Deductions are those expenses that are allowed to be deducted from the total taxable income of the assesse and thus reduce the tax amount. All the provisions and rules regarding deductions are covered by Chapter VIA of the Income Tax Act, 1961. These deductions are of different types some are allowed on investing the income […]
Tag Archives: Deduction on Rent
20
Jul
Jul
Introduction Director’s remuneration means the fees or salary or compensation drawn by the director from a company in which he is the director for the services rendered in managing the day to day affairs of the company. The question has always been raised whether this remuneration attracts GST or not. However, CBIC vide circular no. […]
16
Jul
Jul
Generally, Employers give an allowance for house rent as part of the salary paid known as House Rent Allowance or HRA which can be claimed as deduction by the employees for the rent paid by them. However, sometimes the employer pays the entire salary as basic salary without any bifurcation or in cases where the […]
