Tax

Grossing up of Interest: Interest taxable under this head must be gross receipt and not the net receipt. Thus net interest when receive from fewer…

Bond Washing: This term is referred to a type of transaction of securities where tax avoidance is aimed at. It is sometimes seen that securities…

Interest on Securities: Interest on securities can be defined as the sum of interest paid or payable for securities issued by Government organizations or securities…

Allowable Deductions from Interest received on Securities Interest on securities can be defined as the sum of interest paid or payable for securities issued by…

Perquisites are incidental payment, benefit, privilege, or advantage over and above regular income, salary, or wages. Any payment made to an employee by an employer…

Perquisites are incidental payment, benefit, privilege, or advantage over and above regular income, salary, or wages. Any payment made to an employee by an employer…

The annual value of the house refers to the gross rental income from the house property in particular income year. It is the amount for…

Main Features of Recognized Provident Fund Provident fund is one of the many benefits which any employees of any firm enjoy. It is a compulsory,…

The word “taxation” comes from Latin word “Taxio”. It means to determine the payable quantum on the estimate. So, a tax is the revenue collected…

In general, salary means any payment received by an employee for physical and mental work from the employer for a definite time or work. It…