Tag Archives: Tax saving for Salaried

Fake rent receipt won’t help you lower tax burden anymore

Fake rent receipt won’t help you lower tax burden anymore For as long as anyone can remember, producing fake property rent receipt, often from parents and relatives, has been an easy way to lower tax burden. Such cavalier disregard for tax rule was overlooked by most employers as well as taxman, who possibly felt it […]

Considerable Points before making fresh investment under Section 80C

Considerable Points before making fresh investment under Section 80C The fag end of the financial year is when we scurry around and grapple with bewildering alphanumeric combinations like Section 80C and 80DD. If your tax­ saving efforts are last minute the chances of locking funds in an unsuitable investment are quite high.

All about Gratuity Valuation you need to know !

All about Gratuity Valuation you need to know ! Gratuity is one of the retirement benefit plan. It is received by an employee from his/her employer in gratitude for the continuous services offered by the employee in the company. It is one of the retirement benefits offered by the employer to the employee upon leaving […]

Income Tax Deductions for salaried person- A.Y. 2014-15 and 2015-16

Income Tax Deductions for salaried person The Income Tax Act 1961 provides that after determination of gross total income of an assessee, certain deductions there from may be allowed. These deductions detailed in chapter VIA of the said Act which must be distinguished from the exemptions provides in Section 10 of the Act. While the former are to be reduced from […]