Come January, it is time to claim your annual reimbursements such as medical and leave travel allowance (LTA). These reimbursements are as good as tax savings. The difference being that you submit the required bills and treat them as tax-free income If LTA forms a part of your salary, the...
The revised return can be filed before the expiry of one year from the end of the relevant assessment year or before the completion of assessment, whichever is earlier, As per section 139(5) of Income Tax.You cannot revise return ifyour return is processed. For example: If a Return of I...
Let’s assumeChristineandFreddieboth inherit £10,000 each. Nothing to be sneezed at, certainly – thoughFreddieisn’t against shoving a crisp £10 of it up his nose in the right circs – but also not enough to see HMRC unleash a plainclothes officer and a tax evasion detector van. ...
Get ready for the 2024/25 Self Assessment deadline with expert tips and insights from Quickbooks. Discover essential strategies to prepare for stress-free tax.
6. LTA & Medical Reimbursement can be claimed only by submitting relevant proofs to your employer.You cannot claim these tax benefits while filing tax returns. 7. Other than the above you can claim all tax benefits while filing your tax returns, soif there is a dispute with employer for cer...
You need to show documents (passport stamps, visas, employment records, academic records, tax returns, bank statements…) to prove that you had lived (studied, worked, or just lived) in the country (who issued the driving license) for 1 year or longer AND you had stayed in that country ...
Please note that the following cannot be directly claimed while filing your return. You can only claim it through your employer. LTA:Expenses on a trip during the year against your LTA can only be claimed via your employer. LTA is allowed to be claimed twice in a block of four years. Th...
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