Tax Planning Calculator

One earns his/her salary after slogging hard for a month. But the in-hand income that comes is quite shorter than the gross income as EPF and other statutory deductions are deducted from the same. When taxes are applied, the in-hand income reduces... Read More

Is your take-home income way short of your gross earnings? The heavy tax imposition may just be the reason! Invest in a tax-saving instrument to ensure you take home reasonably high. But which instrument to pick as there are many? Ideally, you... Read More

So finally came one of the most important news for all the income tax payers. Yes, the Central Board of Direct Taxes (CBDT) on Thursday made an announcement of the new Income Tax Return forms for the assessment year 2018-19. The policy making body... Read More

Meaning of Perquisite In general, perquisite means any benefit. In the context of salary income, perquisite means any benefit provided by the employer to the employee. As per the provisions of the income tax act, perquisite includes: The... Read More

Income-tax Returns, UIDAI, Aadhaar, e-filing, Pan-Card Linking, Enrolment Centres, Chartered Accountants, Deadlines – if these words are making you panic as the deadline for filing Income Tax Returns closes in, then calm down and read this. For... Read More

A person is liable to pay interest for various delays/defaults like interest under section 234A for delay in filing the return of income, interest under section 234B for default in payment of advance tax, interest under section 234C for deferment of... Read More

Don't waste your time searching for your endless tax related queries? Whether it's about paying taxes, filing of your tax returns ,for tracking TDS or applying for your PAN Card, get everything at one place. Yes, you have heard right! With the... Read More

A tax refund arises when a taxpayer pays tax in excess of what he owed to the income tax authorities. Usually, a taxpayer pays taxes in the form of withholding taxes, advance taxes, self-assessment taxes, etc. Tax refund can only be claimed by... Read More

All income received as salary under employer-employee relationship is taxed under the head, “Salary”, on due or receipt basis, whichever arises earlier. Thus, for any income to be taxable under the head salary, the following primary conditions... Read More

On my way to a conference in Mumbai, I was sitting across an IT professional. Conversing with him for over 10 minutes gave me an idea about his ignorance on the taxation matters. Keeping that experience in view, I wanted to throw some light on the... Read More