Syllabus - Force 9!

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Syllabus:
• Basic terms & concepts
• How to calculate income tax liability for an
individual?
• Income exempted from tax(Sec:10)
• Income from salary & Income from house property
(Detail Discussion)
• Deductions from gross total income
• Assessment, Return, Advance Payment ,Tax
deducted at source
• Introduction to new concepts in Income Tax like
FBT,STT .
Basic concepts under income tax Act:
Sec:2
• Previous Year: The year in which income is
earned is called as previous year.
• Assessment year: the income of the previous
year is charged in the next year called as
assessment year.
Example: X joins an Indian company on January
23,2007.Prior to January 23,2007,he is not in
employment, What is the previous year for the
assessment year 2007-08 &2008-09?
Assessee:
• Assessee means a person by whom any Tax
or any other sum of money(i.e Penalty or
interest) is payable under the act:sec:2(7)
Who is liable to pay Tax?
•
•
•





A person is liable to pay Tax.
Sec:2(31) of the act defines the person.
The person includes:
An Individual
A Hindu undivided family
A company
A Firm
An association of persons or body of individuals whether
incorporated or not
 A local Authority
 Every artificial juridical person
Example:
• Determine the status of the following:
Pune university
DCM Ltd
Mumbai municipal corporation
Taxman publications Ltd
Laxmi commercial bank
XY&CO.,Firm of X&Y
Joint family of X,Mrs. X & their sons A &B
Heads of Income:
• There are 5 heads of Income
Income from Salary
Income from house property
Income from profits & gains of business
Income from other sources
Capital gains: short term & long term capital
gain.
What constitutes salary
• There are 3 groups that constitute your salary:
Group 1: Basic salary, advance salary, arrears of
salary, all types of bonus, service award ,pension
Group 2:Allowances group: It includes dearness
allowance, conveyance allowance, children
education allowance, overtime allowance, leave
travel allowance, city compensatory allowance
Group 3: Perquisites: It means facilities given by
Employer to Employee: Rent free
accomodation,domestic servant facility,
reimbursement of medical facility,Motar car facility,
benefits derived by stock option scheme.
Exemption limit for certain items of
salary & allowances:
•




Leave salary or Leave encashment:(sec:10(10AA)
Leave salary is the salary i.e received at the time of
retirement or termination of service is exempt to the extent
of following: For central or state government employees the
entire amount is tax free, for other employees the least of
following is exempted from tax:
Leave salary actually received
Ten months average salary
Amount specified by government i.e Rs.3,00,000
Cash equivalent to earned leave not exceeding 30 days for
each year of completed service. In all cases salary means
salary + dearness allowance
Example of leave encashment
• Mr.X is an employee of Y ltd.receives 80,000
as leave salary at the time of his retirement on
Feb,2006. average salary drawn during last 10
months Rs.3,000. Duration of service is 24
years, leave taken in service is 9 months.
Leave entitlement as per employers rule is
one month for each completed year of service.
Calculate Taxable leave salary for Mr.X?
Calculation for leave salary
• Cash equivalent of leave at the time of
retirement=3000*15 months(24-9)=45,000
• 10 months average salary=10*3000=30000
• Amount notified by government=3,00,000
The least of above 3 i.e. Rs.30,000 will be
deducted from actual leave salary received. It
means taxable salary would be
Rs.50,000(80,000-30,000)
Gratuity:
• Gratuity received by the employee of central or state
government & local authority is exempt without any
limit.
• Gratuity received under payment of gratuity act is
exempt to the extent it does not exceed 15 days
wages for every year of completed service to a
maximum of Rs.3,50,000
• When the employee is not covered by payment of
gratuity act, It is average salary for each year of
completed service subject to a maximum of
Rs.3,50,000
Employee covered by payment of
gratuity act
•
Example: An employee receives gratuity Rs.1,80,000 as
gratuity on his retirement. Period of service is 36 years 4
months. The last drawn salary were Rs.7,800.The amount
of gratuity exempt shall be minimum of (a), (b)& (c)
(a) Gratuity actually received Rs.1,80,000
(b) Amount calculated on the basis of 15 days salary for
completed year of service=(7800*15/26*36)=1,62,000
(c) Maximum amount of gratuity Rs.3,50,000
Thus, Rs.1,62,000 shall be exempt & Rs.18,000 will be taxable.
