In India, the tax is not imposed on the long-term capital gains of stocks and equity mutual funds. But, 15% tax is levied on the short-term gains. Both short and long-term capital gains are taxed in the case of debt mutual funds. While the long-term gains on debt mutual funds are...
All India Merchant Navy Entrance Test (IMU-CET Online Test is conducted twice a year i.e NOVEMBER/DECEMBER & JUNE/JULY All over India.) This all India entrance is conducted for joining Merchant Navy Course in DG SHIPPING (GOVT. OF INDIA) Approved Colleges. ...
The salary of a Big Data Engineer is incredibly higher than most job roles in the industry. However, various factors come into play while determining the salary. In this Big Data Engineer salary blog, we will discuss the salaries of these professionals working in India, especially some of the...
If it is a government employee (under either central or state government) who is eligible for gratuity, they’ll be exempt from income tax. For employees who are covered under the Payment of the Gratuity Act, only the last fifteen days of the drawn salary will be exempt from income tax....
How to design Salary PackageCA.S.Selvakumar
Location: Organizations tend to stay at a location or switch to other locations, depending on factors such as tax laws, labor laws, etc. So, there are better opportunities and high pay in some locations, compared to others. Let’s see the average salary in major cities in the US and the...
In India, different tax slabs correlate to different gross salaries earned. The lowest income tax bracket is 5%, while the highest tax bracket for people is 30%. The formula for calculating IT for various incomes is: (Percentage of Income Tax * Gross Salary) For instance, if it is ...
Sure, here is a step-by-step guide on how to calculate annual income in the Indian context: Gather Income Information Start by gathering all relevant income information for the year you want to calculate. This may include: Salary statements from your employer ...
Calculating the tax-exempt HRA: Actual rent paid minus 10% of salary: 15000-5000 = 10,000 HRA from employer: 12,000 City specific limit: 30,000 (50% of basic salary + dearness allowance) The amount of tax deduction that can be claimed is the least of the above numbers, which is th...
One is eligible for an income tax refund when Your TDS( tax deducted at source) from salary, interest on securities or debentures, dividends, etc. is higher than the tax payable by you. The tax you’ve paid, in advance on the basis of self-assessment is more than the tax payable on ...