What is DTAA (Double Taxation Avoidance Agreement)
It is quite often that people from one nation travels abroad to work and earn good amount of income. However, travelling to foreign countries and earning there gets them into certain tax compliances. Indian provisions of income tax also include NRIs and people earning...All about set off and carry forward of losses
There are certain transactions where profits and losses occur during the process. Profits however are taxable in the eyes of Income tax but losses provide certain benefits to the assessees. These benefits are available to individuals as well as businesses. Set off is...
HRA Calculation and exemptions
House rent allowance (HRA) is a component of salary provided by employer to his employee, keeping in mind that employee has to bear cost of rental expenses. Salaried individuals who live in a rented house can claim this exemption and save their taxes. Taxability of...How to calculate income tax on salary?
Majority population of our country is the hardworking class of people who are under employment of some or the other organisation. They render their services to their employers in return for a consideration in the form of salary. There exists a formal employer employee...
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