Income Tax Rebate Under Section 87A An income tax rebate can simply be understood as a form of refund on taxes that you receive from the Income Tax Department under certain circumstances. An individual is liable to receive a tax rebate in the event that he or she pays more taxes in a financial year [...]
Budget 2018 introduced the provision of standard deduction for both salaried employees and pensioners. It refers to a flat deduction of Rs. 50,000 (previously Rs. 40,000 for FY 2018-19) on taxable income, providing tax relief to select group of individuals.Standard Deduction has been introduced to bring parity between salaried employees and self-employed individuals. While self-employed [...]
This help document describes how to configure the Clinic Attendance software to analyze Clinic usage Step 1: Add Clinic Devices Step 2: Analyze Clinic Usage Step 3: Zoom in to the details Step 4: Employee wise Clinic Usage Summary Step 5: [...]
This help document describes how to configure the Canteen Management software to analyse canteen usage and cost. Step 1: Add Canteen Devices How to add devices and how the devices work together with the software is explained in another video. I've three canteens in my company with each having [...]
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. In the old tax regime, the taxpayers benefitted from several tax exemptions and deductions including tax deductions on health insurance and Equity linked savings [...]
What is Form 16 Form 16 is a document or certificate, issued as per the Section 203 – Income-Tax Act 1961, to salaried professionals in India by their respective employers. Also, referred to as a “salary certificate”, it contains the entire details regarding the salary given by the organization or [...]
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.
