TDS on Income from Pension In the case of pensioners who receive their pension (not being family pension paid to a spouse) from a nationalized bank, the instructions contained in this circular shall apply in the same manner as they apply to salary-income. The deductions from the amount of pension under section 80C on account […]
Archives for July 2018
Income Tax – Deductions Under Chapter VI-A Of The Act
Deductions Under Chapter VI-A Of The Act In computing the taxable income of the employee, the following deductions under Chapter VI-A of the Act are to be allowed from his gross total income: Deduction in respect of Life insurance premia, deferred annuity, contributions to provident fund, subscription to certain equity shares or debentures, etc. (section […]
Vacating of CGHS Perambur Wellness Centre
Vacating of CGHS Perambur Wellness Centre CGHS Perambur Wellness Centre functioning at No.28 (New No.45) Perambur Hgh Road, Chennai – 600 012 will function at the following address with effect from 2nd April 2018. New Address: No.1, SRP Koil Street, Peravallur, Agaram Junction, Perambur, Chennai – 600 082 List of Wellness Centres in Chennai S.NO […]
Impossible for the government to Revert Back to Old Pension Scheme
Impossible for the government to Revert Back to Old Pension Scheme It is not possible for the government to revert back to old pension scheme – Minister replied in Parliament on 24.7.2018 Abolition of Contributory Pension Scheme Representations have been received from various Associations of Government Employees on the problems being faced and the demand […]
Deductions U/S 16 Of The Act From The Income From Salaries – F.Y 2017-18
5.4 DEDUCTIONS U/S 16 OF THE ACT FROM THE INCOME FROM SALARIES 5.4.1 Entertainment Allowance [Section 16(ii)]: A deduction is also allowed under section 16(ii) in respect of any allowance in the nature of an entertainment allowance specifically granted by an employer to the assessee, who is in receipt of a salary from the Government, a sum equal […]