest in tax saving tools of 80C – LIC, PPF, PF, Housing loan Principal and others

Section 80C provides deduction in respect of specified qualifying amount paid or deposited by the assessee in the previous year. Main pro...

Insurance premium on health of employees – 36 (1) (ib)

Under section 36 (1) (ib) a deduction can be claimed by a taxpayer if the following conditions are satisfied: • The taxpayer pays premi...

Tax benefits in respect of contribution to Pension Fund of LIC or other insurer – 80CCC

Section 80CCC provides a deduction to an individual for any amount paid or deposited by him in any annuity plan of the Life Insurance Cor...

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