One Computation of Taxable Salary and allowances, Deduction for Interest on Housing Loan and Deduction u/s 80C. Mr. X, a Central Govt. Officers in Delhi, is receiving Basic Pay Rs.40,000, DA at prescribed rates, transport allowances @ Rs.3600+DA thereon, and HRA (existing- from 1st July 2017 @24% of basic pay (though living in his own […]
Calculation of Income Tax – Above The Age Of 80 Years
Calculation of Income Tax – Above The Age Of 80 Years For Assessment Year 2018-19 A.Calculation of Income tax in the case of a retired employee above the age of 80 years and having gross pension of: i. 5,00,000/-, ii. 8,00,000/- , iii.12,50,000/-. B .What will be the amount of TDS in case of above employees, if […]
Calculation of Income tax – Retired employee above the age of sixty years but below the age of 80 years
Calculation of Income tax – Retired employee above the age of sixty years but below the age of 80 years For Assessment Year 2018-19 A. Calculation of Income tax in the case of a retired employee above the age of sixty years but below the age of 80 years and having gross pension of: iv. 4,50,000/-, v. […]
Calculation Of Tax – House Building Loan
Calculation Of Tax House Building Loan Example 6 For Assessment Year 2018-19 Illustrating Valuation of perquisite and calculation of tax in the case of an employee below the age of 60 years of a Private Company posted at Delhi and repaying House Building Loan ( With valid PAN furnished to employer). S.No. Particulars Rupees […]
Interest, Penalty & Prosecution for Failure to Deposit Tax Deducted
4.5 Interest, Penalty & Prosecution for Failure to Deposit Tax Deducted: 4.5.1 If a person fails to deduct the whole or any part of the tax at source, or, after deducting, fails to pay the whole or any part of the tax to the credit of the Central Government within the prescribed time, he shall […]