How is gratuity taxed according to the taxation laws of Kenya.?  

what are the list of tax free income instrument?

of by the citizens of India who are in government service so that they can accumulate tax-free perquisites and allowances received outside India.5. GratuitiesUnder the provisions of Section 1010 of the IT Act, any death-cum-retirement gratuity of a government servant is completely exempt from income tax. However, in respect of private sector employees gratuity received on retirement or on becoming incapacitated

waht is income tax

of maoney that u pay to govtand according to the new budget u pay income tax only when u earn more than 1.5L per annum for men and 1.8L for womeneglet u earns 1.9L per yru need to pay tax of 10 on Rs :40 wrds, The compulsory part of your income which u have to pay to the govt. according to the indian income tax act slab....the money u earn u hv to pay tax because u use so many services by govt free

Give me the list of tax free income?

are in government service so that they can accumulate tax-free perquisites and allowances received outside India.5. GratuitiesUnder the provisions of Section 1010 of the IT Act, any death-cum-retirement gratuity of a government servant is completely exempt from income tax. However, in respect of private sector employees gratuity received on retirement or on becoming incapacitated or on termination or any gratuity received

How is gratuity taxed according to the taxation laws of Kenya.?

Hi,Gratuity can be received by the employee at the time of his retirement or by his legal heir in the event of death of the employee. Gratuity received by an employee on his retirement is taxable under the head "Salary" and gratuity received by the legal heir is taxable under the head" Income from Other Sources". For more details please refer to the links

Salient features of Payment of Gratuity Act, 1972?

August, 1971 as also the Indian Labour Conference held on 22 and23 October 1971 and general consensus was reached for enacting a Central Legislation on paymentof gratuity. Accordingly, a Central LawBackground1. Before the enactment of the Payment of Gratuity Act, 1972, there were two State Lawsproviding for payment of gratuity. These were the Kerala Industrial Employees Payment ofGratuity Act

Property Tax comes under which catagory either direct tax or indirect tax?

taxes include estate tax and gift tax.Direct tax: U.S. constitutional lawAccording to the U.S. constitutional law, a direct tax is the charge on property by reason of its ownership.Direct tax in IndiaProperty tax, or millage tax, is an ad valorem tax that an owner pays on the value of the property being taxed.There are three species or types of property: Land, Improvements to Land immovable

How to fill 10 E form of income tax?

of the Income tax Rules, 1962, during the previous year relevant to assessmentyear1. a Salary received in arrears or in advance in accordancewith the provisions of sub-rule 2 of rule 21ARs.b Payment in the nature of gratuity in respect of past services,extending over a period of not less than 5 years in accordancewith the provisions of sub-rule 3 of rule 21Ac Payment in the nature of compensation from the employer

what is Wealth Tax?

cash will have to be determined in accordance with the valuation norms laid down in the Wealth Tax Act. In determining the value of the assets, debts owed by the assessee in respect of assets chargeableWell, Because of the broad term "wealth", property tax, capital transfer taxes inheritance tax, estate tax, gift tax, endowment tax and capital gains taxes are sometimes referred

Why fringe benefit tax?

in their hands in accordance with the existing provisions of section 172 of the Income-tax Act and subject to the method of valuation outlined in rule 3 of the Income-tax Rules.In cases, where attribution in their hands in accordance with the existing provisions of section 172 of the Income-tax Act and subject to the method of valuation outlined in rule 3 of the Income-tax Rules.In cases, where attribution

Who pays fringe benefit tax?

, as provided in section 115WA.The fringe benefit tax is payable by the employer even where he is not liable to pay income-tax on his total income computed in accordance with the other provisions of this Act in accordance with the other provisions of this Act.The benefit does not have to be provided by the employer directly for him to attract fringe benefit tax. fringe benefit tax may still be applied if the benefit

What is the reaction of India Inc to fringe benefit tax?

the Institute of Chartered Accountants of India, which has otherwise praised the finance minister for rationalising the tax administration....Well According to Finance Minister India Inc is strongest than otherReaction of the Indian Incorporations as to the enactment of FBT-India Inc is quite nervous about the proposed fringe benefit tax and feels that the gains from the reduction in corporate tax

What is the reaction of India Inc to fringe benefit tax?

at the rate of thirty per cent, as provided in section 115WA.The fringe benefit tax is payable by the employer even where he is not liable to pay income-tax on his total income computed in accordanceReaction of the Indian Incorporations as to the enactment of FBT-India Inc is quite nervous about the proposed fringe benefit tax and feels that the gains from the reduction in Delegation from Down

How gratuity is calculated?

based on the number of years the employee has stayed in the company....monthsalary-divided by 26 into15 in to number year in service...he gratuity willl be calculated according to the formula:GratuityGratuity is mostly calculated on the basis of last salary drawn.At the rate of 15 days salary for every year of service put in.For example if a person had put in 20 years service and his last drawn

How gratuity is calculated according to KENYAN laws?

Hi Samira, Gratuity is a lump sum amount that an employer pays the employee on contract when he retires or resigns from the organization. An employee does not contribute any portion of his salary towards this amount. The rationale for gratuity is to encourage employees to offer longer service to the employer and to ease the termination of contract of employment by offering the sum of gratuity

what are the list of tax free income instrument?

waht is income tax

Give me the list of tax free income?

How is gratuity taxed according to the taxation laws of Kenya.?

Salient features of Payment of Gratuity Act, 1972?

Property Tax comes under which catagory either direct tax or indirect tax?

How to fill 10 E form of income tax?

what is Wealth Tax?

Why fringe benefit tax?

Who pays fringe benefit tax?

What is the reaction of India Inc to fringe benefit tax?

What is the reaction of India Inc to fringe benefit tax?

How gratuity is calculated?

How gratuity is calculated according to KENYAN laws?