Post or Posting wise specific Deductions allowed to Salaried Person in Financial Year 2018–19 from their Salary Income under Income Tax. Section wise deduction limit is given in the following Table. Section Nature of Deductions Amount of Deduction 10(7) Foreign allowances or perquisites…
Author: commerceclub
Deductions a Salaried Person can claim in Financial Year 2018–19 from their Salary Income under Income Tax
Following Deductions a Salaried Person is eligible to claim in Financial Year 2018–19 (Assessment Year 2019–20) All Salaried person is eligible for a Standard deduction of Rs. 40,000/- . In addition to that a salaried person is eligible for following…
Rates of Depreciation as Per Companies Act 2013
Depreciation under companies act to be calculated based on the useful life of any assets. Companies act 2013 has prescribed the useful life of any asset. 1. Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life.…
Depreciation Rate as per Income tax for Financial Year 2018–19
Depreciation Rate as per Income tax for Financial Year 2018–19 Block of assets Depreciation Rate for AY 2006-07 to AY 2017–18 Depreciation Rate for AY 2018–19 onwards TANGIBLE ASSETS I. BUILDING (1) Buildings which are used mainly…
Cost Inflation Index for Calculation of Capital Gain
Cost Inflation Index For Calculation Of Capital Gain As per Notification no. So 1790(e) [no. 44/2017 (f. No. 370142/11/2017-tpl)], dated 5–6‑2017, following table should be used for the Cost Inflation Index :- Sl. No. Financial Year Cost Inflation Index 1 2001-02 100 2 2002-03 105 3 …
TDS Rate Chart for Company for Financial Year 2018–19 (AY 2019–20)
TDS Rate Chart for Company for Financial year 2018–19 (AY 2018–19) In the case of a company- where the company is a domestic company- Section 193: Interest on securities a) any debentures or securities for money issued by or…
TDS Rate Chart for Financial Year 2018–19 (AY 2019–20) By a person Other Than Company
Particulars TDS Rates (in %) 1. In the case of a person other than a company 1.1 where the person is resident in India- Section 192: Payment of salary Normal Slab Rate Section 192A: Payment of accumulated balance of provident fund which is taxable…
Income Tax Slab For Individual for Last 20 Years From AY 2001–2002 to AY 2019–2020
Income Tax Rates or Slabs for Last 20 Year i.e. assessment Year 2001–2002 to Assessment Year 2019–2020 Income Tax Rates / Slabs for AY 2001-02 Slab (Rs) Tax Rate (Rs) Surcharge Total Income>Rs. 60,000 Surcharge Total Income>Rs. 1,50,000 Less than 50,000…
Documents Required for registration of Society in West Bengal
Eligibility Criteria: Applicant should be a resident of West Bengal and a member of constituting society. Documents Required: Photo Identity Proof for 1st Governing Body Members (all) Ownership Proof for Private cases. NOC (in the form of affidavit, in case of…
Advance Ruling- What should be the rate of GST on works contract for constructing a civil structure for a Govt entity
Following Advance rulling passed by the WEST BENGAL AUTHORITY FOR ADVANCE RULING GOODS AND SERVICE TAX in the case of ITD Cementation India Ltd on 08.01.2019 1.The Applicant is stated to be supplying works contract service. He has entered into an agreement with Inland Waterways Authority of India (hereinafter the IWAI)…