INCOME FROM SALARY INCOME CALCULATION

  1. How to calculate Income Tax /TDS on salary a complete guide Fy 2012-13 (CIRCULAR NO. 08/2012 dated 05.1.2012)
  2. Taxable and non taxable allowance
    1. List of taxable and Non taxable allowance
    2. Calculator for House rent allowance exemption.
    3. Leave travel allowance/assistance/concession exemption(LTC/LTA)
    4. HRA & House loan both can be claimed at the same time
  3. Valuation of perquisites
    1. Valuation of perquisites New rule as on 18.12.2009
    2. Valuation of Motor car perquisites
    3. Valuation of concessional loan Interest 
    4. Valuation of rent free House accommodation Furnished /unfurnished
    5. Valuation of Medical reimbursement facility
    6. Pick up & drop facility from home to office and Back
    7. Petrol reimbursement charges valuation.
    8. Inequity in new valuation rules 
    9. Tax paid on perquisites u/s 192(1A) tax treatment and etds return
  4. Leave salary exemption calculation
  5. Deduction of profession tax .
    1. Deduction of profession tax under section 16(iii)
  6. Deduction Available to Individuals 
    1. Deduction under section 80 C
      1. savings in whose name can be done
      2. Life Insurance Policy
        1. Life Insurance premium on wife policy
        2. Life insurance FAQ
        3. Life Insurance Policy new Direct tax Code
        4. ULIP(lint linked insurance Plan )
      3. Mutual Funds 
        1. Why should Invest in Mutual funds
        2. Mutual fund Faq
        3. Mutual Funds Your rights
        4. How to invest In Mutual funds.
        5. How Much You should Invest in Mutual funds
        6. Types of Mutual funds
      4. Tuition fees
      5. house loan and section 80C
      6. 80 C benefit is to be reversed if House sold before 5 years 
    2. Deduction for rajiv gandhi equity saving scheme 80CCG
    3. Deduction under section 80D
    4. Deduction for preventive health check up
    5. Deduction u/s 80E Higer Education 
    6. Deduction under section 80GG (house rent paid where no hra received)
    7. Deduction u/s 80TTA (interest on saving bank account)
  7. Relief under section 89(1) salary in arrears received in 2012-13 and advance calculator.
  8. Form 16 & 16A rules and issue and forms in Excel
  9. Salary Allowances Tax issue -Direct Tax Code
  10. House Property Adjustment of Let Out House/Self occupied house is available while calculating TDS under section 192
    1. Income From salary E book for salary tax Fy 2010-11 (complete TDS circular 8/2010 with all details about tax rates deduction ,house property income )
    2. Income From salary E book for Fy 2011-12(complete TDS circular 1/2010 with all details about tax rates deduction ,house property income )
    3. Income Tax Calculator for Salaried Person Fy 2009-10

6 comments:

  1. Sir We are going to pay Rs 2000/employee on the occasion of Holi.My Question is whether we are required to deduct TDS On This Festival Incentive or Not?????

    ReplyDelete
    Replies

    1. It is taxable in employees hand , Now it a matter of convenience to deduct tax from 2000/- or salary from march ,2013. But it is to be added in taxable income of employee while finalising the tax for the year.

      Delete

  2. sir, my salary is 23500/- how much am eligible for house rent ?

    ReplyDelete
    Replies
    1. SRINIVASA RAO KOTA - VIJAYAWADAMay 17, 2013 at 8:30 PM

      HRA IS THE LEAST OF THE FOLLOWING

      1) 40% OF SALARY (SALARY MEANS BASCI SALARY + D.A. + BONUS + COMMISSION)50% OF SALARY IF HE IS RESIDENT OF MUMBAI,DELHI,CHENNAI,KOLKATA

      2)Excess of rent paid by the assessee over 10% of salary due to him
      3) ACTUAL HRA RECEIVED

      Delete

  3. I have a query regarding Medical Insurance premium paid through salary deduction can that be claimed as rebate u/s 80d?

    ReplyDelete

  4. I want to know about percentage of TDS

    ReplyDelete