Tax Articles

Are you taking home ₹1-2 lakhs salary every month but feeling confused about how much the tax department will claim? You’re not alone. Tax rules in India can be tricky to understand, especially when you earn a good salary plus...

Taxes on high incomes in India can be complex due to progressive tax rates, surcharges, and multiple tax regimes. Whether you’re calculating a 2 crore tax in India, a tax on 5 crore in India, or even a tax on...

Once you cross the ₹30 lakh salary mark, your paycheque starts looking serious - but so does your tax liability. What looks like a ₹30 lakh income on paper isn’t what hits your bank account. Between deductions, cess, and changing...

If you earn a salary between ₹40 lakh to ₹60 lakh annually, then you are among some of the highest earners in India. But with higher earnings comes higher tax liability. And how much you pay can vary greatly depending...

Form 12BA applies to perquisites that an employee receives as a benefit or reimbursement for benefits. These benefits are over and above the Employee's salary. Form 12BA income tax applies to such additional benefits, perks or fringe benefits. Form 12BA...

During Budget 2020, the finance minister, Nirmala Sitharaman, recommended the addition of Section 194K to the Finance Act. This clause allows any resident individual to deduct the amount paid on mutual fund units, up to a certain limit. What is...

What is Section 112A? Section 112A provides for long term capital gains on the sale of listed equity shares, equity-oriented mutual funds, and the units of a business trust. The said section was introduced in Budget 2018 after the removal...

Every employee receives certain types of leaves throughout the year till they are in a company. Popular types of leaves are sick leaves, casual leaves, ordinary leaves, maternity leaves, earned leaves and others. You can carry forward some of these...