Salary Income

9 Components of Salary Structure
The term ‘Salary’ signifies any consideration given to employee by his employer. Any income is known as Salary if relationship between Payer and Payee is of...
Mon, 4 Feb, 2019 at 5:39 PM
What is Form 16
FORM 16 is a TDS certificate provided by the employer. If your employer is deducting TDS from your salary, he is obligated to provide you a Form 16 as per t...
Thu, 27 Dec, 2018 at 5:10 PM
Multiple Form 16
How to file Tax Returns with Multiple Form 16 ? Where an employee has more than one Form 16, it is known as Multiple Form 16s. In such cases tax computat...
Thu, 27 Dec, 2018 at 5:43 PM
What is House Rent Allowance?
House Rent Allowance or HRA  is a component of the salary portion, which is provided by the employer to his/her employee. Employees or Salaried Individuals ...
Mon, 31 Dec, 2018 at 11:13 AM
What is Conveyance Allowance?
The employers offer many allowances to their employees. One of the allowance is given for conveyance. Conveyance Allowance also known as Transport Allowanc...
Mon, 4 Feb, 2019 at 5:35 PM
What is Leave Travel Allowance (LTA)?
The Leave Travel Allowance (LTA) is also known as Leave Travel Concession (LTC) which is an allowance given by the employers to their employees, which can b...
Wed, 9 Jan, 2019 at 4:33 PM
Can You Claim Both HRA And Home Loan For Tax Exemption?
Can You Claim Both HRA And Home Loan For Tax Exemption? Yes, you can claim tax exemption on both house rent allowance (HRA) and repayment of housing l...
Tue, 26 Feb, 2019 at 5:24 PM
What is Medical Reimbursement? What is the difference between Medical Reimbursement, Allowance and Mediclaim?
Medical Reimbursement, Medical Allowance and Mediclaim , all these sound similar but they all have different tax implications in Income Tax Act.   Medical...
Mon, 4 Feb, 2019 at 5:35 PM
Employee Provident Fund
Employee’s Provident Fund (EPF) is a retirement benefit scheme, which is available to all salaried individuals. Employee Provident Fund is maintained by the...
Sat, 29 Dec, 2018 at 5:38 PM
What is Professional Tax?
Professional Tax is a tax on employment, which is levied by a state. The amount of professional tax that can be levied by a state is maximum up to Rs 2,500....
Sat, 29 Dec, 2018 at 5:45 PM