Articles

As you all know, from FY 2020-21, Govt provides 2 income tax option to the salaried individuals, an old tax regime under which one...

Section Nature of deduction Who can claim (1) (2) (3) Against ‘salaries’ 16(ia) Standard Deduction Individual – Salaried Employee & Pensioners 16(ii) Entertainment allowance Government employees 16(iii) Employment tax Salaried assessees Against ‘income from house properties 23(1), first...

Portuguese Civil Code in Income Tax The Portuguese Civil Code deals in the apportionment of income between spouses. The Portuguese Civil Code is applicable only...