Simplifying Tax for C.A's and Taxpayers

ESOP: An Introduction

ESOP: An Introduction

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Definition under Companies Act:

Sec 2(15A) defines employee stock option as

“option given to the whole time directors, officers or employees of a company which gives such directors, officers or employees, the benefits or right to purchase or subscribe at a future date, the securities offered by the company at a predetermined price.”

Above definition can be analyzed to conclude that ESOP involve granting some ownership stake in the company to employees (some or all)  in the form of options at reduced price than what prevails in the market. The personnel can exercise the options only after the vesting period elapses. Read More

Do declare your interest Income yourself

Do declare your interest Income yourself
  • “I do not want to declare interest as it will add to my tax liability.”
  • “ I believed that interest on saving bank account is tax free “
  • “My bank has not deducted TDS on this interest. I am not supposed to report this part of interest”

Wondering which category you belong to? Read More

Amendments in Sukanya Samriddhi Yojna

Amendments in Sukanya Samriddhi Yojna

Sukanya Samriddhi Account Yojana was launched By Prime Minister Narendra Modi on January 22, 2015 as a part of the Beti Bachao, Beti Padhao campaign. The purpose is to encourage parents to generate an investment pool for the future education and marriage expenses for their girl child. The scheme received a good acceptance in wake of the financial security and independence it would provide to the girl child as well as their parents and guardians. Read More

Deduction in Respect of Health Insurance Premia & Medical Expenditure

Deduction in Respect of Health Insurance Premia & Medical Expenditure

Deduction in respect of health insurance premia & medical expenditure under section 80D of the Income tax act, 1961

Provisions applicable for A.Y.2015-2016 and A.Y.2016-2017 for deduction from total income in respect of payment for medical insurance premia and preventive health checkup and medical expenditure under section 80D of the Income tax act, 1961

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