Category Archives: Direct Tax

Section 44AD

Posted on May 4, 2012 by Naveen Khulve

Brief on Section 44AD (Special Provision for Computing Profits and Gains of Business on Presumptive Basis) Eligible Assessee for Section 44AD: Individual, HUF, Resident Partnership firm but not LLP. Further provided that assessee mentioned does not claim deduction under any … Continue reading →

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e-payment of Tax

Posted on April 14, 2012 by Naveen Khulve

Hello Friends Here I am sharing link for e-payment of Tax. https://onlineservices.tin.nsdl.com/etaxnew/tdsnontds.jsp  

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Circular on Issuance of TDS Certificates in Form No. 16A

Posted on April 12, 2012 by Naveen Khulve

The CBDT has issued an important circular [CIRCULAR NO. 01/2012 [F.No. 276/34/2011-IT(B)], DATED 9-4-2012] regarding issuance of TDS certificate in Form 16A in respect of all sums deducted on or after 01-04-2012. As per this circular:- 1) All deductors shall … Continue reading →

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Last date of TDS Deposit for the month of March’2012

Posted on April 2, 2012 by Naveen Khulve

Hello Friends Please discuss whether my interpretation of below mentioned notification is correct or not. As all of us know that last date of TDS deposit for the month of March’2012 is 30th April 2012. However still there is a … Continue reading →

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Tax Exemption on Home Loan and HRA

Posted on March 21, 2012 by Naveen Khulve

Hello friends as financial year 2011-12 is going to end so salaried employees covered under tax bracket is looking for the areas and the ways regarding how they can reduce their tax liabilities. One of the points at which salaried … Continue reading →

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Highlights of Report of Standing Committee on finance on DTC bill, 2010

Posted on March 10, 2012 by Naveen Khulve

Hello Friends Here I am sharing the Highlights of Report of Standing Committee on finance on DTC bill, 2010 presented to speaker on 09.03.2012. Following is the Recommended revised tax slabs for personal income-tax:-     Wealth Tax: – Wealth … Continue reading →

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Taxable value of Perquisite (In case of Car Facility)

Posted on February 1, 2012 by naveen

If an employee is getting perquisite in form of car facility then he is required to pay tax on it provided that he is a specified employee. An employee is said to be a specified employee if he is director … Continue reading →

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HRA Exemption Calculator

Posted on January 2, 2012 by Naveen Khulve

In case you are a salaried employee and getting HRA from your employer then you can claim HRA exemption under income tax act. If you want to calculate the exempt amount of HRA received by you under section 10(13), then … Continue reading →

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HRA Exemption

Posted on December 29, 2011 by Naveen Khulve

There is a slight change in the Payroll documentation regarding the Calculation of House Rent Allowance Under Income Tax Act. According to the Circular 05/2011 dated 16.08.2011 of the Income Tax Act: 1. If the annual rent paid by the … Continue reading →

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Form 15CA and 15CB

Posted on December 26, 2011 by Naveen Khulve

Form 15CA is used for furnishing information of remittances in e-mode as required by the provision of Income Tax Act, 1961. Information which is required to furnish in Form 15CA is obtained from form 15CB which is a certificate from … Continue reading →

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