Sun, Jan 07, 2024
Income Tax 2023-2024: People filing income tax returns seek every possible option that can help them save their hard-earned money. There are many tax saving tactics, including your salary allowances that can help you save your tax. In today's write-up, we will tell you one such tax saving option that can help you save tax considerably.
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Sat, Jul 29, 2023
To claim HRA by paying rent to relatives, a valid rental agreement, proper payment channels, and property ownership in the name of the rent receiver are crucial. With the income tax return deadline ending today (July 31, 2023), you should know whether incorporating such rent documents in your ITR can benefit you in tax saving.
Employees who haven't provided their HRA paperwork to their employers can still update (or correct) their rent details while filing their ITR till the deadline today (July 31, 2023).
Wed, Jun 07, 2023
Proper documentation and adherence to regulations are crucial when claiming HRA exemption for rent payments made to parents.
Wed, Jun 26, 2019
Renting a property is not so great option as it requires a bit of documentation, transparency, and understanding between landlords and tenants. In order to avoid unnecessary issues and trouble in future, there should be a discussion on every single thing among the involved parties.
Mon, Mar 18, 2019
Income Tax return filing: The financial year is almost over and the tax season is now well and truly here. The few days left in March offer the last opportunity to save on your hard earned money, else you will lose a big chunk of your money to the taxman.
Wed, Feb 20, 2019
Income Tax Calculator: The current Financial Year is about to end in a month. With this, most of the salaried individuals are also concerned about how to save income tax. If you see your salary slip, you will find a major portion of your salary is categorised under House Rent Allowance (HRA).
Tue, Mar 13, 2018
House rent allowance (HRA) is paid by employers to employees as part of salary break-up. HRA provides tax benefit for the rent employees pay for accommodations every year.
Thu, Mar 01, 2018
Income Tax Returns (ITR) filing: In case you have purchased a residential property on loan, but you live in another home which you pay rent for, you can claim available tax benefit for HRA as well as against the Home Loan. The condition however, is that both rented and owned property should be in different cities.
Thu, Feb 22, 2018
Union Finance Ministry has reportedly set a panel to take a final call on demands of these employees by April this year.
Mon, Feb 19, 2018
The Union Cabinet had earlier examined 197 allowance, recommending abolition of 53 allowance and subsuming 37 in others.
Mon, Jul 31, 2017
While the central government employees are still dissatisfied with the revised allowances, this salary revision will be for the last time as the government is planning to not form any pay commission post this.
Mon, Jul 24, 2017
Standing Committee of National Council(JCM) with the Additional Secretary, Department of Expenditure, held a meeting today to discuss the issues arising after the implementation of 7th Pay Commission.
Thu, Jul 13, 2017
Apart from the central bank, HSBC report had said that 7th Pay Commission implementation has put inflation in an "uncertain zone".
Union Cabinet meet which was chaired by Prime Minister Narendra Modi approved the recommendations of the 7th Pay Commission with 34 modifications.
Tue, Jul 11, 2017
Union Cabinet last month under Prime Minister Narendra Modi gave its final go-ahead to 7th Pay Commission recommendations with 34 modifications.
Mon, Jul 10, 2017
After over a year of waiting, 50 lakh government employees finally have something to cheer as Prime Minister Narendra Modi led Union Cabinet last month accepted all 7th Pay Commission recommendations, including House Rent Allowance (HRA) and Dearness Allowance (DA), with some modifications.
Mukesh Singh, Secretary of Bharatiya Pratiraksha Mazdoor Sangh wrote a letter to Ministry of Defence on June 29, following the day when Modi-led committee approved 7th Pay Commission recommendations.
Sat, Jul 08, 2017
Now that finance ministry has asked central ministries to ensure recommendations made under 7th Pay Commission to be paid from current months salary.
Fri, Jul 07, 2017
The government said that the revised allowance under 7th Pay Commission will come into effect from July 1, 2017. The recommendations allowance will benefit 34 lakh Civilian employees and 14 lakh Defence Forces personnel.
The Cabinet decided that HRA will not be less than Rs 5400, Rs 3600 and Rs 1800 for X, Y and Z category of cities respectively as per 7th Pay Commission. The HRA benefit 7.5 lakh central government employees.
Thu, Jul 06, 2017
Prime Minister Narendra Modi-led Union Cabinet last month notified slightly modified recommendations from the 7th Pay Commission over pay and allowannces for nearly 50 lakh central government employees.
Wed, Jul 05, 2017
After the Madhya Pradesh government decided to implement the 7th Pay Commission recommendation, on the other hand Rajasthan government is demanding three more months for the implementation.
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