Tax planning a honest way of seeking legal route to save tax , unlike tax evasion which involve twisting facts and creating unjustified legal colourable devices with sole motive to evade tax payments. A very recent judgment by Mumbai Tribunal has opened door for many non residents –individual and other entities – to plan their...
Is your tax saving products bought in FY 2010-11 good under DTC too !
February 23, 2011 by
Tax on investments is a major decision for any tax planner With the Direct Tax Code (DTC) to come into effect as soon as April 2012, it is necessary that individuals when selecting their tax saving instruments ensure that the same would be eligible for tax saving under the DTC too. Several financial products that till date...
Save tax on salary :Don’t pay Interest u/s 234B & 234C !!
January 19, 2011 by
Advance tax liability arises when a tax payer has the tax liability in any year exceeds Rs 10,000. Section 208 of the I T Act says advance tax shall be payable in every case where the amount of such tax payable is ten thousand rupees or more. Naturally, a salaried employee can , by the...
Can excess TDS on one employee be adjusted with other staffs liabilities?
January 2, 2011 by
TDS provision is really tedious. It happens that many times excess tax is deducted from one employee and deposited by employer. However , an employer is responsible for overall tds deposits , so it is but natural that the they want to adjust the excess tds deposited in case an employee with tds liability of...
Twenty Four Frequently Asked Questions On Employees Provident Fund (EPFO ) Answers For You!
June 30, 2010 by
These are the twenty four answers on FAQs given on EPFO site. Read and enrich yourself 1) Who will be covered by the Pension Scheme? Every member of the ceased Family Pension Scheme 1971 and anyone who joins any covered establishment on or after 16-11-95 is compulsorily to join this scheme, provided his/her salary/wage is...
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