Process TDS for all your employees in just a few clicks. This document describes how you can do that. Step 1 : Employee Investment Declarations Step 2 : Manage investment declarations Step 3 : Process TDS for all employees Step 4 : Compute TDS [...]
Appraisal, in the context of HR, refers to the process of evaluating and assessing an employee's performance, skills, and achievements within an organization. It is a formal and structured review conducted periodically to provide feedback, set goals, and make decisions regarding promotions, salary adjustments, training needs, and career development. [...]
Income tax on employment income For tax purposes, an employee is defined as an individual engaged to perform services under the direction and control of another person. This engagement can take place on either a permanent or temporary basis. The definition does not include independent contractors but does cover directors, other office holders [...]
Section 80E of the Income Tax allows deduction from taxable income in respect of interest on loan taken for higher education. Let's find out how you can save tax with your Education Loan. As per section 80E, the interest on education loan can be claimed as a deduction with no upper [...]
This help document describes how you can calculate Tax Liability from Income Tax using an online income tax calculator. Step 1: Open the Income Tax Calculator Go to www.lenvica.com / Solutions / Income Tax Calculator Step 2: Fill in the basic details to start with [...]
Section 80G Contributions made to certain relief funds and charitable institutions can be claimed as a deduction under Section 80G of the Income Tax Act. All donations, however, are not eligible for deductions under section 80G. Only donations made to prescribed funds qualify as a deduction. This deduction can be claimed by [...]
Pay rent to your parents and save taxHouse Rent Allowance (HRA) is offered to almost every salaried employee. Taxpayers who have been living with their parents too can capitalise on the benefits under the Income Tax Act that allows tax deductions on house rent.You can pay rent to your parents by transferring money to their [...]
What is Cess? A cess is a government-imposed tax on tax, levied to raise funds for specific reasons. Generally, cess is expected to be levied when there is a need to meet specific expenditure for public welfare and discontinued once the government gets enough funds for that purpose. Cess is not the same as [...]
What is income tax slab ? Indian Income tax levies tax on individual taxpayers on the basis of a slab system. Slab system means different tax rates are prescribed for various ranges of income. It means the tax rates keep increasing with an increase in the income of the taxpayer. This type of taxation [...]
What is income tax slab ? Indian Income tax levies tax on individual taxpayers on the basis of a slab system. Slab system means different tax rates are prescribed for various ranges of income. It means the tax rates keep increasing with an increase in the income of the taxpayer. This type of taxation [...]
