Section 80JJAA is a facility for claiming a deduction for the recruitment of new or additional employees. The section has been made available in the Income Tax Act to encourage employers to recruit fresh employees on a periodic basis. This deduction of the Income Tax Act can be claimed by all assessees for creating employment generation opportunities. […]
New Section 80JJAA Deduction for Salaries paid to New Employees Read More »
The Finance Minister Nirmala Sitharaman while presenting the Union Budget 2020 gave an earning individual two options while filing their income tax return (ITR). Either you forfight all tax exemption benefits and get zero income tax slab on your annual income up to rs 5 lakh or remain in the old income tax slab and
Employees’ Deposit Linked Insurance Scheme Rule Change 2020: Here’s good news for EPF-covered employees. The Employees’ Provident Fund Organisation (EPFO) has decided to extend the minimum assurance benefit under the Employees’ Deposit Linked Insurance (EDLI) scheme. A decision in this regard was taken in the 226th meeting of the Central Board of Trustees (CBT). Now, the
EDLI – New Rule Updated Read More »
Registration of new public, private limited companies and one person company under the Employees Provident Fund Organisation (EPFO) and the Employees’ State Insurance Corporation (ESIC) will now be done on the website of the Ministry of Corporate Affairs instead of the Labour Ministry’s Shram Suvidha Portal at present, the Labour Ministry said Friday. “As part
Registration of new companies under EPFO, ESIC to be done on MCA portal Read More »
The Employee Provident Fund interest rate has been lowered by 0.15 per cent for the year 2019-20 to 8.50 per cent from the earlier 8.65 per cent. With the fresh development, salaried employees will get 0.15 per cent lower interest rate on their provident fund deposits. The fresh rate announced by Union Labour Minister Santosh
EPF interest rate lowered by 15 bps to 8.50 per cent for 2019-20 Read More »
Chennai: The Madras High Court has ruled that if a working woman gives birth to a child in the second delivery after twins in the first, she is not entitled to maternity benefits as it should be treated as the third child. “As per existing rules, a woman can avail such benefits only for her first
NEW DELHI: The income tax department is asking companies and individuals engaged in tax disputes to settle cases under the Vivaad Se Vishwas scheme even though the relevant law is yet to be passed by Parliament. Tax experts said that the department is pushing taxpayers, including those based overseas, to settle but the government maintains that it’s only
Taxpayers nudged to opt for “Vivaad Se Vishwas” scheme Read More »
Aadhaar PAN Data Mismatch: Any Kind of Mismatch of data like Your Name, Date of Birth, Gender will lead to the rejection of your request to link PAN with Aadhar. However, there is still a way to link PAN card with Aadhaar card under such circumstances. Everywhere, we have heard that ‘It is mandatory for all Indian
Aadhaar PAN Data Mismatch? – link PAN, Aadhaar cards having data mismatch Read More »
Employees‘ contribution to EPF and ESIC deposited beyond the due date prescribed under section 36(1)(va) would not be eligible for deduction even if deposited before the due date of filing the return of income tax under section 139(1): Madras High Court short overview: Employees’ contribution to EPF and ESIC deposited beyond the due date prescribed under section 36(1)(va) would not be eligible for deduction even if deposited before the due date of filing the return of income tax under section 139(1). Therefore appeal of Revenue was allowed. Issue arose under consideration as to
