Tax exemption

pf trust-89fc8168

PF Trusts – An Overview

The Employees’ Provident Scheme (1952) came into effect to ensure social security for workers in both the organized and unorganized sectors. The companies have to contribute to the Employees’ Provident Fund Organisation (EPFO) trust towards the EPF fund. But some companies can also manage their own private PF trust if they acquire the exemption from the government. Private …

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13 days left to end the financial year 2020-21, know ways to savings tax

The last round of the financial year 2020-21 has started. In such a situation, when you are filing your income tax return, then you should think about tax savings. Exemption under 80C Under Section 80C of the Income Tax Act, the government exempts tax on investments up to Rs 1,50,000. See following Tax exemption for …

13 days left to end the financial year 2020-21, know ways to savings tax Read More »

LTC fare for non-Central Govt employees

Government allows Income Tax exemption for payment of deemed LTC fare for non-Central Govt employees

A number of employees have not been able to avail Leave Travel Concession (LTC) in the current Block of 2018-21 due to ongoing pandemic. With a view to compensate Central Government employees and incentivise consumption, government allowed payment of cash allowance equivalent to LTC fare to Central Government employees subject to fulfillment ofcertain conditions. Since …

Government allows Income Tax exemption for payment of deemed LTC fare for non-Central Govt employees Read More »