Deductions under Chapter VI A of Income Tax Act Chapter VI A of Income Tax Act contains various sub-sections of section 80 that allows an assessee to claim deductions from the gross total income on account of various tax-saving investments, permitted expenditures, donations etc. Such deductions allow an assessee to [...]
Deduction under this section is allowed to individual and HUF. Deductions allowed under the income tax act help you reduce your taxable income.
The National Health Insurance Fund (NHIF) is a Social Health Insurance Institution established under the National Health Insurance Act, Cap 395 with the main objective of ensuring accessibility of health care services to people. It is a Government entity that operates under the Ministry of Health Community Development, Gender, Elderly and Children (MHCDGEC).
PAYE stands for Pay-As-You-Earn. It is the method of collecting Income Tax from employees on their earnings. Under this system, an employer is required by law to deduct income tax from an employee's taxable salary or wages. It could be weekly, fortnightly or monthly hence the name Pay As You Earn.
PAYE stands for Pay-As-You-Earn. It is the method of collecting Income Tax from employees on their earnings. Under this system, an employer is required by law to deduct income tax from an employee's taxable salary or wages. It could be weekly, fortnightly or monthly hence the name Pay As You Earn.
A complete payroll software for Tanzania that solves all your payroll related issues. It can streamline all payroll-related operations such as payroll, commissions, bonuses, PAYE, NSSF, NHIF and incentives, and tracks them to support all regulatory compliance with a country. It also helps to generate multiple payrolls.
PAYE Tanzania stands for Pay-As-You-Earn. It is a withholding tax on taxable incomes of employees. Under this system, an employer is required by law to deduct income tax from an employee's taxable salary or wages.
Pay As You Earn (PAYE) is a tax deducted from employees’ income and is paid by an employer on behalf of the employee. The tax is charged on all income of an individual in employment, whether it is received in benefit or in kind. A monthly PAYE return must be filed by the employer on behalf of employees on or before the fifteenth day of the month following the month in which the deduction was made.
The new Budget for the financial year 2020-21 introduced a new income tax regime for individual taxpayers. However, the new tax regime requires the individual taxpayer to renounce certain specified deductions. From April 1, 2020, an individual taxpayer will either continue with the existing tax regime or opt for the new one without 70 tax exemptions and deductions.
What is Public Service Social Security Fund (PSSSF)? The Public service social security fund institutes the Public Service Social Security Scheme that provides for contributions to and payment of social security benefits in respect of the service of employees in the public service. The Public Service Social Security Fund is a social security [...]
