Category: Income Tax

Taxability of Perquisites Under Income Tax

Tax­a­bil­i­ty of Dif­fer­ent Perquisites paid to Employ­ees by Employ­ers in the hand of Employ­ee for the finan­cial year 2018–19 under Income Tax. Sec­tion wise details has been giv­en in tab­u­lar For­mat. 17(2)(i)/(ii) read with Rule 3(1) Rent free unfur­nished accom­mo­da­tion provided…

Post or Posting wise specific Deductions allowed to Salaried Person in Financial Year 2018–19 from their Salary Income under Income Tax

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…

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 …