How standard deduction ₹ 40000 benefit salaried individual?

By | 07/08/2018

The standard deduction is reintroduced in budget 2018, the purpose is to replace the medical allowance and traveling allowance for the salaried. The standard deduction for salaried individual is effected from 1st April 2019. What is the standard deduction? Earlier the transportation allowance and medical allowance which were allowed to the employee for that they have to… Read More »

Section 80D Income tax Act – Tax benefit for (Health, Medical Treatment)

By | 07/03/2018

Deduction under section 80D is another option for the taxpayers to claim from his total income. The taxpayer is eligible is take benefit of deduction under Section 80D of the Income Tax Act. Section 80D talks about health insurance premium and checkup expenditure,  if you have incurred expenses towards medical insurance or medical checkup, then you can avail… Read More »

What is Fees u/s 234F? (Penalty for Late Filing Income Tax Return)

By | 06/16/2018

Better be aware of filling income tax return on time, Income tax penalty under section 234F is introduced from the financial year 2017-2018. In this article, we understand the consequences and impact of filling late income tax return. Although filling income tax is not a big deal: Also Read: Tax deduction u/s “80G” of Income Tax Act (relief on… Read More »

Tax deduction u/s “80G” of Income Tax Act (relief on charity)

By | 06/13/2018

“80G” of the income tax act is the vast topic, this article reveals the facts on Tax deduction donation under section 80G made to certain charitable institutions under section 80G. Charity is treated as humanity towards society, a help for poor, that’s why Government provide a relief u/s 80G to encourage people for the better India. In some cases, charity… Read More »

5 Small business money mistakes

By | 06/10/2018

When you talk about business it’s about the budget and managing your money. Not every business is to their mark. Over large percentage of business owner make a variety of money mistakes. Small business money mistakes Keeping your small business in good condition you must keep accounting & books properly, marketing strategy, client satisfaction. You must… Read More »