Category Archives: Income Tax

Deadline for employers to provide Form 16 is May 31

Deadline for employers to provide Form 16 is May 31
Now time has come to an employer to inform you about the taxes deducted in the previous year i.e. for the financial year 2016­17. Each

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How to Open NPS Account Offline

How to Open NPS Account Offline
I have realized that though a lot of people have heard about the NPS but only very few people are aware about how it functions, including how to open

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Home loan tax reliefs often missed by taxpayers

Home loan tax reliefs often missed by taxpayers
The Union budget of 2017 brought mixed bundle of joy for the taxpayers. While the section 80EE was re­-introduced, holding period was lowered which brought cheers for

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Calculation of Income from house property for income tax purpose

How to calculate ‘income from house property’ for income tax purposes

If you have a house/flat that is either rented out or kept vacant you need to know about income from house property for

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How TDS on salary income works

How TDS on salary income works
Typically, in the month of April, being the start of the new financial year 2017-­18, salaried employees are asked by their employers to send ‘investment declaration statement’. The most

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Presumptive income scheme for professionals

Presumptive income scheme for professionals
The Finance Act 2016 has introduced a new presumptive income scheme for professionals by inserting a new section 44ADA into the Income Tax Act, 1961. The new section has come

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