The deduction will be limited to the amount of LTA received or amount spent on journeys whichever is less. If the amount of bill claimed is lower than the LTA component in your salary structure, the balance will be taxed as per your income tax bracket or carried over. For example, if Ta...
The Invoiceitself is a standard VAT Tax Invoice. The normal requirements apply. The invoice issued on behalf of the Landlord must contain the Landlord’s registered name, the VAT registration number and full address. In order for the the Tenant to be able to claim the VAT, the Tenant’s r...
Moshe Ohayon of Louisville, Kentucky, discovered his talent for teaching as a student at Columbia University. Involved in atutoring program, Ohayonrealized he had a natural ability for breaking material down into parts and teaching each section in a clear and understandable way. A few years late...
Leave Travel Allowance (LTA): Find out the meaning, eligibility, claiming process, exemption limit, section, and stay updated with the latest developments.
House Rent Allowance is exempt under section 10(13A) of income tax Act subject to certain conditions. The form asks for amount of Rent paid, name and address of the landlord and PAN number of landlord in case the annual rent paid is more than Rs one lakh. You need to furnish rent rece...