| 89(1) relief calculator arrears received in Fy 2010-11 Posted: 22 Aug 2010 05:29 AM PDT 
In current year(FY 2010-11) arrears of salary has been paid to many Bank and Govt. employees.This years is related to Fy year 2005-06 to Fy 2009-10.As per Income Tax act,Employee can claim relief u/s 89(1) relief for arrears of salary ,by bifurcate his/her income in the respective years for which income relates to. Calculation of89(1) is arithmetic only but yet its calculation is difficult for many assessee due to not availability of Old tax rates etc etc.so I have prepared a 89(1) relief tax... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| Thefts with cloned ATM cards on the rise Posted: 22 Aug 2010 05:09 AM PDT 
Cases of fraudulent withdrawal of money with cloned ATM cards are on the rise with more and more people being caught unawares by secret depreciation of savings from their bank accounts. At least five such cases of unlawful withdrawal of lakhs of rupees with the help of duplicate ATM cards from various cash dispensing machines across the city have come to light in the past few days. According to police, such withdrawals were made when ATM cards were with the respective account holders. The... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| SEBI, MFs WANT TAX BENEFIT FOR EQUITY-LINKED SCHEMES IN DTC Posted: 22 Aug 2010 12:54 AM PDT 
Market regulator Sebi and mutual fund houses have asked the finance ministry to continue with the tax benefits on equity linked schemes in the Direct Taxes Code, which will replace the existing Income Tax Act. The revised DTC draft, based on which the government is finalising the bill, has proposed to do away with the tax benefits available to people investing in the equity-linked savings schemes (ELSS). Under the IT Act, investments up to Rs one lakh in the ELSS and dividends accrued on them... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| income tax rate will go down in Direct Tax code :CBDT Chief Posted: 22 Aug 2010 12:46 AM PDT 
Income-tax rates could be reduced in the proposed Bill for new Direct Taxes Code (DTC). The revised discussion paper on DTC had relaxed many of the key proposals of the original draft, leaving taxpayers to infer that the rates would not go down. However, the Central Board of Direct Taxes (CBDT) Chairman, Mr S. S. N. Moorthy, today sought to allay such apprehensions by indicating that rates could be reduced even at this stage. While releasing the revised discussion paper in June 2010, the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
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