# 1 – FinMin May Raise Wage Cap For PF
From Rs.6,500 to Rs.15,000.
While the government is looking at every possible opportunity to raise money and cut down on external borrowings, this options seems to be more than lucrative ! Of-course, it comes with some “Conditions Apply”.
Read About the Impact and Actual Proposal Here. Click Here.
# 2 – TDS Credit to be allowed even if Tax Credit in Form 26AS not available – High Court
A Verdict to rejoice.
Yet another judgement delivered to the benefit of Common Man. Many a times, Demand Notices (or) Refund Adjustment intimations are received by Individuals due to Tax Credit not available in Form 26AS, inspite of TDS being actually deducted by the Deductors & Form 16 (or) Form 16A issued.
See the Actual Judgement Here. Click Here.
Will this verdict really help ? Let us know your thoughts. Click Here.
# 3 – 80C Deduction – Tuition Fees to include all types of fees paid to school and playschool !
Development Fees & Donations continue to be un-exempt.
The Circular dated 10.10.2013 clarified certain aspects and the interpretation is now simpler. For Example – “Full Time Education” also includes Play school activities, pre-nursery & nursery classes. Further not only Tuition Fees but Admission, Exam, Computer, Project, Practical Fees will now be allowed for exemption under Sec. 80C.
See the Full Circular Here. Click Here.
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