Riding on a buoyant economy and making the most out of it with respect to direct taxes, the revenue department may consider reviewing direct tax rates and structures (income tax slabs) in the coming annual budget. This move comes as an aftermath of a 45% growth rate in direct tax revenues due to tax administration [...]
When cost of living skyrockets, smart ways to plan one’s pay packet to reduce his tax outgo and maximize his take home salary becomes relevant. Companies also realize the need to have a tax-friendly pay packet to help their employees get the better of their salary.
30 tax-smart ways to plan your pay packet could help [...]
Investing in real-estate, or more specifically, on a house or flat, is something that interests the salaried class very much. Though the scenario appears bleak due to the recent CRR and Repo rate hike by RBI (which could lead to an increase in home loan rates), buying a real-estate is something that is still worth [...]
In a landmark ruling, the Supreme Court has said that employers are not under any statutory obligation to collect supporting evidence and furnish it to tax authorities while assessing Conveyance and Leave Travel Allowance (LTA) of their employees. Currently, claims without supporting bills are taxed.
The verdict came as a result of a plea from companies [...]
The balance sheet is one of the key financial statements of a company and is of particular interest to an existing or prospective shareholder of the company. Here’s an article from Rediff, which explains how to read a balance sheet.
Similar to balance sheet, cash flow statement is another key financial statement of a company and [...]