Tag Archives: #Taxation101

Which allowances are taxable under the Income Tax rules of India?

   Introduction Allowances are additional financial benefits given by employers to employees apart from their basic salary. While some allowances are fully taxable, others enjoy partial or complete exemption under the Income Tax Act, 1961. Understanding the taxability of various allowances is crucial for both employers and employees to ensure proper tax planning and compliance.… Read More »

What is the difference between TDS and Form -16?

Difference between TDS and Form-16 Difference between TDS and Form-16,  Tax Deducted at Source and Form 16 are related to each other, but they are different concepts. Tax is the tax amount that is deduct by the person responsible for making the payment (the deductor), at the time of making the payment, from the income… Read More »