A salaried employee also known as a salary employee is a special kind of worker in today’s employees who is paid a fixed amount of salary (regular payment to a worker) or money. The salary payments are made on regular basis such as monthly, bi-monthly, or semi-weekly depending on a pay amount that is termed as an annual amount. For example, a salaried employee has a salary paid at a rate of $50,000 per year by an employer.
Salaried employees need to discharge both liabilities i.e. discharge of tax liability and liability to file income tax return because these two are completely distinct liabilities.
Income tax law states that salaried employees are required to file the income tax returns if their gross income goes beyond the basic exemption limit.
Basic Exemption Limit at present
- Limit is Rs 2.50lakh for taxpayers who are below 60 years of age.
- 3lakh rupees for senior citizens who are above 60 years but below 80 years of age.
- Limit is Rs 5lakh for the financial year for tax payers who have the age of more than 80 years.
Income Tax Exemptions for Salaried Employees
- Income Tax Exemption on leave travel allowance
- HRA Exemption for salaried employees
- Tax Exemption from pension income for salaried employee
- Exemption on encashment of leaves for salaried employees
- Income Tax Exemption for perquisites for salaried employees
- Income Tax Exemption on VRS received
- Exemption of various allowances
As a salaried employee you are also beneficial to certain tax benefits. Our charted accounts and Tax-legal team will guide you through the benefits and help you with the process of tax filling. Just click on apply now to know more.
How it is done?
Documents to be provided:-
- Requirement: – Bank Statement for entire financial year, Salary Certificate and ancillary documents of investments that you have made (if any)
Step1:- Receive expert counseling on Tax Assessment and filling by our Panel of CAs
Step2:- Pay 50% of the payment
Step3:- Provide all relevant Data for the purpose of Income Tax Assessment (We’ll guide you!)
Step4:- The application process will start within 24 hours of Document submission
Step5:- Make the Balance Payment at the time of Tax filling
Step6:- Receive your Original ITR (Income Tax Return) and ancillary documents
Click on apply now and get it done right away!!
|Packages Starting from||INR 1,299/-[ All inclusive ]|
Get your Tax Filings done expertly and efficiently by our Tax-Legal team of Chartered Accountants within 1* day
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Prices are inclusive of Taxes.
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