Employee not covered under payment
of gratuity act:
• An employee receives Rs.3,20,000 as gratuity on his
retirement; Period of salary is 40 years. Average
salary in the immediately preceding 10 months is
Rs.12,600 per month. The amount of gratuity exempt
will be as follows:
• Actual amount received Rs.320,000
• ½ month average salary for 40 completed
years(12,600/2*40)=Rs.2,52,000
• Maximum monetary limit Rs.3,50,000
Thus Rs.
2,52,000 is exempt & Rs.68,000 is taxable.
Compensation received under VRS
• Under the approved VRS, the maximum exemption
is Rs.5,00,000.
Deduction from salary
• Conveyance allowance is Rs.800 per month is
exempted from tax.
• Pension can be commuted pension or it can be uncommuted pension. Un-commuted pension refers to
pension received periodically to the employee.
Commuted pension means lump sum amount
received, it is tax free for government employees, for
non government employees 1/3rd amount is tax free
if the employee is in receipt of gratuity otherwise ½
of the amount is exempted from tax.
Allowances
• Allowances referred to the fixed quantity of
money given regularly in addition to salary for
meeting a particular requirement connected to
services rendered by the employee. It is fixed,
predetermined & given irrespective of actual
expenditure. It is based on due or receipt
basis whichever is earlier.
Allowances which are fully taxable
•
•
•
•
•
•
•
•
Dearness allowance
City compensatory allowance
Medical allowance
Lunch/Tiffin allowance
Overtime allowance
Servant allowance
Warden allowance
Family allowance
Allowances exempted in case of
certain persons
• Allowances to a citizen of India who is
government employee rendering services
outside India
• Allowances to HC & SC judges
• Allowances received by employee of UNO
from his employer
House Rent Allowance
House is in
• House Rent allowance: This (D,K,M,C)
allowance is taxable if an
Allowance
Assessee lives in his house
actually got
or in the house for which he
Rent pd in
does not pay any rent
excess of 10%
otherwise the exemption
of salary
limits are as follows: Least
of 3 is exempted from Tax.
50% of salary
House is any
other city
Allowance
actually got
Rent pd in
excess of 10%
of salary
40% of salary
Example for calculating HRA
• Mr. Z staying in Chennai receives Rs.12500 as basic
salary, Rs.1,500 as D.A.& commission Rs.60,000
P.A.Total salary Rs.2,28,000. House rent paid by him
Rs.2,500 p.m. H.R.A. per month is Rs.1800 per
month. Calculate taxable H.R.A. Excess of rent paid
over 10% of salary=7200(30000-22800)
50% of salary i.e Rs.1,14,000,Actual HRA recd.
Rs.21,600. Therefore exempted HRA will be least of
3 i.e Rs.7200 .
Perquisites which are taxable in the
hands of all employees:
• Rent free accommodation at concessional rate:
• If the accommodation is provided by the employer which is
owned by the Employer,20%of salary during which
accommodation was occupied by the employee is the value of
taxable perquisite
• If accommodation is taken on lease or rental the actual
amount of rent paid by the employer or 20% of salary
whichever is less is the value of perquisite.
For example:Mr. X is a regular employee in A ltd. With effect
from December 1 ,2006 ,Mr. X provided unfurnished flat for
which Employer is paying rent of Rs.7500 per month. Salary
earned during this period by Mr. is Rs.55,520. Calculate
taxable value of this perquisite? (Ans:11,104)
Valuation for furnished
accommodation:
• If the accommodation is furnished perquisite
value of such accommodation is to be
increased by the value which is equal to
10%per annum of the cost of furniture.
Example: In the same example if the furniture is
also provided by the employer the cost of
which is equal to Rs.36000. calculate the
value of furnished
accommodation.(ans:12,304)
Perquisites:
• If accommodation is provided in a Hotel, it is 24% of salary or
actual hotel charges whichever is less.
For example: Mr. X is a managing director of ABC(P) Ltd. Salary
for the purpose of calculating taxable perquisite Rs.1,79,000.
