Articles for Salary Income

D Gukesh to pay more income tax than MS Dhoni’s IPL salary; check how much youngest chess world champion will pay
Top News
1 week ago

D Gukesh to pay more income tax than MS Dhoni’s IPL salary; check how much youngest chess world champion will pay

Live Mint  

The crown of a world champion comes with a price. D Gukesh's triumph at the World Chess Championship 2024 recently in Singapore brings a heavy tax burden on the youngster as the 18th-year-old will approximately pay a tax of ₹4.67 crore - which is more than his idol MS Dhoni's current Indian Premier League salary at the Chennai Super Kings. …

Tax Gukesh Crore Champion D Gukesh Dhoni Approx
Income Tax Return Is Statutory Document, Holds Precedence Over Salary Certificate When Determining Compensation Under MV Act: Rajasthan HC
1 month, 1 week ago

Income Tax Return Is Statutory Document, Holds Precedence Over Salary Certificate When Determining Compensation Under MV Act: Rajasthan HC

Live Law  

Rajasthan High Court has affirmed that if there are two documents for ascertaining the income of the deceased including a salary certificate from his/her employer and his/her Income Tax Returns, the latter shall be considered by the Court since these are statutory documents signed by the deceased himself/herself. It was submitted that as per the salary certificate provided by the …

Salary Insurance Court Income Tribunal Itr Deceased
How to save 100% income tax? Karnataka man’s satirical video for salaried class is viral
4 months, 3 weeks ago

How to save 100% income tax? Karnataka man’s satirical video for salaried class is viral

Hindustan Times  

A Karnataka man’s satirical video on how to save income tax has gone viral online. Shrinidhi Hande's 'grass hack' for saving income tax is viral In his satire video, Hande explained how salaried professionals can save 100% income tax by selling grass to their employers. “In this video, I will tell you how to save 100 per cent on income …

Karnataka Video Tax Income Tax Income Instagram Grass
Cash Deposit In Bank Account Made Out Of Sale Proceeds Received In Cash If Duly Explained, Is Not Unexplained Credit: Delhi ITAT
10 months, 2 weeks ago

Cash Deposit In Bank Account Made Out Of Sale Proceeds Received In Cash If Duly Explained, Is Not Unexplained Credit: Delhi ITAT

Live Law  

Accepting the explanation given by the assessee that he had received cash on sale of property to be believable which was faithfully deposited in the bank account within a short period, the Delhi ITAT provided relief to the assessee against the order of assessment passed u/s 143 of the Income Tax Act, 1961. 29 lakhs in the bank account is …

Property Sale Bank Bench Account Deposit Itat
Are You Filing ITR AY24 For Salary Income? Here's All You Need To Know
1 year, 7 months ago

Are You Filing ITR AY24 For Salary Income? Here's All You Need To Know

News 18  

Online ITR For Salary Income: Even as the income tax department has enabled the online filing for ITR 1 and ITR 4, individuals can now start filing their income tax returns for the assessment year 2023-24 or the financial year 2022-23. Rebate: Resident individuals whose total income does not exceed the threshold limit of Rs 5,00,000 or Rs 7,00,000 can …

India Financial Tax Income Case Total Form
Don’t wait for January 2023, start your income tax planning right now with this checklist
2 years, 7 months ago

Don’t wait for January 2023, start your income tax planning right now with this checklist

Live Mint  

It's that part of the year where you get an email from your HR department for filing up the Income Tax Declaration in order for the company to decide the quantum of TDS to be deducted throughout the year. It covers following items: Contribution of Public Provident Fund Employee contribution to Employee Provident Fund Payment of Life Insurance Premium Equity …

Salary Income Emi Pan Rent Deduction Employer
Govt may hike OBC creamy layer slab
3 years, 5 months ago

Govt may hike OBC creamy layer slab

Live Mint  

NEW DELHI: The government is planning to raise the annual income ceiling for the so-called creamy layer among other backward classes from the current ₹8 lakh, potentially expanding the benefits of job and education reservations to more individuals. Currently, 27% of government jobs and seats in academic institutions are reserved for OBCs; however, those with annual family income above ₹8 …

Income Obc Threshold Creamy Layer Salary Income Karunanidhy
Federal Budget 2021: The salary you WANT to earn to rake in biggest tax return
3 years, 7 months ago

Federal Budget 2021: The salary you WANT to earn to rake in biggest tax return

Daily Mail  

The tax savings over a four year period can be revealed after Treasurer Josh Frydenberg handed down his budget on Tuesday evening Workers on a salary of about $90,000 stand to benefit the most from the Morrison government's tax cuts in terms of dollar figures. Middle income earners paid at about that level will receive $7,020 in tax relief in …

Tax Income Tax Relief Federal Earn Tax Cuts Australians
Income tax exemption to continue on salary income by NRIs in Gulf: Sitharaman
3 years, 8 months ago

Income tax exemption to continue on salary income by NRIs in Gulf: Sitharaman

Live Mint  

Salary income earned by non-resident Indians in Gulf countries would continue to be exempt from tax in India, said Union Finance Minister Nirmala Sitharaman on Thursday. Union Finance Minister Nirmala Sitharaman clarified that the Act has not brought in any new or additional tax on Indian workers in Saudi/UAE/Oman/Qatar. In n string of tweets, Sitharaman said:"This amendment has not altered …

Income Gulf Nirmala Sitharaman Gulf Countries Tax Act Indian Workers Salary Income
Salary Income of Indian Workers in Gulf Exempt from Income Tax, Says Nirmala Sitharaman
3 years, 8 months ago

Salary Income of Indian Workers in Gulf Exempt from Income Tax, Says Nirmala Sitharaman

News 18  

Finance Minister Nirmala Sitharaman on Thursday said salary income earned by non-resident Indians in Gulf countries would continue to be exempt from tax in India. Quoting a tweet of TMC MP Mahua Moitra, Sitharaman clarified that the Finance Act 2021 has not brought in any new or additional tax on Indian workers in Saudi/UAE/Oman/Qatar. The minister said the said amendment …

Finance Tax Indian Income Gulf Sitharaman Nirmala Sitharaman
NRIs are taxed on income earned in India
4 years, 2 months ago

NRIs are taxed on income earned in India

Live Mint  

I am planning to return to India after working in the UK for 10 years, and will be getting some retirement benefits. Non-resident Indians and resident but not ordinarily residents are only taxed on income earned, accrued or received in India. Also, income earned or received in India shall be taxable in India. This income for the services rendered by …

Tax Indian Nri Taxed Salary Income Resident India