How does a pay slip look like? Here is an example:
Simplifying Tax for C.A's and Taxpayers
ESOP: An Introduction
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
This year’s Earth Day (April 22, 2016) coincides with the ceremony of the signing of the Paris Agreement on Climate Change at the headquarters of the United Nations (UN) in New York
We all are hearing about “Paris Agreement” in the news. Let us understand what this is all about.
All you need to know about Employees’ Provident Fund
We know about the term “Employees ‘Provident Fund’ but only few of us are aware of its modus operandi. This article will try to provide an insight into the EPF and help you with any queries you may have about EPF.
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
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
New rule 29C Regarding Furnishing of Form 15G/15H w.e.f 01/10/2015
Income tax (14th amendment) Rules, 2015 vide notification no. S.O.2663 (E) dated 29/09/2015
Simplification of procedure for form 15G and 15H.No need to submit these forms to income tax department, procedure to be specified soon.
Cash Flow Statement as per New Companies Act, 2013
Is it mandatory to prepare and submit cash flow statement for unlisted public companies and private companies, whether small or midsized in nature?
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. If you are loking for claiming TSGLI, you can check them out from here!
Computation of income of business on presumptive basis under section 44AD of the Income tax act, 1961
For small taxpayers- declare income from business @8% or more of total gross receipts/turnover u/s 44AD and get relief from tedious task of maintenance of books of accounts and relaxation from tax audit under Income tax act, 1961