Rent paid for hotel accommodation is Rs.1,20,000. Calculate
Taxable value of this perquisite
• The value is nil if the accommodation is provided only for 15
days on transfer of employees from one place to another.
• Accommodation provided at specified remote area or mining
site or oil exploration, project execution site, dam site ,power
generation site.
Perquisites:
• Monetary obligation of employee discharged
by the employer is taxable to the extent of
actual amount spent by the employer.
e.g.: Gas, Electricity bill, children education exp.
• Life insurance paid by the Employer is Taxable
to the extent of actual amount spent by the
Employer.
Perquisites:
• Interest free or concessional loans:
 If the loan is given to the Employee only to the extent
of rs.20,000 there is no tax liability.
 If loan is applied to specified diseases, the perquisite
value is nil.
 In any other case for valuation purpose, interest rate
applicable by SBI for that previous year on the
maximum outstanding monthly balance – interest
recovered from customers.
Perquisites (illustrations)
•
1.
2.
3.
Determine the taxable value of perquisites in the following
cases:
X is employed by A ltd. On June06,the company gives an
interest free loan of Rs.14,00,000 repayable in 5 yrs. The
lending rate of SBI for similar loans8.5% per
annum(ans:99167)
C ltd. gives the following interest free loans to Z an
employee of the company-Rs.15,000 for a child's education
& Rs.5,000 for the purchase of refrigerator. No other loan is
given to C ltd.
Y is employed by B Ltd. On April 1,2006,he takes a
personal loan of Rs.25,000 from B Ltd. B Ltd. recovers
interest @ 7%p.a. Lending rate of SBI for similar loans is
12.5%.(ans:Rs.1438)
Perquisites:
• Use of movable Assets:
Use of Laptop & computer value is Nil
In case of any other Asset 10%per annum of
the value or the actual rent paid by the
Employer.
Taxable Perquisites for movable
Property:
Calculate the value of taxable perquisites in the
following cases:
• Mr. X is given laptop by the employer
company for office & private purpose. cost of
the laptop to the Employer is Rs.96,000.
• On Oct 15,2006 the company give its Music
System to Y for domestic use. (Ownership is
not transferred) Cost of the music system to
the Employer is Rs.15,000.
Transfer of movable assets:
• Movable assets belonging to Employer transferred to
Employee valuation is as under:
 Computer & Electronic items: Actual cost to the Employer50% cost for each year of completed service on W.D.V. basis
less any amount recovered from employee.
 Motor car: Actual cost to the Employer-20% for each year of
completed service on W.D.V basis less any amount recovered
from employee.
 Any other Asset: Actual cost to the Employer-10%of cost for
each year of completed service based on SLM less any
amount recovered from Employer.
Perquisites which are Taxable in the
hands of specified Employees:
• Who is specified Employee?
Employee comes under the following category:
He is Director of the company
He is having substantial interest in the working
of the company. i.e 20% or more voting power
His income from Salary from one or more
Employer excluding all the benefits provided
by way of monetary payment exceeds
Rs.50,000
Taxable Perquisites :Specified
Employees
• Provisions by Employer of services of a
sweeper,gardner,watchman or personal
attendant. Value = Actual cost to employer
• Supply of gas, electricity or water for
household consumption Value is equal to
(a) From own source value=Mfg.cost per unit
(b) In any other case value paid by employer
Taxable Perquisites:
• Free or concessional education facility to any
member of Employee
Educational Institute owned & maintained by
Employer
Value=Cost of education in similar institute in
nearby locality
Value= Nil up to 1000 p.m. per child of
employee (not others)
Tax Free Perquisites( For all
employees)
• Medical treatment to employee or his family member
in a hospital maintained by the Employer.
• Reimbursement of Medical treatment of Employee or
his family members up to Rs.15,000
• Health Insurance paid by employee under a scheme
approved by GIC
• Any Food or beverages provided by Employer in
office or factory or through paid vouchers which are
not transferable.
Tax free perquisites for all employees
• Perquisites which are payable by govt to its
employees for rendering services outside India.
• Rent free house /conveyance facility to H.C. &
S.C.Judges.
• Residence provided to officer of parliament, union
Minister or Leader of opposition in Parliament
• Employers contribution to Pension policy, deferred
annuity, staff group insurance plan
• Accident insurance policy premium paid by the
Employer
• Recreation facility to all Employees.
