Income Tax Archives - Page 2 of 12 Finance Friend

Exemption on Leave Travel Allowance (LTA)

September 16, 2022July 24, 2022 CA. Kalpesh Karia

https://financefriend.in/ Karia CA. Kalpesh

Background: You want to claim LTA and get exemption on Leave Travel Allowance (LTA) then this is right post for you. Employees are getting Leave Travel Allowance (LTA) as a part of their Salary (CTC) Read more […]

What is Cost Inflation Index (CII)

September 16, 2022July 23, 2022 CA. Kalpesh Karia

https://financefriend.in/ Karia CA. Kalpesh

Cost Inflation Index (CII) As per provisions of Income Tax Act, for the purpose of Long term capital gains, Indexed cost of acquisition and indexed cost of improvement are deducted from Sale value Read more […]

Are you ready with New TDS and TCS changes in your ERP from Jul- 2021?

June 23, 2021June 22, 2021 CA. Kalpesh Karia

https://financefriend.in/ Karia CA. Kalpesh

New TDS and TCS changes in ERP from Jul- 2021 : Budget 2021 has introduced new section 194Q in income tax to deduct TDS @0.10 % on purchase of goods on value exceeding Rs. 50 Lakhs during financial Read more […]

How to get Future Value with Inflation Calculator ?

June 9, 2021June 8, 2021 CA. Kalpesh Karia

https://financefriend.in/ Karia CA. Kalpesh

Inflation Calculator: Are you planning to save for your Child’s education but don’t know what will be education fees after say 10 years in case it cost you today 100,000 and inflation rate is 5%. This Read more […]

Deduction of Interest on Housing Loan in case of co-ownership

June 26, 2021May 12, 2021 CA. Kalpesh Karia

https://financefriend.in/ Karia CA. Kalpesh

Deduction of Interest on Housing Loan in case of co-ownership. Section 24 and section 80 C deduction as per Income Tax Act

Deduction of Interest on Housing Loan in case of co-ownership : IF home loan is taken for the purpose of purchase, construction, repair, renewal or reconstruction, interest there on is allowed on accrual Read more [...]

Section 80TTA & 80TTB-How to earn tax free interest

May 1, 2021May 1, 2021 CA. Kalpesh Karia

https://financefriend.in/ Karia CA. Kalpesh

It is very heart breaking when we are not able to get full return on our investment. Yes, we are discussing about earning interest income. This article will provide information regarding How to earn tax Read more […]