Focus – Timeline – Perfection
+91-11-45540560

Archive for the Knowledge Sharing Category

House Rent Allowance Exemption

Computation of House Rent Allowance Exemption (HRA): House Rent Allowance Exemption (HRA) is taxable under the head “Income from Salaries”. It is taxable to the extent it is not covered with in the exemption. Least of the following 3 is exempt. Actual HRA received by the employee […]

Read more

Income Tax Rates for Financial Year 2012-13

Income Tax Rates for Financial Year 2012-13 (Assessment Year 2013-14) Income Tax Rate for Individuals, Hindu Undivided Family and AOP/BOI. (1). Individual (excluding senior citizens covered under clause 2 or 3), HUF & AOP/BOI. (Education Cess @ 2% and Secondary and Higher Education Cess (SHEC) @ 1% […]

Read more

Leave Encashment Exemption

Rules regarding Leave Encashment Exemption: Treatment of Leave Salary As per company policy, employees are entitled to accumulate certain types of unavailed leaves. In this post, we deal with Leave Encashment exemption limit in various scenarios. Leave Encashment during the period of service [Section 10(10AA)]: Fully Taxable […]

Read more

What is a Capital Asset for Income Tax purposes

What is a Capital Asset for Income Tax Purposes [Section 2(14)]? Capital Asset means property of any kind but excludes: Stock-in-trade: All goods and commodities help for commercial activities. Personal effects: Any article held for personal use by the tax-payer or any dependent family member. It includes […]

Read more

Understand your PAN

Understand your PAN: How much do you know about your PAN? Let’s understand few important things about PAN. What is PAN? PAN stand for Permanent Account Number. It is a 10 digit alphanumeric number. It is issued by Income Tax Department. Information on the PAN: Name. Date […]

Read more

What to do if the landlord doesn’t have PAN

What to do if the landlord does not have PAN? As per circular (Circular no. 08/2013, dated October 10, 2013) issued by CBDT, it is mandatory for the employee to provide the landlord’s Permanent Account Number (PAN) to the employer for claiming HRA exemption. However, this circular […]

Read more

Tax deduction for payment of school tuition fees

Tax deduction for payment of school tuition fees for children education u/s 80C: You can claim Income Tax deduction of Rs.1 Lac u/s 80 C for tuition fees paid for education of children. Eligibility: Available only to Individual assessee (HUF not allowed). Maximum number of children: Each […]

Read more

PAN required if annual rent paid exceeds Rs.100,000

PAN required if annual rent paid exceeds Rs.100,000: It is with reference to Section 10(13A) of the Indian Income Tax Act where salaried individual getting HRA is entitled for tax exemption, if house rent receipts are produced. If any employee pays monthly rent above Rs.8,333 per month […]

Read more

Save Tax: Rajiv Gandhi Equity Saving Scheme (RGESS)

Save Tax: Rajiv Gandhi Equity Saving Scheme (RGESS) – FY2012-13 Money Saved is money earned: Rajiv Gandhi Equity Saving Scheme (RGESS) U/s 80CCG can help an Individual to save Income tax. RGESS has been explained below: Eligibility: Individual’s investing in equity for first time and their Gross […]

Read more

Highlights of the Budget for the year 2013-14

Highlights of the Budget for the year 2013-14 are: Direct Tax: No change in personal Income tax rates and slabs. Relief has been provided to tax payers in the first bracket of Rs.2 Lac to Rs.5 Lac. Tax credit of Rs.2000 to every Individual with total Income […]

Read more

Upcoming MS Excel Trainings:

MS Excel Trainings for Corporates for all levels. Programs for Individuals on Dashboard and Advaanced Excel. Read more....

Address

F-268, Lane No. 21, Laxmi Nagar,
Delhi-110092, India
Call us: +91-9810409213, 011-45540560
Website: http://hetuhfinancial.com/
Email: contact@hetuhfinancial.com