Tag: Exemption

What is tax benefit of Superannuation Fund

What is tax benefit of Superannuation Fund

What is tax benefit of Superannuation Fund You may have knowledge about provident fund however  you may not be aware regarding Superannuation Fund and want to know what is tax benefit of superannuation Read more […]

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Deduction of Interest on deposits in Saving Accounts

Deduction of Interest on deposits in Saving Accounts

Deduction of Interest on deposits in Saving Accounts. While filing Income Tax return for FY 2013-14, you may be wondering whether to include saving account interest in Gross Total Income. Can I get Read more […]

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How to calculate exemption on Pension Income

How to calculate exemption on Pension income There are two type of pension viz; Commuted and Uncommuted Pension. Treatment of both type of pension is different as per section 17(1)(ii) of Income Read more […]

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Tax Treatment of Gratuity as per Income Tax Act,1961

Tax Treatment of Gratuity as per Income Tax Act,1961 is covered U/S 10(10) of the Act. In case of retirement, resignation or  termination, you have to consider Income Tax liability on propose receipt Read more […]

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Exemption on Leave Travel Allowance (LTA)

Employee are getting Leave Travel Allowance (LTA) as a part of their Salary (CTC) but important factor is that LTA is received only on annual basis and not add to your monthly take home salary. You have Read more […]

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Exemption of Leave Encashment

Employees are eligible for various leave while in service .Employee usually take some leave during the year as per company policy and balance leave will remain unavailed for the year. For example employee Read more […]

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How to Calculate House Rent Allowance – HRA

House Rent Allowance (HRA) is provided by employer to employee as a part of consolidated Salary or you can say Cost to Company (CTC) to meet rent of accommodation. HRA is exempted up to some extent as Read more […]

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