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Basics of income tax

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Basics of income tax

Submited by- Sitagita Team on 19 Jul, 2011    CAREER    WORKING WOMEN

The Indian Income Tax Act is probably the world`s most frequently amended one... of profession.Capital gainsIncome from other sources2. Income exempt from tax is reduced from other... income. The Act gives a long list of incomes, which are considered exempt from tax.3. Deductions.... There are various clauses, sub-clauses that are a maze in themselves, yet draw the thin line between a "tax... avoidance" and "tax evasion". What is an Assessment Year?It is the year in which Read More...

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Income tax- residence types

Submited by- Sitagita Team on 19 Jul, 2011    CAREER    WORKING WOMEN

The taxability of an income depends on the person`s residential status. To know the residential...;Ordinarily A Resident"Basic Conditionsa) Should have been in India for more than 182 days during the year ORb... basic conditions in nine out of ten preceding yearsANDb)The person should be present in India... satisfies one or more of the two Basic Conditions (above), but does not satisfy the two additional... not satisfy any of the basic conditions becomes a Non-Resident. Read More...

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Rates for income tax

Submited by- Sitagita Team on 19 Jul, 2011    CAREER    WORKING WOMEN

The rates of income tax applicable under the Finance Act, 1999 for the financial year 1999...-2000 i.e., assessment year 2000-2001 in the case of an individual are given below: Total Income Read More...

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Planning your income tax

Submited by- Sitagita Team on 19 Jul, 2011    CAREER    WORKING WOMEN

updates you have to keep in mind while saving your money. Income from dividends is fully exempt now.... All dividends from domestic companies are exempt from tax, irrespective of the amount... income.All expenses pertaining to the business, including the depreciation, will be deemed to have... of accounts and get them audited irrespective of the amount of his turnover.Tax rebates to senior... to a rebate Rs 10,000 from the amount of tax payable by him. This is in addition to the rebates available Read More...

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Who should file income tax?

Submited by- Sitagita Team on 19 Jul, 2011    CAREER    WORKING WOMEN

a return of income in Form No. 2C. This is a simple form meant for the use of persons not furnishing... return of income under sub-section (1) of section 139 and satisfying any one of the six conditions... a return of his income as required by the proviso to sub-section (1) of section 139, fails to furnish... October of the assessment yeariv. Where the total income includes income from business or profession Read More...

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NRI Tax

Submited by- Sitagita Team on 19 Jul, 2011    CAREER    WORKING WOMEN

Who is a resident of India?A person who meets either of the following Basic conditions... during seven years preceding the previous year.Resident Types and Tax Incidence..."Resident and Ordinarily Resident": The individual must satisfy any of the Basic conditions and both the Additional... conditions. His/her income accrued globally are taxable."Resident but NOT Ordinarily Resident...": The individual must satisfy either of the Basic conditions, but does not satisfy any of the Additional Read More...

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Basics of income tax:Forum Section

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Income tax for physically handicapped under section 80
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As per report, as many as 70 million people in India are disabled. However, many of these people are working. They are provided job opportunities by the government and are even given tax redemptions depending on the severity of the condition.  It is important that such people are given equal opportunities at education and jobs as any other nor... Read More...
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Reference the recent budget, can someone tell me what`s in it for women? Do they stand to gain in any way? I read something about the taxable limit for women being raised. Can anyone give me more details and explain what exactly it means? Read More...
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Basics of income tax:Blog Section

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worked in a BPO for over four years, I feel training is the most important part and is required not only... the largest volumes today and they end up spending a large amount on training. Some people feel... this is a waste and in stead the employees should be paid better, but I disagree.Training is not only... about work. What is more important is training employees in soft skills and personality development... the organizations goals with the personal ambition of the employee. I particularly enjoyed the training Read More...

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part time home base job

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to double up our income to meet his collage expenses.since i am having free time in the evenings i want Read More...

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I live in an area, wherein traffic problem seems to be spiralling. Umpteen number of petitions and requests put forth to the concerned authorities have been in vain. <br><br>However, I am able to find that such bottlenecks are in the rise only over the past decade, for before which, roads were pretty accommodative to both vehicles as well as pedestrians. The scenario now has changed... Read More...

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. The reason for their apprehension, Barack Obamas statement that he would stop tax sops to companies Read More...

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