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Introduction Where Compensation is received at the time of voluntary retirement or in case of separation, the income received as compensation is exempt from tax if the following conditions are satisfied- Compensation is required to be received on voluntary retirement or voluntary separation. Compensation is received by an employee from the following undertakings- an authority
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Are you looking to expand your company into the global market but unsure of how to navigate it? In this article, we’ll discuss how outsourcing the payroll services can allow US companies to take advantage of international opportunities and why they are so important for growth! IntroductionAs the world becomes increasingly connected, more and more
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Recently, the government notified the income tax return (ITR) forms for financial year (FY) 2018-19. The year following the financial year in which income earned by a person is assessed is referred as assessment year (AY). This is the year in which you file your ITR for the financial year gone by. For instance, for
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In recent months, the tax department has stepped up efforts to ensure tax compliance. New rules have been introduced to plug tax leaks and officials are cracking down on evasion. Tax records are being put under the scanner and notices are being sent to individuals if the computer-aided selection system notices a discrepancy. Thousands of
Learn MoreThere has been a change in the way Income Tax Department (ITD) is processing the income tax returns (ITR) for financial year 2016-17. This has led to Intimation u/s 143(1)(a) being issued to a lot of taxpayers with even the slightest discrepancy in their return. How returns were processed till 2016: Only tax details declared
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