Gratuity – Legal Provisions and Taxation

Job-hopping can increase your pay, but good old loyalty also has its perks. Stay on with your employer for five years or more, and you are entitled to gratuity when you resign, retire or are retrenched. Going by the book:- Gratuity is a reward for long and meritorious service.In 1972 the government passed the Payment … Read more

TDS Return due date extended in 4 States to 31.10.14

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE 17th October, 2014 Last date of filing of the TDS/TCS Statements for the 2nd Quarter of Financial year 2014-15 for the deductors/collectors in the States of Andhra Pradesh, Jammu & Kashmir, Odisha & Telangana extended.In view of the recent … Read more

Presumptive taxation U/s. 44AD, 44AE & 44AF with FAQs

Sections 44AD, 44AE and 44 AF cover special provisions of computing profits on a presumptive basis. All the schemes are optional at the discretion of the assessee. Conditions and manner of computation common to all three sections are given at the end after specific provisions applying to each section. A. Section 44AD – Presumptive computation of … Read more