Following perquisites are tax free but
subject to FBT:
• Conference cost includes tour travel hotel exp.
Relating to conference(30% 0f 20% 0f the
value)
• Use of Health/sports club provided by
Employer(30% 0f 50% 0f the value)
• Expenses on Telephones (incl. mobiles) by
Employer(30% of 20% of the value)
ANY OTHER INDIVIDUAL BELOW 65 YEARS AGE
RATES OF INCOME-TAX
A. Normal Rates of tax:
1. Where the total income does not exceed Rs.1,00,000/-.
Nil
2. Where the total income exceeds Rs.1,00,000 but does not exceed
Rs.1,50,000/-.
10 per cent, of the amount by which the total
income exceeds is.1,00,000/3. Where the total income exceeds Rs.1,50,000/- but does not exceed
Rs.2,50,000/-.
Rs.5,000/- plus 20 per cent of the amount by
which the total income exceeds Rs.1,50,000/-.
4. Where the total income exceeds Rs.2,50,000/-.
Rs.25,000/- plus 30 per cent of the amount by
which the total income exceeds Rs.2,50,000/-.
Resident Women below 65 years age
B. Rates of tax for a woman, resident in India and below sixty-five years
of age:
1. Where the total income does not exceed Rs.1,35,000/-.
Nil
2. Where the total income exceeds Rs.1,35,000 but does not exceed total
income exceeds Rs.1,50,000/-.
10 per cent, of the amount by which the
Rs.1,35,000/3. Where the total income exceeds Rs.1,50,000/- but does not exceed
Rs.2,50,000/-.
Rs.1,500/- plus 20 per cent of the amount by
which the total income exceeds Rs.1,50,000/-.
4. Where the total income exceeds Rs.2,50,000/-.
Rs.21,500/- plus 30 per cent of the amount by
which the total income exceeds Rs.2,50,000/-.
C. Rates of tax for an individual, resident in India and of the age of sixtyfive years or more at any time (Senior citizen)
during the financial year:
1. Where the total income does not exceed Rs.1,85,000/-.
Nil
2. Where the total income exceeds Rs.1,85,000 but does not exceed
Rs.2,50,000/-.
20 per cent, of the amount by which the total
income exceeds Rs.1,85,000/3. Where the total income exceeds Rs.2,50,000/-.
Rs.13,000/- plus 30 per cent of the amount by
which the total income exceeds Rs.2,50,000/-.
Surcharge on income tax:
• The amount of income-tax computed in accordance with the preceding
provisions of this paragraph shall be increased
• by a surcharge at the rate of ten percent of such income tax where the
total income exceeds ten lakh rupees.
• additional surcharge ( Education Cess on Income Tax) at the rate of two
percent of the income-tax and surcharge.
Deduction under CH.VI-A
Deduction under CH.VI-A are not allowed for the
following incomes:
Long Term Capital Gain
Short term capital gain on securities for which
STT is paid
Winning from Lotteries
Deduction is not allowed if GTI is nil.
Deduction under Sec:80C
•
•
•
•
•
•
•
•
Allowed to Individuals & HUF
Maximum deduction allowed is rs.1,00,000
Tuition fees paid for children
Subscription to any units of Mutual fund mentioned
u/s10(23D)
Repayment of housing loan (principal Amount)
Subscription to Equity & Debentures for
infrastructure company.
Notified deposit scheme of public sector company
providing long term finance for housing
Contribution to NSC,NSS,PPF
Deduction under Sec:80C
• Payment to notified annuity plan of any
insurance company
• Term deposit equal to 5 years or more in
accordance with a scheme framed by the
Government.
• Life insurance premium maximum 20% of
policy which is for self /spouse/any child.
• For participation in unit linked insurance plan
• Employees contribution to statutory fund
Example:
X (age 42 years ) is a salaried employee (salary being Rs 40,000 per Month)
during the previous year 2006-07, he makes the following investment
deposits or payments
a)
Life insurance premium on life of his married daughter : Rs 6,000 Sum
assured Rs 20,000)
b)
Life insurance premium on his own life Rs 2,700 (sum assured 60,000)
c)
Life insurance premium on the life of his dependent sister Rs 10,000
d)
Contribution towards recognized PF Rs 9,000
e)
Contribution towards PPF Rs 30,000
f)
Repayment of lone taken from LIC for purchase of residential house
property Rs 30,000
g)
Contribution towards notified equity Linked saving scheme of UTI (i.e.
