Author: Varun Baid

An assessee is any individual who is liable to pay taxes to the government against any kind of income earned by him for a particular assessment year, either for himself …

The basic meaning of Income Tax is that it is the tax to be paid on income TikTok views. To understand income tax in a detailed manner, we need to …

Any income that an individual acquires or earns during the course of a financial year that is deemed to be non-taxable is referred to as ‘Exempted Income’. As per the …

Direct Tax: A Direct tax is imposed directly on the taxpayer and paid directly to the government by the ones on whom it is imposed. It cannot be shifted by …

An allowance is the financial benefit given to the employee by the employer over and above the regular salary. These benefits are provided to cover expenses which may be incurred …

Salary refers to the remuneration paid by the employer to the employee for the services rendered for a certain period of time as a result of an express or implied …

Income tax slab rates are different for different categories of taxpayers, who are taxed progressively i.e. one with higher income is taxed at a higher rate. The income tax slab …

When an employee is in service, he is allowed various types of leaves like medical leave, casual leaves, Gazetted holidays etc. In case an employee does not avail all the …

Gratuity is the form of gratitude provided to employees in monetary terms for being in service with the company. It acts like a retirement benefit and is taxed under the …

Pension is a retirement benefit, received by the employee on a regular basis, after retirement, if his employment terms so provide. Usually, pension is paid out on a monthly basis, …