Leave encashment is taxable. The taxable conditions differ from sector to sector and from one company to another. Leave encashment policy also varies from one company to another. Some companies are liable to compensate for the accumulated paid leave at the time ofresignationor retirement. Other com...
Book profit isamount calculated as per Income Tax Act to arrive at amount of maximum allowable deduction of remuneration of partner. In this article we discussion about steps to calculate book profit of Partnership firm to calculate partners remuneration. What is a casual income? Casual income, as...
Advance Tax: If the tax on other income is above Rs. 10,000 in a year, the assessee is required to calculate and deposit the advance tax. This advance tax is to be paid on a quarterly basis such as in, June, December, September and March....
It is important to understand what loss of pay is to understand its implications and adopt the best strategies to calculate loss of pay in salary.Read the blog to understand LOP (Loss of Pay), formula to calculate it, the factors determining LOP, and how to calculate lop in salary slip. ...