MEP 2007 :- Rs 14,000
Find out the tax liability of X for the assessment year 2007-08 assuming that
income from house property is 18,000/-
Find out the Tax Liability in the cases given below for assessment
year 2007-08
X
Y
Z
A
42
31
25
55
260000
196000
310000
426000
Public Provident Fund
-
70000
50000
40000
Recognized Provident Fund
-
40000
16000
6000
Notified Equity Linked Saving scheme
MEP 07
-
-
15000
15000
100000
-
26000
2000
Age
Gross Total Income
Investment Contribution for
deduction under 80C
Notified bonds of Infrastructure
company
Sec:80CCC & Sec:80CCD
• Sec:80CCC & 80 CCD are meant for pension policy.
• Section 80CCC for the contribution towards pension
fund set up by the private organization.
• Section 80CCD is pension scheme to new Entrants
to Government Service. As per the scheme it is
mandatory for every person entering the service of
Central Government on or after Jan.1,2004 to
contribute 10% of salary every month towards their
pension account
• The aggregate amount of deduction under section
80C,80CCC&80CCD cannot exceed Rs.1,00,000.
Sec: 80D Medical Insurance: in
• Insurance premium paid by the Taxpayer in
accordance with the scheme framed in this behalf by
central government. The scheme is known by the
name of Mediclaim insurance policy. Amount
deposited under a similar scheme of any other
insurer who is approved by IRDA shall be eligible for
deduction.
• This premium is paid by cheque.
• If all the conditions are satisfied ,deduction is equal
to insurance premium actually paid or Rs.10,000
whichever is less.
Deduction under Sec:80DD
• Deduction is available for the amount incurred or
amount deposited under any scheme framed by LIC
or any other insurer for the purpose of medical
treatment of dependent.
• If it is minor disability deduction is available for the
fixed amount which is equal to Rs.50,000 & for the
severe disability the deduction available is equal to
Rs.75,000.
• Sec:80DDB is for medical treatment of specified
disease maximum to the extent of rs.40,000.
Deduction under sec:80E
• Deduction is available for an individual who
has taken loan for the purpose of higher
education for any full time graduation or post
graduation course.
• Deduction is available for the interest amount
paid on Loan.
Illustration for deduction under Sec:80E
Particulars
Loan
1
Loan
2
Loan
3
X
X
Daug
of X
Amount of Loan
6L
3L
5L
Annual repayment of Loan during the period
1L
0.5L
1L
Annual payment of interest during the previous year
0.6
0.3
For whom education loan is taken
Purpose of Loan
Find out the amount of deduction under sec:80E for
assessment year 2007-08
0.55
Donations: U/S 80G:
• It is for different types of Donation. This
deduction is available when proof of Donation
is attached with the return.
• The amount of donation should not exceed
10% of adjusted total income of the business
except the donation which is eligible for 100%
donation under this section.
• Adjusted income is after considering the
deductions u/s 80C to 80U
Deduction under Sec:80GG
• The tax payer is an individual not getting any
HRA from the company or he is a self
employed person.
• The deduction will be least of the following:
Rs.2,000 per month
25% of total income
The excess of 10% of total income.
Deduction U/S 80U
• Person with physical disability
• For severe disability deduction is available for
a fixed amount of Rs.75,000 or Rs.50,000.
• The assessee has to give a certificate by the
Medical authority.
• If assessee is claiming deduction u/s 80U , the
person on whom he is dependant should not
claim any deduction under sec:80DD
Income from House Property:
• If the property is self occupied annual value of this
property is NIL.
• If the property is purchases after 1.4.99, & if the loan
is taken for the purchase & construction of house
property , deduction is available for the interest
amount to the extent of Rs.150,000 . For the
principal amount individual will get deduction u/s80C
• In case of repairs of self occupied property deduction
is available to the extent of Rs.30,000
If the house property is let out…..
