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
Tax treatment relating to provident funds particulars Statutory PF Recognized PF Unrecognized PF PPF Constituted under Provident funds act ,1925 EPF and Misc. provision act,1952 7 recognised by commissioner of PF and CIT Not … [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...]