TDS on Salary – Circular for FY 2014-15
The Income Tax Department has issued the “TDS on Salary” circular for FY 2014-15. http://www.incometaxindia.gov.in/communications/circular/circular17_2014.pdf Please ensure that all tasks...
Read moreIs the Professional Tax Levied by Some Authorities Unconstitutional?
Article 276(2) of the Constitution of India, which empowers state government authorities to levy Professional Tax (PT), restricts levy of...
Read moreTax Benefit on Housing Loan Interest – Is it Rs 30,000 or Rs 200,000?
What is the maximum deduction available for the interest payment on a housing loan for a self-occupied house property (as...
Read moreCapital Gains – Housing Loan Interest as a Cost of Acquisition
While calculating capital gains tax on sale of a house property, can we consider the housing loan interest as a...
Read moreAbout Professional Tax
Professional Tax (also referred to as Profession Tax) is a tax on income levied by state government authorities in India....
Read morePF – Wage Ceiling Enhancement to Rs 15,000 Effective 01-Sep-2014
The Provident Fund (PF) department, in its circular dated 28-Aug-2014, has notified the wage ceiling enhancement to Rs 15,000 per...
Read moreHigh Risk Investment Declarations
Organizations typically accept investment declarations (for tax saving) from employees at the beginning of a tax year and expect employees...
Read moreBudget FY 2014-15 – Tax on Salary
As you are aware, the Union Budget for FY 2014-15 was tabled in the Parliament by the Finance Minister of...
Read moreMaharashtra Profession Tax Revision – July 2014
The Government of Maharashtra has introduced changes to Profession Tax rates effective 01-July-2014. The revised tax slabs for salaried employees...
Read moreCompany Tax remittance in Chennai
In addition to remitting Profession tax (PT), companies – conducting business transactions in Chennai – need to pay what is...
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