IT Act

How to save taxes legally

How to save taxes legally

At the end of each financial year, an assesse finds himself with huge taxes on taxable income and make tax investments in a hurry. However, if an individual from the very beginning goes ahead with proper planning and knowledge he can feel relaxed at the end. The Income Tax Act, 1961 provides provisions for reducing… Read More

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Case Laws :: Sec 192 explains TDS obligation on Medical Reimbursement & LTC components of a CTC of an employee

CLR Editorial Notes: In this case related to TDS and LTC of an employee, it was noticed that the assessee (in this case - Infosys BPO, Bangalore) had recruited employees under a contract of employment which provided the salary as a ˜cost to company™ or ˜CTC™. Once the employee had determined the CTC, he/she was permitted… Read More

Tags: BangaloreBusinessCommissioner of ITCommonwealth Law ReportsIncome taxIT ActLeave Travel AllowanceLTCPaymentSalarySection 192 of the IT ActTax Deducted at SourceTDS

Rules reg. Exemption from Liability for Hosting Third Party Information

Exemption from Liability for Hosting Third Party Information: Diligence to be Observed under Intermediary Guidelines Rules The attention of Government has been drawn to news items in a section of media on certain aspects of the Rules notified under Section 79 pertaining to liability of intermediaries under the Information Technology Act, 2000. These items have… Read More

Tags: Information Technology ActIntermediary GuidelinesIT Act

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