Leave Encashment Tax - The company provides paid leave to all employees, although not all leaves are available to the employee during the period of work. You should, therefore, encash…

Calculate Income Tax on Salary - As per the IT Act of 1961, any salaried person is required to pay a portion of their salary to the government as tax.…

Section 9 of the Income Tax Act - In India, the Indian Income Tax Act provides us with a levy of income tax on the income which is earned from…

The pay of the employee or employer is based on Section 15 of the Income Tax Act. It will be subject to income tax under the following sections for "Salaries":…

Section 17(1) - Salary is the compensation earned by or accumulating to an individual on a regular basis for services performed under an express or implied contract. In terms of…

Amendment in the Income Tax - Income tax is a direct tax levied by the government on the earnings of its residents. The Income Tax Act of 1961 requires the…

Amendment in tax laws - The Income Tax Act of 1961 is a law that governs the levy, administration, collection, and recovery of income tax in India. The act entered…

The Income Tax Act allows for separate income tax exemptions that can be reported at the moment of filing ITR. The total taxable income will be taxed in accordance with…