Types of Product
Types of Consumer Products A consumer product is a product bought by final consumers for personal consumption. But not every…
Read BBA, BMS, B.Com Syllabus wise Notes
Types of Consumer Products A consumer product is a product bought by final consumers for personal consumption. But not every…
Foreign allowances Foreign allowances or perquisites paid or allowed by Government to its employees (an Indian citizen) posted outside India. Fully exempted. Allowances to…
“Perquisite” may be defined as any casual emolument or benefit attached to an office or position in addition to salary…
Transport Allowance Any amount paid to employee for expenses incurred on commuting between residence and place of duty Exemption: Rs.…
Provident fund is governed by the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (EPF & MP Act 1952). It…
Allowance is amount paid to employees as a part of salary or disbursement of expenses incurred during course of their…
The income chargeable under the head “Salaries” is computed after making the following deductions under Section 16: Standard Deduction Entertainment…
Gross Annual Value and Net Annual Value Gross Annual Value of a property is the value at which the property…
Basis of Charge [Section 22]: Income from house property shall be taxable under this head if following conditions are satisfied:…
Taxpayers should be aware that for every house property owned by them, income tax is payable on a yearly basis.…