salary

Monetary obligations of the employee discharged by the employer is always considered as taxable perquisite in the hands of the employee. Monetary obligations are considered as perquisite for the assessee because it would have been payable by him if the employer would not have discharged his liabilities.Therefore, the value of perquisite as determined is taxable under the … [Read more...] about Tax on monetary obligations of employee discharged by employer

To understand whether salary paid abroad is taxable in India or abroad, we have to understand the place of accrual of salary. As per our tax laws, the place of accrual of salary is the place of employment.Section 9(1)(ii) states that salary earned for services rendered in India is deemed to accrue or arise in India even if it's paid outside India. Similarly pension paid … [Read more...] about Is salary paid abroad taxable in India and what are its exceptions

Certain employers in India offers low interest or interest free loans to their employees as a benefit. The value of the benefit resulting from concessional or interest free loan provided by the employer to the employee during the relevant previous year shall be considered as value of perquisite taxable in the hands of the employee.It will also be considered as perquisite … [Read more...] about Did you know interest free loan to employees is not tax free?

Filing income tax return can be a complex process if you do not understand the process and applicable tax laws. Therefore before filing your ITR, you need to make sure that all the documents are collected, relevant information is obtained and you know exactly how to process the ITR form.In this article we have listed 8 most important things that every taxpayer should … [Read more...] about 8 things salaried persons should know before filing tax return – ITR

Before getting into the steps of filing income tax return for a salaried individual, we want you to know the due dates of filing your tax return and late fee to be paid if its missed.IT return filing due date for a salaried person is 31st July of the following financial year to the relevant previous year for which ITR is to be filed. For the financial year 2018-19, due date … [Read more...] about 5 steps for salaried persons to file income tax return online