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Archive for May, 2016

Form No. 12BB – Particulars of claims by an employee for TDS on salary

Employers seek information on and proof of investments/expenditure from employees who wish to avail tax benefits each year. The benefits include those on allowances such as House Rent Allowance and Leave Travel Allowance, and those on deductions such as interest payment on housing loan (Section 24) and payments towards life insurance premium etc. under Section […]

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Form No. 24Q filing deadline change effective 01-June-2016

Currently (as of May 2016), the deadlines for Form No. 24Q filing are as follows: Quarter Deadline First quarter, ending 30th of June Immediately following 15th of July Second quarter, ending 30th of September Immediately following 15th of October Third quarter, ending 31st December Immediately following 15th of January Fourth quarter, ending 31st of March […]

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SBI Lending Rates for Loan Perquisite Calculation – 2016-17

State Bank of India (SBI) has published the reference lending rates for the purpose of loan perquisite calculation for the financial year 2016-17. You can find the SBI rates as on 01-Apr-2016 here. SBI provides reference rates for different types of loan (home loan, car loan etc.) and employers should use the correct reference rate for […]

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