Sentences with phrase «given financial year»

If the rent paid during given financial year is greater than Rs 1 Lakh, the employee will have to provide the PAN card details and copy of the landlord / property owner in order to claim HRA tax exemption.

In a given financial year, if you are outside of India for more than 182 days, you are NRI for tax purposes.

At a broad level, If you have stayed for more than 182 days in India for a given financial year 1st April to next 31st March.

Assuming that for the given financial year, 1 April to 31 March you have stayed more than 182 days out of India, you will be classified as non-resident Indian, NRI for tax purposes.

It is dependent on whether for the given financial year you are NRI for tax purposes.

However, you may submit Form 15G to avoid TDS and if your expected income in a given Financial Year is less than the Basic Exemption limit then there won't be taxes applicable on your income.

Previously, under the repealed section 16CCC a firm having gross receipts of BDT 5 Million or every company, irrespective of profitability of the company in a given financial year, had to pay a minimum tax at the rate of 0.30 % of its gross receipts under any heads of income.

What makes life insurance so popular is that it provides a maximum deduction of Rs. 1.5 lakh in a given financial year, also granting a pre-decided tax - free amount at the end of maturity or in case of fatality of the policy owner.

There can be multiple deposits as well so that the total amount deposited during a given financial year does not cross the Rs. 1.5 Lakhs limit.

Freelancers can also use the Presumptive Taxation method, and escape the tedious task of account bookkeeping, when they earn an income less than Rs 50 Lakhs during the given financial year.

The PPF account online or offline may get inactive when you fail to deposit a minimum of Rs. 500, in a given financial year, during the 15 - year time frame of the account.

In this case, the total PPF investments in the account of the minor and guardian / minor can not exceed 1.5 lakhs, for a given financial year.

The gross income is to be calculated for a given financial year, i.e. from 1st April of a year, to the 31st March of the next year.

Reduce your annual taxable income and in turn, lessen your tax liability for the given financial year.

You can deposit money in a given PPF account for a maximum of 12 times during a given financial year, via any of these means.

In a given financial year, the state of the economy determines the return rates of various banks in the country.

For all those who are salaried, and who want to claim the HRA tax exemptions, among others, the last date for filing and submitting the ITR (Income Tax Returns) is July 31st of a given financial year.

Claim Settlement Ratio (CSR) is the gauge that clarifies how many claims are settled by the Insurance Company in a given financial year.

The claim settlement ratio is the indicator of the number of death claims settled by an insurance company over the number of total claims reported in a given financial year.

The Claim Settlement Ratio is expressed as the number of claims settled divided by the total number of claims reported in a given financial year, including the claims outstanding at the beginning of the financial year.

With a maximum deduction of Rs 1.5 lakh allowed in a given financial year, it is one of the most opted tax saving tools by individuals.

It is measured for all the products of the life insurance company in a given financial year.

As the name suggests, Claim settlement ratio is the percentage of claims settled by the insurance company out of the total claims reported in a given financial year.