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Deductions Allowed In Income Tax Payment For Life Insurance Plan

Life insurance policies are not only a life securing scheme, but also get attractive deductions during tax filing online. The tax benefits it offers are valid on capital invested, premium paid and the total maturity amount if it does not cross the prescribed threshold limit. 298 more words

Taxation

All The Employee Benefits You Receive Are Exempted From Income Tax Liabilities

Employees working with private or multinational companies receive many employee benefits and these are counted as non-taxable during income tax filing. There are many types of benefits that many MNCs offer to their employees to ease their daily working life. 270 more words

Taxation

Must Know Income Tax Information For EPF Investors

Employee’s Provident Fund or EPF avails a good deduction on taxable income during online income tax return filing. EPF is a retirement benefit scheme which is maintained by he Employees Provident Fund Organization of India. 297 more words

Taxation

Salaried Employees Must Declare All Investments With Form 12BB To Avail Applicable Rebate

Salaried employees must need to disclose all their investments to their employer so that they can claim all the applicable tax tax rebate during efiling income tax. 300 more words

Taxation

Deductions That NRIs Can Avail Under Section 80 Of Income Tax Act

Non Residential Indians or NRIs who earn or have investments in India are eligible for income tax e-filing. As like all other taxpayer category in India, NRIs are also eligible to apply for certain deductions on their taxable income according to Section 80 under the Income Tax Law. 317 more words

Taxation

GST and Its Relation with Harmonized System Of Nomenclature or HSN

Goods And Services Tax has been announced recently in India and the focus of this change is to meet the international standards. To meet international standards, it must need to comply with the HSN regime. 301 more words

Taxation

Know The Difference Between Financial Year And Assessment Year In Income Tax Form

Every year, millions of Indian citizen carry the income tax filing routine to maintain their financial profile. The most important thing one need to know during income tax filing is the various terms encoded into the form. 278 more words

Taxation