Non-deductible Taxes: Some types of taxes paid Income Tax are not considered “deductible expenses” for
TAX ON PERQUISITE PAID BY EMPLOYER
Perquisites are fringe benefits under income tax provided by employers to their employees, apart from
HOW TO DEDUCT TAX WHEN A PERSON IS EMPLOYED BY A MORE THAN A ONE EMPLOYER
Employee Name: John Doe Home State: Karnataka Employer 1: Company A (Salary Rs. 1,00,000 per month) Employer 2: Company B
TAX ON PERQUISITE PAID BY EMPLOYER
Perquisites are fringe benefits under income tax provided by employers to their employees, apart from
COMPUTATION OF SALARY AND TAX THEREON
Gross Salary: This includes all the income tax you receive from your employer, including: Basic
DEDUCTION OF TAX FROM SALARIES [SEC.192]
Section 192 of the Income Tax Act deals with the deduction of tax at source
CONSEQUENCES OF DEFAULT
Financial: Penalties: The Income Tax Act imposes penalties for various defaults, including late filing of returns, underpayment of
WHEN RECIPIENT IS LOCATED IN A NOTIFIED JURISDICTIONAL AREA
Section 94A (5) of the Income Tax Act deals with additional information and documents required
WHEN RECEPIENT IS NON-FILER OF INCOME TAX RETURN [SEC.206AB]
Section 206AB of the Income Tax Act deals with the deduction of tax at source
WHEN RECIPIENT NOT FURNISH HIS /ITS PAN [SEC.206AA]
Section 206AA of the Income Tax Act deals with higher deduction of tax at source