Wednesday, August 23, 2017

Deductions

  DEDUCTIONS Section Nature of deduction Who can claim (1) (2) (3) Against 'salaries' 16(ii) Entertainment allowance Government employees 16(iii) Employment tax Salaried assessees Against 'income from house properties' 23(1), first proviso Taxes levied by local authority and borne by owner if paid in relevant previous...

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Income Tax FAQ’s – Part 2

Basic faq's everyone should know :- Article continued from Part 1 ( http://tax.in/income-tax-faqs-part-1/ ) Income-tax is levied on the income of every person. As per Income-tax...

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