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Income tax Exemption on Relocation allowance

Transfer of Employee from one location to another With the globalization and economic growth, business are continuously expanding into multi geographic locations. There is wider reach because of e-commerce connectivity, boom in technology and digitization. Employees working for a company from one location, have now multiple opportunities to work, grow and learn in different locations […]

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GST council meet today: decision on GST launch date?

The GST council is meeting today to resolve differences between centre and states over administration powers over GST registrants. The issues that will be take up relate to – Some states are seeking independent control over taxpayers with revenue under Rs 1.5crore And states asking for equal revenue sharing (between centre and state) for taxpayers […]

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Expectations from Budget 2017: A Promising Year for Fintech

2016 has been an eventful year for businesses. Demonetisation has posed a challenge for several traditional businesses. The government has given digital commerce a strong push. All businesses including agriculturalists are being brought into the mainstream economy. With this backdrop, 2017 is poised to be an exciting year for both taxation and the fintech space. […]

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Life Insurance Premium- Tax benefit on proceeds received on Maturity

Besides the benefit of securing one’s life by taking a life insurance policy, there are tax benefits & income tax exemption on the maturity amount received from the policy provided the premium paid to actual capital sum assured does not exceed the prescribed thresholds provided by Income Tax Act. Life insurance proceeds received on maturity […]

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Tax benefit to salaried employee when Car is provided by the employer

It is a common practice in MNCs & Private limited companies to provide Cars to its employees for discharging official duties. Above a pay-scale or Grade of the employee, many companies provide a car to the employee. These cars are taken on lease by the company & used by the employee both for official as […]

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Tax exemption on Employee benefits* provided by Employer

Medical Insurance Premium paid by employer on your behalf In case your employer is providing you benefit in regard to paying your medical premium on your behalf & the premium amount is getting deducted from your salary, the payment by employer in any mode other than cash should satisfy the requirements of Section 80D since […]

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Tax benefit to employee on Medical Reimbursement of up to Rs.15,000

A lot of health benefits have become available to employee these days & with stretched working hours, job stress & other genetical factors, medical expenses incurred on yourself, spouse or children have become very common. Medical Reimbursement is an arrangement under which employers reimburse the portion of the health expenses incurred by the employee. The […]

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