Some employers allow their employees to avail partial encashment of accumulated leave during continuance of their service
Tax and investment expert Balwant Jain believes that while choosing tax-saving options, people should also keep their financial goals in mind. Jain says that planning for income tax from the very beginning is not a difficult task and it also has many benefits.
Leave encashment tax calculation: Here’s how tax on Leave Encashment by Salaried Employees will be calculated for Income Tax Return FY 2022-23
Are you unsure about whether you should file an income tax return (ITR) in India? Read on to know more
If the amount of TDS and TCS exceeds Rs 25000 in a year then Income Tax Return (ITR) has to be filed, said the new ITR filing rule.
Taxpayers can now file an updated ITR within two years of the assessment year by paying additional tax
ITR-4 can be filed by individuals with income up to Rs 50 lakh from business or profession and have opted for presumptive taxation scheme.
Some employers allow their employees to avail partial encashment of accumulated leave during continuance of their service
Section 80C provides deduction in respect of various items like life insurance premium, investment in Public Provident Fund (PPF), investment in NSC, repayment of principal component of housing loan, investment in Bank or Post Office Time Deposit Scheme, Senior Citizens Saving Scheme, Sukanya Samriddhi Yojana, etc.
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