he/she can contribute₹1.5 lakh to Public Provident Fund (PPF). If there is a surplus still, VPF will still be better than products like corporate fixed deposits post-tax.One can also invest in NPS considering the additional deduction available...
The government will extend the tax deduction on rental reduction for business premises for another six months from January to June 2022. This incentive is available to taxpayers who provide a rental reduction of at least 30 percent.Extension of the tax rebates for new MSMEs...
Rules to be framed to remove the double taxation burden on NRIs To simplify the process of I-T returns filing, details on capital gains from listed entities, bank interest, dividends, will now come pre-filled in tax filing forms. The Rs 1.5 lakh tax deduction on payment of inter...
F7 – Complete medical examination for self, spouse or child.You should use up the RM500 limit on this item, example, yearly medical checkup or comprehensive blood-check from Pathlab or BP Healthcare. Take note that the total deduction for above F6 and F7 is limited to RM5,000. Thus, ...
On the basis of this, pensioners get pension after retirement with the help of this. Although you can easily … Continue Reading » EPFO, Marketing, Media, Pensioner, PPF EPF Office, EPFO, epfo subscribers, National Pension System, New Guidelines of EPFO, WEALTH4INDIA More TDS deduction ...
PCB stands for “Potongan Cukai Berjadual” in Malaysia, which translates to “Scheduled Tax Deduction” in English. It refers to the system of deducting income tax from an employee’s monthly salary or wages.Employers in Malaysia are required to deduct PCB from their employees’ salaries or ...
Leave encashment on retirement Amount received on VRS up to Rs 5 lakh Employee Provident Fund money(EPF) Short-term withdrawals and maturity amount from the National Pension Scheme Money received as scholarship for education Cash received as awards constituted in public interest Deduction under sub-se...
According to Lembaga Hasil Dalam Negeri (LHDN), with effect from year 2016, an individual who earns an annual employment income of RM 25,501 (after deduction of EPF) has to register a tax file. The example as at below: Ben is earning a RM 40,000 per year salary. Ben do have a RM...
Enhancement of standard deduction for the salaried class and tax exemption for all taxpayers deriving income upto INR 5 lakhs a year will provide some relief to the middle class. The budget also has a range of provisions that factor economic support for the small farmers/marginalised sections. ...
Deduction u/s 80C (EPF, LIC, ELSS, PPF, FD, Children’s tuition fee, etc.)NoNo Leave Travel Allowance (LTA)NoNo Interest on education loan – 80ENoNo Other allowances including food allowance of Rs 50/meal subject to 2 meals a dayNoNo ...