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Form 12B Explained:
Turbocharge Your Income Tax Returns Now Filing an Income Tax return (ITR) is crucial in India if your income is above the basic exemption limit. It’s common for an individual to shift from one job to another job if he feels he can get more compensation for the work done by him. While leaving the…
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When you have to file Your Income Tax Return (ITR)?
The answer is very simple to say that, when the Income is above the Taxable Income then one should file their Income Tax Return (ITR). Now you may have a question ?. What is the Taxable Income in India? In India as per the current provisions, there is no Tax for Income less than ₹…
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Heads of Income
Income from Salary Income from House Property Income from Business or Profession Capital Gains Income from Other Sources
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How to activate your PF account
UAN or Unique Account Number is the USER ID for logging in to your PF or Provident Fund Account. To Activate you EPF Account, Visit EPF Login page Under the Login Form, Select Activate UAN Enter the details and Proceed with ‘Get Authorization Pin’ On successful activation, you will receive you Password in SMS. Click…
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Difference b/w CTC and Gross Salary and Net Salary or Take Home Pay
CTC includes Basic Pay, House Rent Allowance (HRA), Other Allowances, Bonus, Incentives, Company’s Contribution towards your : Provident and Pension Fund, Medical Insurance, Life Insurance, etc. Gross Salary is the Salary before deductions (Provident Fund, Professional Tax, TDS). Net Salary or Take Home Pay is the actual amount which an employee receives i.e., after deductions.
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Employee Provident Fund (EPF)
Provident Fund is the Mandatory savings scheme managed by the Government. Provident Fund or PF is contributed by both an Employer and the Employees. Employee Contribution towards Provident Fund (EPF) is shown as deduction in the gross salary. An Employer’s Contribution towards Employee Provident Fund is one of the parts of CTC disclosed to the…
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What is CTC ?
CTC is Cost to Company i.e the maximum amount which the company is ready to spend to the employee for the specified job role. CTC includes both monetary and non-monetary benefits.
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Welcome Blog!
Welcome to AkMo Filings. This is our first post and we would offer all type of Knowledge-worthy contents to everyone who has some or no idea about Taxation in India and Commerce terminology. Thank you and Keep supporting us.