Concept of income tax return (ITR) – Income Tax Return Last Date

 Concept of income tax return (ITR) : It is a form prescribed by the income tax department through which the income earned by a person/individual in financial year and taxes paid on such income are file. The forms are known as ITR forms. And one can download all ITR forms through the income tax website … Read more

Calculation of Income from salary: Income TaxPe

Calculation of Income from salary in Income Tax:- (आयकरमें वेतन से आय की गणना)    Income from Salary:- (वेतनसे आय)    Salary and wages are two words used for the same purpose. Both means to pay money for work or services. But the difference is that salary is paid to employees on a monthly basis but … Read more

Salary Head Income Tax. Income from salary problems and solutions 2020 21 pdf : Income TaxPe

Salary Head Income Tax Compute Income under the head Salary of Gopal for the assessment year 2020-21 from the following particulars:   1. Basic Salary 12,000 p.m.   2. DA 2,000 p.m. (which enters the retirement benefits as per the terms of employment)   3. Bonus 4,000 p.a.   4. Rent free accommodation in Delhi. … Read more

Entertainment allowance in Income Tax

Entertainment allowance in Income Tax:- (आयकर में मनोरंजन भत्ता) Entertainment allowance is given by the employer to employees for the purpose of meeting the entertainment expenditure like meeting, drinking, fooding, hotel staying, moving etc. (मनोरंजन व्यय को पूरा करने के लिए नियोक्ता द्वारा कर्मचारियों को मनोरंजन भत्ता दिया जाता है जैसे बैठक, शराब पीना, खाना, … Read more

House Rent Allowance – (HRA Calculation) : INCOME TAX

House Rent Allowance (HRA Calculation):- In this article you will able to know about HRA Calculation.     Some time the employer doesn’t provided the rent free accommodation rather instead of that the employer makes payment in cash which is known as house rent allowance. In other words the employer pay some extra amount to employee … Read more

Residential status of Individual in income tax

Residential status of Individual in income tax:- (आयकरमें व्यक्ति की आवासीय स्थिति)     Residential Status doesn’t depend upon the domicile , nationality and territorial connection of the individual. An Indian citizen who was born in India may not be the residents of India whereas an American citizen may be the residents of India. Thus residential status … Read more

Perquisite Meaning in Income Tax

Perquisite Meaning in Income Tax:-     Perquisitesare those extra payments which are received by an employee from the employer above the salary. It may be defined as any casual benefit attached in addition to salary or wages. It also describes something that benefits a man by going into his own pocket. Perquisites may be offered in … Read more