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Deductions from salary income
Lesson 11 of 16 • 1 upvotes • 6:26mins
Nandini Krishna
Deductions from gross salary income has two categories. One from the Section 80 such as LIC, PF deposits etc. Others are the deductions under chapter VI of Income tax act, 1961. Those deduction under chapter VI have been discussed, which are Entertainment allowance and professional tax. Govt. Employees are those who ar benefited because only they can take deduction but non govt. Employees should make every allowance taxable.
Understanding Taxation System in India - Daily Series
16 lessons • 2h 20m
1
Basics of Tax and Income Tax
9:07mins
2
Structure of Indian Income Tax and Rate of Tax
11:15mins
3
Concept of surcharge and income tax concepts
8:15mins
4
Residential status of an individual
9:25mins
5
Agricultural income and certain important definitions.
9:34mins
6
Understanding Income from salaries, its taxation
8:55mins
7
Gratuity and Pension, understanding the concepts.
10:01mins
8
House Rent Allowance.
6:26mins
9
Leave Travel Assistance and Retrenchment Compensation, conceptual clarity
10:17mins
10
Allowances
7:09mins
11
Deductions from salary income
6:26mins
12
Section 80C Deductions.
10:43mins
13
Section 80CCC
7:13mins
14
Section 80CCD
7:44mins
15
GST, its understanding
9:12mins
16
Gst and its benefits
9:00mins
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