GPF Manner of payment of amount in the fund Rule 34 The General Provident Fund (Central Services) Rules, 1960 RULE 34- MANNER OF PAYMENT OF AMOUNT IN THE FUND (1) When the amount standing to the credit of a subscriber in the Fund becomes payable, it shall be the duty of the Accounts Officer to […]
Superannuation
GPF Withdrawals from the fund Rule 15
GPF Withdrawals from the fund Rule 15 The General Provident Fund (Central Services) Rules, 1960 RULE 15-WITHDRAWALS FROM THE FUND 15. Withdrawals from the Fund (1) Subject to the conditions specified therein, withdrawals may be sanctioned by the authorities competent to sanction an advance for special reasons under sub-rule (2) of Rule 12, at any […]
Computation of Income under the Head “SALARIES”
5. COMPUTATION OF INCOME UNDER THE HEAD “SALARIES” 5.1 INCOME CHARGEABLE UNDER THE HEAD “SALARIES”: (1) The following income shall be chargeable to income-tax under the head “Salaries” : (a) any salary due from an employer or a former employer to an assessee in the previous year, whether paid or not; (b) any salary paid […]
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 […]
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 […]