New Delhi, July 1 (IANS) The Supreme Court on Wednesday laid down broad guidelines for determining the income of deceased victims in motor accident compensation cases, holding that while the latest Income Tax Return (ITR) should ordinarily be relied upon for salaried persons, the average of up to the previous three years’ ITRs should generally be considered for self-employed individuals, subject to the nature and circumstances of their business.A bench of Justices Sanjay Karol and N.K. Singh sai…
Latest Salaried Employees News & Updates
New Delhi, Jan 10 (IANS) The government should consider enhancing standard deduction for salaried employees, allowing more time for belated tax returns and several measures to improve ease of doing business in the upcoming Union Budget, a report has said.The report from KPMG India said India’s top expectations from the budget include a raise in the standard deduction for salaried employees to Rs 1 lakh and extension of timelines for filing revised or belated returns to help taxpayers with cros…