Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 28, 2011
The Income Tax Provision casts a responsibility on all individuals to file their return of income/ tax returns, having taxable income exc...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 27, 2011
If you are a salaried employee and wondering why are you still paying unnecessary taxes even after investing in almost all tax saving too...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 27, 2011
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 ...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 27, 2011
Every PAN (Permanent Account Number) holder and Taxpayer can view their Annual Tax Statement (known as Form 26AS or Tax Credit Statement)...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 27, 2011
Section 80U of the Income Tax Act, 1961 provides benefit of deduction in respect of permanent physical disability to taxpayer. Conditions...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 26, 2011
Section 80RRB of the Income tax Act, 1961 provides deduction in respect of any income by way of royalty. CONDITIONS – The following...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 26, 2011
Section 80QQB of the Income Tax Act, 1961 provides deduction in respect of royalty income of authors. Conditions to be satisfied for avai...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 26, 2011
Section 80G provides a tax deduction for donations to certain funds and charitable institutions. Deduction under section 80G is available...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 26, 2011
Section 80C provides deduction in respect of specified qualifying amount paid or deposited by the assessee in the previous year. Main pro...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 26, 2011
Under section 36 (1) (ib) a deduction can be claimed by a taxpayer if the following conditions are satisfied: • The taxpayer pays premi...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 26, 2011
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...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 26, 2011
Deduction under Sec. 80GG is available for persons who pay rent for their accommodation. In computing total income, an assessee is allowe...