Tag Archives: #TaxableCompensation

How to tax planning for salary

Tax Planning for Salary   Tax planning for salary earners involves various strategies to optimize your tax liability. Here are some tips to consider: 1. Understand your tax brackets: Familiarize yourself with the income tax brackets and rates applicable to your salary. This will help you determine the optimal allocation of your income to different… Read More »

What is Section 40B of income tax?

Section 40B

Section 40B     The conditions are as follows: 1.The payment of remuneration should be authorize by the partnership deed or agreement. 2. The remuneration provided should be reasonable in relation to the profits generated by the firm. It should be specifically directed towards a working partner 3. who actively participates in the firm’s business… Read More »