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 and get Form 16 i.e. for the financial year 2016-17. Each month, the employer would have deducted tax at source (TDS) on your salary income and deposited […]
Category Archives: Income Tax
Income Tax is the tax which directly levy on income of any personal.Central Board of Direct tax manage all the things related Direct Tax.
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 a NPS account. I therefore have decided to write about how to open your NPS account in physical form. This […]
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 the taxpayers, on the other hand, the individuals claiming a loss on the let out property or deemed to be […]
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 tax calculation purposes. This is also important for tax saving if you want to set off the interest you are paying […]
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 popular and frequently used deductions are allowed under section 80C of the Income Tax Act, 1961. Few others sections for […]