This post is based on my personal experience of my first failure in CA IPCC level. After 1year of this incident, I finally got the reason to raise this experience in front of everyone. It all happens because in myContinue reading… CA exams not cleared? Read how I had tackled with failure!
The income tax return is filed every year so as to give complete detail of income earned in the previous year. Previous year means year previous to the year in which you need to file the return. For Example: AtContinue reading… How to fill Income tax return in offline utility? (Step-by-step procedure)
1st February 2019 will always be remembered for one of the finest budget of NDA Government. This budget is the blend of economic reforms with political aspirations. This budget had shown benefits to various sectors of economy. Presented by financeContinue reading… Income tax highlights from Interim budget 2019
What is Gratuity? Gratuity is a payment made by the employer to an employee in appreciation of the past services rendered by the employee. It can either be received by: the employee himself at the time of his retirement, orContinue reading… Gratuity and its treatment
Section 17(3) gives us an inclusive definition of “Profit in lieu of salary”. As the name suggests, these payments are received by the employee in lieu of or in addition to salary or wages. These payments includes the following: TerminalContinue reading… Profit in lieu of salary: Learn all about it!
Among the types of perquisites you have learned, Leave Travel Concession or Assistance(LTC/LTA) carries great importance. It is the perquisite given to employee on his leave travels. It also includes employee’s family members. What is the tax provision of LTC/LTAContinue reading… LTC/LTA: Treatment of Leave Travel Concession or Assistance
Medical perquisites are considered as tax free perquisites as per Income Tax Act. However there are certain cases where medical facilities are treated as tax free perquisites. You must read till end! Medical facilities/reimbursement in India The value of anyContinue reading… Medical perquisites to employees: What is its tax treatment?
Introduction Motor car provided by the employer is a perquisite only for specified employees because it is a facility provided by the employer to employees. On the other hand, if the car belongs to the employee and the expenses ofContinue reading… Valuation of perquisites of the Motor car
In Taxation, all income, for purposes of charge of Income tax and computation of tax are classified under various heads, which are Salary, House property, Profits and gains of Business and Profession, Capital gains and Other sources. In this post,Continue reading… Income under the Head ‘Salaries’: An Overview
For any CA student, articleship phase is something very promising period, where a student can actually experience the practical aspects of this course. In this phase, student can get a chance to not only implement their raw knowledge of TaxationContinue reading… Essential points you should know before entering in ‘Good firm’ for Articleship