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Deduction available under Section 80D

Deduction available under Section 80D

Individual: An individual can claim a deduction of up to Rs 25,000 for the insurance of self, spouse, and dependent children. An additional deduction for the insurance of parents is available to the extent of Rs 25,000 if they are less than 60 years of age, or Rs...

Tax Treatments of Investment National Pension Scheme

Tax Treatments of Investment National Pension Scheme

Earlier the tax deductions allowed for the NPS investments was only limited to Rs. 1 lakh. However, the same was amended in the budget of 2015 to encourage more people to invest in pension schemes. Amendments in the sections pertaining to NPS were announced in Budget...

HRA Exemption

HRA Exemption

For most employees, House Rent Allowance (HRA) is a part of their salary structure. Although it is a part of your salary, HRA, unlike a basic salary, is not fully taxable. Subject to certain conditions, a part of HRA is exempted under Section 10 (13A) of the...

Section 87A : Tax Rebate under Section 87A

Section 87A : Tax Rebate under Section 87A

In the year 2013-14 the government of India introduced rebate u/s 87A. This rebate provides benefits from your taxes payable. This benefit can be claimed when your taxable income does not exceed prescribed limits for the relevant financial year. For the FY 2019-20 if...

Top 5 Amazing Benefits of a Payroll Software

Top 5 Amazing Benefits of a Payroll Software

As an HR professional, when you board a new employee you normally don’t have to do payroll tasks beyond their basics. But it is essential to ensure that workers are paid for your role, as you are the one who addresses any grievances. And you want a system which...

Selecting Human Resource Management Systems

Selecting Human Resource Management Systems

A seven-step plan for selecting HRMS (Human Resources and Payroll Management Software) that meets your company’s needs now – and in the future The Need for Automation Automating workforce management using integrated HR and payroll software is imperative for companies...

Why HR is Essential in Small Business?

Why HR is Essential in Small Business?

Many small businesses have lower monetary resources that force the owner to employ fewer company professionals. To run the company on a tight budget, these business owners have to perform multiple tasks. We will also interview applicants by shortlisting their...

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