If the Maharashtra state Government has its way, one will have to pay more property tax, on account of a cess that the Government plans to levy on property tax in addition to the existing ones pertaining to trees, education and repairs. The urban development (UD) department has proposed a 0.5% cess on the general [...]
HRA is exempt to certain extent under income tax law. Both for employee and employer , the computation of exemption out of HRA is an annual ritual. However , computation of exemption out of HRA is a bit tedious . For example , the computation is based on population of city in which employee has taken house on rent. For [...]
Are you resident or non resident? Here is a calculator for checking your residential status. I shall be improving upon this calculator and any suggestion in this reagrd is welcome. Following points need attention before you use this calculator : Fill up yellow cells. Only first four digits of the financial year should be written. [...]
Computing tax relief from double taxation of same income is provided u/s 91 of the Income Tax Act for those countries with which India has no DTAA (Double Taxation Avoidance Agreement ) . It should be noted that for countries with which India has DTAA , the tax rate given as per Double Taxation Avoidance...