We are discussing here all concepts related to House Rent Allowance Exemption. As we know owing a home is a dream of every salary earning individual. It takes a lot of time and efforts to fulfill this dream. The best part of owning a home is not to … [Read more...]
TAX TREATMENT OF ACCOMMODATION FACILITY PROVIDED BY THE EMPLOYER
With booming salary packages, Indian corporate have also started proving accommodation facility to their top level executives. It is a perquisites as per Income Tax Act, 1961. Let us understand the tax of it. Relevant terms: a. Accommodation … [Read more...]
Tax Treatment Relating To Provident Funds
There are various types of provident funds. Based on their types, the tax treatment differs for each fund. I have explained the each provident fund treatment in below table Particulars Statutory PF Recognized PF Unrecognized … [Read more...]
LEAVE ENCASHMENT TAXABILITY
Have you taken all leaves from your Leave Bank ? or Have some leave left in your account ? if so then why dont you encash them according to your leave policy. Leave Encashment is another way of motivating employees to take less leave and work more. … [Read more...]
Employee stock option scheme
EMPLOYEE STOCK OPTION SCHEME employer stock option means any specified securities or sweat equity shares , allotted or transferred by the present or former employer ,to the employee, directly or indirectly, either free of cost or at a … [Read more...]
Leave Travel Allowance – TAXABILITY
LEAVE TRAVEL ALLOWANCE [ SEC-10(5)] MEANING : LTA may be provided by the employer to the employee and his family- In connection with his proceeding on leave to any place in India, while in service. proceeding to any place in India … [Read more...]