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| Home » Income Tax Solution » Salary |
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SALARY |
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| Standard Deduction: No Std. Deduction shall be allowed from Ass. Year 2006-07 |
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| Transport Allowance: Rs. 800/- p.m. |
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House Rent Allowance: Least of the following is exempt from tax
i) 50% of (Salary + DA) for metro / 40% of salary for other cities
ii) HRA received
iii) Rent paid - 10% of salary |
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Valuation of unfurnished rent free accommodation: [ Rule - 3(1)] for private sector employee.
Population exceeding 25 Lac - 15% of salary (Basic + DA + Bonus + all taxable allowance)
Population exceeding 10 Lac but less than 25 Lac - 10% of salary (Basic + DA + Bonus + all taxable allowance)
any other - 7.5% of salary (Basic + DA + Bonus + all taxable allowance) |
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| e-Accounting Brings Global Opportunities. |
| 4th July, 2009 |
| EAccounting has visited India with a rainbow of opportunities. It is high time the Chartered
Accountants in India look beyond
the Indian clientele, as the entire
globe lies before them to be conquered. |
| Read more » |
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| Shortage of Accountants. |
| 21st September, 2007 |
| A report by Pune-based Value Notes, estimates that as many as 360,000 US tax returns were
prepared in India in 2006. It anticipates further growth, estimating at least 1.6 million returns will
be prepared here in 2011. |
| Read more » |
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| Outsourcing Benefits US workers. |
| 22nd August, 2009 |
| Outsourcing is a dirty word. In the US, outsourcing means firing full-time workers and
shipping their jobs to a less developed country where wages are lower and labor laws are more
lax. |
| Read more » |
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Tax Events Calendar |
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Bhavishya Kiran Educational Trust |
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