SBI Lending Rates for Loan Perquisite Calculation – 2015-16
State Bank of India (SBI) has published the reference lending rates for the purpose of loan perquisite calculation for the...
Read moreBudget FY 2015-16 – Tax on Salary
A new tax year has begun and it is time to start implementing the budget proposals related to tax on...
Read moreTamil Nadu Labour Welfare Fund Contribution Hiked Effective Jan 2015
As per a recent gazette notification issued by the government of Tamil Nadu, the Labour Welfare Fund (LWF) contribution has...
Read moreRounding off salary while calculating TDS
I draw your attention to Point e under “Certain essential points regarding the…..” in section 4.6.1 in the salary TDS...
Read moreTDS on Salary – Circular for FY 2014-15
The Income Tax Department has issued the “TDS on Salary” circular for FY 2014-15. http://www.incometaxindia.gov.in/communications/circular/circular17_2014.pdf Please ensure that all tasks...
Read moreIs the Professional Tax Levied by Some Authorities Unconstitutional?
Article 276(2) of the Constitution of India, which empowers state government authorities to levy Professional Tax (PT), restricts levy of...
Read moreTax Benefit on Housing Loan Interest – Is it Rs 30,000 or Rs 200,000?
What is the maximum deduction available for the interest payment on a housing loan for a self-occupied house property (as...
Read moreCapital Gains – Housing Loan Interest as a Cost of Acquisition
While calculating capital gains tax on sale of a house property, can we consider the housing loan interest as a...
Read moreAbout Professional Tax
Professional Tax (also referred to as Profession Tax) is a tax on income levied by state government authorities in India....
Read morePF – Wage Ceiling Enhancement to Rs 15,000 Effective 01-Sep-2014
The Provident Fund (PF) department, in its circular dated 28-Aug-2014, has notified the wage ceiling enhancement to Rs 15,000 per...
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