Finance & Money#Tag

LTA – Leave Travel Allowance, Income Tax Rules Explained

Anil Gupta
  By Anil Gupta      Updated  31 May, 20
 

LTA is leave travel allowance meant for making tax exempt holiday once in period of two years with or without family. Air travel, train ticket cost (economy or first class AC), hotel and taxi bills within India (no abroad) are allowed. Full LTA that is part of CTC can be claimed with receipts.

#Finance & Money
Save Tax India

HRA Tax – Pay Rent to Wife?

Anil Gupta
  By Anil Gupta      Updated  29 May, 20
 

Yes, you can pay rent to wife or parents to claim Indian HRA (House Rent Allowance) tax exemption. Paid rent is counted as spouse or parent income. File ITR.

#Finance & Money
Cost to company in India - take home salary

What is CTC? Difference between CTC Package & Net Salary?

Anil Gupta
  By Anil Gupta      Updated  17 May, 20
 

CTC full form is Cost To Company. It means total salary package & benefits received by employee in a year including free meals, cabs, interest free loans.

#Finance & Money
Rent receipts for HRA tax exemption India

Documents Required for HRA Exemption in India

Anil Gupta
  By Anil Gupta      Updated  16 May, 20
 

No rent receipt required for rent upto 3 thousand per month. Landlord PAN number, revenue stamp, Rent receipt required for monthly rent more than 8,334.

#Finance & Money
Supplementary credit cards

Do Supplementary Credit Cards Affect Your Credit History?

Anil Gupta
  By Anil Gupta      Updated  16 May, 20
 

Supplemental credit cards in India do affect your credite history. Primary card holder is responsible additional family card member's purchases.

#Finance & Money
Custom duty on iPhone from USA to India

Send iPhone USA to India, Custom Duty, GST Tax Calculator

Anil Gupta
  By Anil Gupta      Updated  30 Apr, 20
 

Sending iPhone to India is expensive (customs duty + GST Tax) than buying in India. Mark as Gift does not help. Carrying and not declaring at Indian airport custom evades duty but not safe.

#Finance & Money #iphone