ELSS mutual funds, Grow wealth which stands for Equity-linked Saving Schemes, are open-ended and equity-oriented investment vehicles known for their
Section 80u Deduction provides tax benefits for individuals experiencing disabilities, This article focuses on advantages offered under Section 80U.
Introduction: Upon filing an Income Tax Return (ITR), the tax department thoroughly reviews the submission and subsequently issues an intimation notice containing the taxpayer’s return details. In case of any discrepancies identified by the Assessing Officer, several options are available to rectify them: either agreeing with the demands of the IT department and making the […]
Professional tax, a state-level levy, is imposed by the state government on individuals and professionals exceeding income thresholds.
Section 87A of the Income Tax Act, stands as one such provision designed to assist taxpayers in reducing their income tax liability. .
Conveyance allowance, also referred to as transport allowance, is a benefit provided by companies to cover the commuting expenses of their employees
leave travel allowance is a tax-free benefit provided by employers to their employees as part of their salary package. this allowance covers expenses.
Introduction: Leave Encashment As per labor laws, each salaried employee is ensured a minimum annual allotment of paid leave hours. However, it’s not mandatory for an individual employee to exhaust all entitled leave hours within one year. Many organizations permit employees to carry over any unused paid leave time. When a person retired or left […]
Introduction: The Employee Provident Fund is a tax-saving plan in India designed to assist salaried individuals in saving for retirement through employer contributions. It offers a retirement benefit to salaried workers, ensuring financial security for daily expenses and maintaining their lifestyle even after retirement. Employee Provident Fund: The Employee Provident Fund is a savings scheme […]
Introduction: Public Provident Fund or is a widely used long-term, tax-efficient, government-backed savings scheme with many benefits. Public Provident Fund To encourage savings and provide financial security to individuals was the main objective behind the creation of this system. This system is ideal for investors who are risk-averse but want to see long-term financial growth. […]