TDS on Salary: Easy Way to Calculate TDS on Salary

The most confusing concept in whole TDS is “TDS on Salary” as readers always asked questions about the topic. In this article, we will cover all the topics related TDS on salary like how to deduct TDS on salary, how to calculate tds on salary, deposit TDS, submission of statements, time of deduction, annual salary … Read more

ITR 1 Form: How to Fill ITR 1 – How to efile ITR 1 Form

As you all know that you have to file income tax return of salary for the A.Y.2017-18 for the period of 1-4-2016 to 31-3-2017. ITR-1 is also called as Sahaj Form. The last date to file salary income tax return is 31st July, 2017 as per the date mentioned in the Income Tax Obligation Calendar … Read more

12 Ways to Reduce Taxes on Salary

In India, everyone is in need to reduce the tax burden. Here the salaried people suffers more as the salary is received through bank so the ways of tax reduction gets decreased. In this article, we will have a look on some of the ways which could help the salaried people to reduce the tax … Read more

A Very Simple Guide for Tax on EPF Withdrawals

The biggest burden on every employee is tax on EPF. People make very wrong statement about EPF, that EPF withdrawals are not taxable but it is not purely true because these withdrawals can be taxable under some conditions that are given below. If before the completion of 5 years the employee withdraws the EPF balance … Read more

Taxability When Car is Provided by Employer to Employee

We can see this generally that company is providing Cars to its employees for doing the official duties. These cars are generally provided by the employer of your company and are used by employees. Cars are used for both official and personal purposes. Employees get confused about the tax-ability of owning car and leasing a … Read more

Tax Benefit to Employee on Medical Reimbursement

Today employers provide many health benefits to their employees. Medical Reimbursement is one of that. Medical Reimbursement is an arrangement under which employers reimburse the portion of the health expenses incurred by the employee on obtaining medical treatment of self and any family member. Don’t be confuse: In this article you will read about health … Read more

Download Free e-book of TDS on Salary

CBDT has published detail instruction PDF file for the guidance on TDS on Salary. Circular No.1/2017: Dated – 02-01-2017 F.No.275/192/2016-IT(B) For Financial Year: 2016-17 Download Here CBDT has released the e book on TDS amended up to Finance Act 2010. You can download it totally free because it made especially for taxpayers.  You don’t need … Read more

Taxable & Non-Taxable Perquisites A.Y.2016-17

Perquisites are benefits earned by employees of a company along with their normally received wages or salaries. They are also called as perks. It is like a gratuity or incidental payment for which the employee has the sole right. These are fringe benefits paid for a genuine reason. They can be either given by the … Read more

Why You Must Submit Other Incomes Details to Employer?

As you all know it is employer duty to deduct TDS for the payment of salary to employees. So U/s 192, the employer is required to deduct income-tax while making the payment of salary during the financial year 2015-16 at the rate of income tax slab for A.Y.2016-17. Employees who are getting salary from employer … Read more

Relief on Salary Arrears or Advance, Gratuity, Pension & Family Pension

Salary in arrears/advance, received in lump-sum, is liable to tax in the year of receipt (unless it has already been subjected to tax earlier). Some relief is, however, allowed from tax on such receipts. Relief is also available in respect of gratuity for past services of not less than five years; leave encashment, compensation on … Read more

Basics to Know About Income Tax Return for Salaried Persons

Most of our readers asks about these FAQ regularly by salaried persons. So we have prepared this post for our readers to clarify things in a very simple manner to eliminate confusion about income tax return. What is Form 16?  Form 16 is a TDS certificate in respect of tax deducted from salary. The certificate … Read more

Deductions From Salary: Check All Salary Deductions for A.Y.2015-2016

The salary persons always ask from us that tell all the deductions which we can claim from salary for A.Y. 2015-2016 or any previous year. So we are giving the list of all the deductions which you can claim while calculating taxable salary income or net total income after adding other sources incomes.  The deductions … Read more

Save Tax in 2016-17 by Investing Efficiently

With the Budget 2015 implemented in the country, who doesn’t wants to reduce their payment of tax? “No one” is the straightforward answer to this question. In present economy where inflation rules the country, everyone wants to have more money in their pockets and safe custodies so that they can use it in future. Payment … Read more

5 Tax Planning Tips for Salaried Employees for A.Y. 2015-16

The new budget announced this year by the new government brought a host of changes. However, the scope for salaried class were, as usual, limited. Only a few positive chances were introduced to enhance the quality of life of the salaried or working class. In these cases, tax planning can be extremely beneficial in saving … Read more

Easiest Way to Calculate HRA Exemption

House Rent Allowance is normally called HRA by the assesee. The HRA means House Rent Allowance received by you from employer in respect of residential accommodation occupied by you. So in simple words the employer will pay you the rent which you are paying for your rented accommodation. Most of the assesees confuse over the … Read more