Features of Payment of Bonus (Amendment) Act 2015
The salient features of the Payment of Bonus (Amendment) Act 2015 is as follows. The Parliament has passed the Amendment to the Payment of Bonus Act and the Act has received the assent of the President on the 31st December 2015. A copy of the Gazette of India dated 1.1.2016 is enclosed. The main features of the… (1 comment)

Employees Provident fund(EPF) ,EPS,EDLI its calculation&ceiling limit
Here I am discussing about the practical section of EPF  & Miscellanious Act 1952.EPF contribution calculation,ceiling limit,base of calculation,rate of contribution, exceptions & important points to be considered while doing a payroll linked with this Act. EPF is expanded as Employees provident fund.In 1952 4th March government has passed The Employees Provident Fund Act with the object… (52 comments)

Transporters Income assumed to be 7500/ Month/Vehicle Under Section 44AE
Section 44AD of Income tax act gives some benefit to small tax payers with regards to maintaining of books of account, by assuming their Income. Read:  Presumptive Tax Payment for Individuals, HUF  Section 44AE also deals with Presumptive taxation of transporters or as per rule,”assessee engaged in the business of plying, hiring or leasing such goods carriages”.… (3 comments)

Presumptive taxation scheme Section 44AD of Income Tax Act
What is Presumptive tax? Presumptive taxation is a new type of taxation introduced by the Income tax department Under section 44AD & 44AE , for giving some helping hand to small tax payers for eleminating or reducing expensive book keeping process. What is mandatory for an assessee who adopt presumptive taxation shall declare income at… (0 comment)

Income Tax rate FY  2016-17& AY 2017-18
In the 2016 Budget, There has been no changes in the Income tax rate of FY 2015-15, The same rate will continue to follow in the Current Financial Year 2016-17 also. In the recent past Income tax rule has categorised tax payers like, Senior Citizen, Male Below 60 Years, Female below 60 years, Super Senior… (0 comment)

Income tax surcharge rate for FY 2016-17 and computation method
The Finance Act 2016, Added new rate of Income tax surcharge for the Financial Year 2016-17.The tax ( surcharge) rate is different for different categories of tax payers.There is a big rate difference when comparing individuals with Dmestic & Foreign Companies because, a higher rate of income tax already been declared for Domestic companies & Companies… (0 comment)