Income Tax : Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by em...
Income Tax : Eligible individuals, non-corporate taxpayers, and senior citizens can avoid TDS on specified incomes by furnishing Form 15G or Fo...
Income Tax : The Income Tax Department has explained the tax treatment of gratuity, pension, leave encashment, provident funds, NPS, and retire...
Income Tax : This guide explains the tax treatment of salary allowances, exemptions, and deductions available to salaried employees. It highlig...
Income Tax : HRA exemption and home loan deductions operate under separate sections of the Income Tax Act. Taxpayers may claim both under the o...
Income Tax : From April 2025, standard and family pension deductions will increase to ₹75,000 and ₹25,000 under the new tax regime, boostin...
Income Tax : Discover the Ministry of Finance's latest tax changes: ₹75,000 standard deduction, enhanced pension benefits. Potential savings ...
Income Tax : Perquisites includes the value of any concession in the matter of rent respecting any accommodation provided to the assessee by hi...
Income Tax : Cautionary Advisory on Reports of tax evasion by under-reporting income or inflating deductions/Exemptions by salaried taxpayers. ...
Income Tax : The Central Board of Direct Taxes (CBDT) has clarified that the pension received by a taxpayer from his former employer is taxable...
Income Tax : The Income Tax Appellate Tribunal (ITAT), Chennai, held that an ex-gratia payment received by an employee upon the closure of the ...
Income Tax : In the case of Sanjay Baweja Vs DCIT, the Delhi High Court ruled that one-time payments in lieu of ESOPs do not constitute salary ...
Income Tax : ITAT Delhi dismisses Revenue's appeal against order of Commissioner of Income Tax (Appeals) regarding valuation of perquisites and...
Income Tax : Explore the ITAT Delhi ruling on Devi Dayal Vs DCIT regarding taxation of salary earned by a non-resident outside India. Detailed ...
Income Tax : ITAT Delhi's decision in the case of Sumaitri Bima Distributors Pvt. Ltd vs. ITO regarding non-applicability of S.40(a)(ia) for TD...
Income Tax : CBDT amends Income-tax Rules 1962. This change, effective August 21, 2025, revises Rule 21AIA, omitting sub-rule (4) and redefinin...
Income Tax : CBDT notifies new perquisite rules under Section 17(2); salary limit ₹4 lakh and gross total income limit ₹8 lakh for claiming...
Income Tax : Key updates on income tax deduction from salaries under Section 192 for FY 2024-25, including amendments, surcharge rates, and new...
Income Tax : Corrigendum for the Notification bearing G.S.R. No. 615 (E) dated 18.08.2023 i.e. Income Tax Notification No. 65/2023 dated 18th A...
Income Tax : CBDT has modified Income Tax Rules, 1962, to determine the value of perquisite for residential accommodation provided by employers...
Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by employees. Exemptions apply for loans up to ₹20,000 and specified medical treatment loans.
Eligible individuals, non-corporate taxpayers, and senior citizens can avoid TDS on specified incomes by furnishing Form 15G or Form 15H when prescribed conditions are met. The rules also mandate UIN allotment, quarterly reporting, and seven-year record retention by the payer.
The Income Tax Department has explained the tax treatment of gratuity, pension, leave encashment, provident funds, NPS, and retirement compensation under the amended law. The guide clarifies exemption limits, deduction eligibility, and taxable components of retirement benefits.
This guide explains the tax treatment of salary allowances, exemptions, and deductions available to salaried employees. It highlights how eligible claims can reduce taxable income under the Income-tax Act.
HRA exemption and home loan deductions operate under separate sections of the Income Tax Act. Taxpayers may claim both under the old tax regime if the arrangement is genuine.
The new form consolidates multiple income disclosures into one, enabling accurate TDS deduction. Key takeaway: unified reporting reduces excess tax deduction and refunds.
Explains salary taxation under Income-tax Act 2025 from April 2026, covering sections, perquisites, deductions, TDS changes and new forms.
The case explains how salary income is computed on a gross basis with only specific deductions permitted. It clarifies the scope of taxable components and highlights the restrictive nature of allowable deductions under the Income-tax Act.
From April 2026, 8 cities qualify for 50% HRA exemption. New rules impact calculations, compliance, and disclosures for salaried taxpayers.
Form 124 allows employees to declare tax-saving claims to employers. Filing ensures correct TDS calculation with eligible deductions.
