Nitso Technologies Blog

Your go-to blog for everything related to HR, Payroll and Inventory Management Software

Menu
  • Home
  • Contact Us
  • About Us
  • Privacy Policy
  • Tax Information
    • Tax Benefit on Home Loan
    • Section 80 EEA
    • Section 80E
    • Section 80U
    • Donating Money? Tax benefit under section 80G.
    • Deduction available under Section 80D
    • Tax Treatments of Investment National Pension Scheme
    • HRA Exemption
    • Section 87A : Tax Rebate under Section 87A
    • Section 10 of Income Tax Act
Menu
income tax slab budget 2020

BUDGET 2020 EXPLAINED FOR SALARIED EMPLOYEES

Posted on February 4, 2020February 4, 2020 by nitsotechnologies

HOW THIS NEW BUDGET IMPACTS ON SALARIED INDIVIDUALS? In the midst of an economy going through the worst of the decade, Finance Minister Nirmala Sitharaman on Saturday presented the General Budget, which has introduced a new system of reduction in income tax rates. However, there is also an option to remain in the old system….

Read more

What to consider when choosing your Payroll Software?

Posted on December 11, 2020December 11, 2020 by nitsotechnologies

Choosing Payroll software for your business may seem like a simple decision on the surface, but it can be quite complex. All sorts of things need to be considered, including the size and nature of your business and technical things like software compatibility. It is not a one-size-fits-all situation, and the real trick is to…

Read more
Statutory Bonus Article

Statutory Bonus

Posted on July 16, 2020July 16, 2020 by nitsotechnologies

The statutory bonus in India is paid according to the bonus payment law (1965). The bonus is a deferred benefit, and some companies choose to pay it in advance.  Eligibility for the bonus has been increased to include employees income up to INR 21,000 per month (up from INR 10,000 per month before). Increase of…

Read more
Notice Pay Article

Notice Pay- Salary in lieu of Notice

Posted on July 16, 2020 by nitsotechnologies

In an Employment contract between the employee and employer, the termination clause states a clause on Pilon i.e, payment in lieu of the notice period. This can come into picture in two situations. When the employee resigns and does not want to serve the notice period as per his employment agreement. The employee can serve…

Read more
article1

Cloud HRMS in India | Where to Purchase the best online HR software in India?

Posted on July 1, 2020July 1, 2020 by nitsotechnologies

There are many different websites where you can get your hands-on Cloud HRMS in India, and in this scenario, the question of where to purchase the best HR software in India arises in every employer’s mind. What you may find is that the prices vary depending on where you make your purchase. Make it a…

Read more
providentfunds

Provident Funds in India

Posted on June 19, 2020June 19, 2020 by nitsotechnologies

In India we have different types of provident funds which are created to address needs of different sections of people. In this article we will be looking into these different types of provident funds. Employee Provident Fund or EPF Any person who has employed 20 or more employees in an organization, is under an obligation…

Read more

ESIC- Employees’ State Insurance Corporation.

Posted on June 10, 2020June 10, 2020 by nitsotechnologies

Employees’ State Insurance (abbreviated as ESI) is a self-financing social security and health insurance scheme for Indian workers. The fund is managed by the Employees’ State Insurance Corporation (ESIC) according to rules and regulations stipulated in the ESI Act 1948. ESIC is a Statutory Body and Administrative Ministry is Ministry of Labour and Employment, Government…

Read more

Leave Travel Allowance

Posted on June 6, 2020June 6, 2020 by nitsotechnologies

As the name itself suggests, it is an exemption for allowance/assistance received by the employee from his employer for travelling on leave. Though it sounds simple, many factors need to be kept in mind before planning the travel for the purpose of claiming LTA exemption. Income tax provision has laid down rules with respect to…

Read more

Section 10 of Income Tax Act

Posted on June 4, 2020June 4, 2020 by nitsotechnologies

Section 10 of the Income Tax Act, 1961 includes those incomes which do not form part of the total income while calculating the tax for an individual. Thus, these incomes are excluded from the calculation, and they are known as exempted incomes. The main objective of Section 10 is to reduce the tax burden of…

Read more

Tax Benefit on Home Loan

Posted on June 3, 2020June 3, 2020 by nitsotechnologies

Taking a home loan can help you save tax as per the provisions of the Income Tax Act, 1961. Even more so after the announcements made during the latest financial budget 2020: Tax benefits for home loans remain unchanged, though the timeline for availing loans for affordable housing has been extended for a year –…

Read more

Section 80 EEA

Posted on June 3, 2020June 3, 2020 by nitsotechnologies

Under the objective “Housing for all”, the government has now extended the interest deduction allowed for low-cost housing loans taken during the period between 1 April 2019 and 31 March 2020. Accordingly, a new Section 80EEA has been inserted to allow for an interest deduction from AY 2020-21 (FY 2019-20).The existing provisions of Section 80EE…

Read more
  • 1
  • 2
  • 3
  • Next

Recent Posts

  • What to consider when choosing your Payroll Software?
  • Statutory Bonus
  • Notice Pay- Salary in lieu of Notice
  • Cloud HRMS in India | Where to Purchase the best online HR software in India?
  • Provident Funds in India

Recent Comments

    Archives

    • December 2020
    • July 2020
    • June 2020
    • May 2020
    • February 2020
    • January 2020

    Categories

    • Best HR Software for Startup
    • Compliance
    • Do You Know?
    • HR Software
    • Payroll Software
    • Small Business
    • Uncategorized
    © 2021 Nitso Technologies Blog | Powered by Minimalist Blog WordPress Theme