At the time of penning this, the COVID-19 crisis is increasing exponentially all over the world. Global leaders and organizations are doing their best to manage this crisis. Even so, the boundaries are getting severely stretched. However, it is not just a macro crisis that needs to be handled at a global level.
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
In continuation of the last write-up on the subject, here are other options which can be applied to reduce taxes on Salary. I – If ...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
The way structuring of salary is done determines the total tax outgo in case of an Individual. Even though there is no hard and fast meth...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Receipts received may be either of capital nature or revenue nature. While calculating the income of person only receipts of revenue natu...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
An allowance is a fixed amount given periodically in addition to the salary for the purpose of meeting some specific requirements connect...
News & FAQs | By ALOK PATNIA | Last updated on Mar 1, 2011
Budget 2011 brings most benefits to the senior citizen class. The basic exemption limit for senior citizens has been enhanced from Rs. 2,...
News & FAQs | By ALOK PATNIA | Last updated on Mar 1, 2011
Finance Minister has announced in the Budget 2011 that deduction of Rs. 20,000 u/s 80CCF in addition to the limit of Rs. 1 lac u/s 80C is...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Fixed Deposit serves as one of the tools of investment planning. It is like a term deposit which allows depositing money for a fixed peri...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Individuals are required to file their return of income/ income tax returns before 31st July for financial year 2009-10, in case their to...
News & FAQs | By ALOK PATNIA | Last updated on Mar 1, 2011
The FM in his budget for 2011 has announced that small salaried individuals having no other income except salary income would be exempt f...