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Breaks or holidays are a critical part of that elusive work-life balance we all chase. It’s probably why the Government of India grants tax exemptions on leave travel allowances provided by the employer. Your workforce should know that if their LTA is part of their CTC, employees can cover...
Apart from this, the Health and Education cess at 4% is levied on the income tax plus surcharge (if applicable) amount. Exemptions and deductions Refer to the table below for an overview of the standard deductions and exemptions available under the tax regimes for financial years 2022-23 and...
Realistically a hands-on survey would have to involve putting substantial amounts of money on all platforms, unsheltered, to generate Capital Gains Tax reports, and really to do some trading etc on each to generate gains and losses. I guess it’s a bit easier now the CGT limit has been ...
The financing of these redevelopment costs is able to be provided by bonds, notes or other obligations of the City which are payable from ad valorem property taxes levied on assessed value of the property within the BeltLine Tax Allocation District after development, less the amount of ad valorem...
In case an eligible employee is paid Leave Travel Allowance (LTA), the amount is not considered for LTA exemption under Section 10. Instead, it is exempted under Section 10(26) along with all other earnings. This exemption is applicable only during the employee’s employment in the specified...
In view of the difficult economic environment, and to encourage individuals to use their unclaimed LTA amounts and to boost consumer demand, the government came up with relaxed guidelines. These relaxed guidelines allowed the payment of cash allowance, it will be equal to LTC given to central go...
On 15 March 2023, the Chancellor announced that the lifetime allowance (LTA) for pensions will be abolished. The LTA is the total amount that an individual can accumulate in UK registered pension schemes and relevant overseas pension schemes without incurring certain tax charges. The LTA charge ...
“How Income Tax is Calculated on Salary?”– Navigating the labyrinth of income tax calculation in India, particularly for salaried individuals, can be akin to solving a complex puzzle. Fear not, for it’s a crucial puzzle to unravel in the realm of personal finance. Income Tax Calculator ...
Leave Travel Allowance (LTA): This allows for two trips within a block of four years. The exemption limit for air travel is the economy class airfare or the amount spent, whichever is less. For rail travel, it’s the air-conditioned first-class rail fare or the amount spent, whichever ...