Freelancers in India are required topay advance tax, also known as quarterly tax payments, if their estimated tax liability for the financial year exceeds a certain threshold. Advance tax payments are made in installments throughout the year, and failure to pay them on time may attract penalties...
As per Income Tax Act Section 10 (13A) and rule 2A exemption in respect of house rent allowance is least of the following:- Salary for this purpose is Basic Pay + DA forming part + commission on sale on fixed rate. Metro Cities: Cities like Delhi, Mumbai, Chennai and Kolkata constitutes...
5) NPS Vatsalya for Minors A new pension scheme allows contributions for minors, which become theirs upon adulthood. How to Save Money From These Taxes? Tax-Loss Harvesting. I did some research but could not find a correct solution. Then I used my expertise and found out an idea – here ...
5) NPS Vatsalya for Minors A new pension scheme allows contributions for minors, which become theirs upon adulthood. How to Save Money From These Taxes? Tax-Loss Harvesting. I did some research but could not find a correct solution. Then I used my expertise and found out an idea – here...
If you have received any portion of your salary in arrears or in advance, or you have received family pension in arrears, you can avail some tax relief under section 89(1) read along with Rule 21A. Calculate Relief under Section 89(1) ...