Income Tax Allowances and Deductions Allowed to Salaried Individuals Salaried employees are the backbone of the country’s taxpayer base, making significant contributions to tax revenue. Income tax deductions offer...
Leave Travel Allowance The Income Tax Act offers several tax benefits to employees, like house rental allowances and deductions on interest paid on house loans. The LTA is one...
EPF vs. PPF vs. VPF EPF vs PPF vs VPF : In India, there are three major retirement plans for employees: the Employees Provident Fund (EPF), the Public Provident...
HRA:House Rent Allowance Did you know there are benefits to paying rent as a salaried employee in India. House Rent Allowance (HRA) is an exemption from the government What...
Is Stipend income taxable? You just landed your first internship and received your first stipend , but now you’re worrying if stipends are taxable. This is a topic of...
Tax-Saving Strategies for Retirement Planning Retirement is supposed to be the golden period of your life where you can kick back and finally relax, but to be able to...
Residential Status for Income Tax – Individuals & Residents The residential status of taxpayers is crucial for the income tax department because the amount of tax to be paid...
Income from Salary: How to Calculate Income Tax on Salary (FY 2023–24) Paying your income tax can be quite a confusing process. Terms like tax bracket, tax return, and...
Income Tax Returns – Know about Which ITR You Should File? Filing Income Tax Returns (ITR) is an essential aspect of financial responsibility for individuals and businesses alike. However,...
What is Form 16? Is it necessary to file an income tax return? Form 16 is one of the most essential tax forms for salaried employees. It streamlines the...