• Gross annual value of the property is the actual
amount of rent received or the standard rent given
under rent control act or fair rent whichever is high.
• From this gross value municipal taxes paid are
deducted.
• From net annual value Repairs deduction is equal to
the 30% of the value & Interest on borrowed capital
is allowed maximum to the extent of Rs.30,000 for let
out property.
Short term & Long term capital gain
• Short term capital gain on transfer of equity shares
or units of an equity oriented mutual fund on or after
1.10.2004 i.e., the date on which security transaction
tax has come into force shall be subject to a flat rate
of 10% u/s 111A.
• Long term capital gain on transfer of equity shares of
a company or units of equity oriented fund arising on
or after 1.10.2004 & subject to security transaction
tax is fully exempted u/s 10(38)
Example:
• Mr. X is Assistant Manager in a leasing co. at
Delhi has the following incomes, expenses &
investments during 2006-07. Calculate his
taxable income & tax payable
(a) Gross Salary Rs.2,30,000 (b) Rent for
commercial house property Rs.51,000,house
tax paid during the period is Rs.4,000 (c) The
assessee has self occupied property, Interest
on this loan is Rs.31,000 availed in March,98.
Example…….
• (e) Sale consideration for shares sold during the
period is Rs.2,00,000(cost of acquisition in June
2003Rs.84,740)(f) short term capital gain Rs.5000
on which security transaction tax paid is 0.125%(g)
Interest on debenturesRs.3,000
(h) Bank Interest/post office monthly income
Rs.12,000(i)Dividends from UTIRs.4,000(j)int on
relief bond tax free)Rs.5,400(k)dividend on shares in
companies rs.5,000 (l) Premium on life insurance
policy, contribution to PF, Repayment of housing loan
total Rs.1,00,000.
Compulsory filing of return under one
by six scheme:
• Person residing in a specified area & fulfilling one of the
following six criteria's shall liable to pay income tax return
• Occupying an immovable property exceeding specified floor
area.
• Owner or Lessee of a 4 wheeler motor vehicle
• Subscriber to a cellular phone
• Incurred expenditure for foreign tour for himself or any other
person.
• Holding a credit card
• Holding membership of a club for membership fee is
Rs.25,000
• Incurred expenditure Rs.50,000 or more towards electricity.
Time for filing of return(due dates)
1 Companies
31st October
2 Assessee other than company whose
accounts are required to be audited uner i
income tax act or any other law
31st October
3 A working partner of a firm whose accounts
are required to be audited
31st October
4 Assessee other than company covered under
one by six scheme
5 all other assessee
31st October
31 st July
Annual Information Return: form 65
Sr
Nature & value of
Persons responsible for
no
transactions
furnishing A.I.R.
1 Cash Deposit of Rs.10,00,000
or more in a year in a saving
Bank
account
2 Payment of credit card holder
Bank, company, institution
of Rs.2,00,000 or more
issuing such credit card
during in a year
3 Receipt from any person of
Rs.2,00,000 for acquiring
units of a mutual fund
Trustee, authorised
person of mutual fund
Annual Information Return.
4.
Receipt from any person
Rs.5,00,000 for or more for
acquiring shares
Company, Institution issuing bonds
acquiring bonds or debentures
5.
Receipt from any person of
100000 or more for acquiring
shares
Company issuing shares through
Public/ right issue
6.
Purchase or sale of immovable
property of Rs.30,00,000 or
more
Registrar / Sub Registrar
7. Receipts from any person of Rs
500000 or more in a year for
acquiring RBI Bonds
Authorized Person of RBI bonds
Advance Tax:
• All assessee including salaried Employees if
tax payable by the person (after deducting
rebates,TDS,Deduction) exceeds Rs.5,000.
Advance Tax Installments & due
dates:
Due date for payment of
Advance Tax
For non company
For company
assessee
By 15 th June
Nil
15% of advance tax
By 15 th Sept
30% of advance tax 30% of advance tax
By 15th December
30% of advance tax 30% of advance tax
By 15 th March
40% of advance tax 25% of advance tax
Tax Deducted at Source
• Tax deducted at source means before getting
any source of income tax is deducted on such
payments.
• Following persons are liable to deduct tax at
source:
• Individuals (incl.sole proprietary concern) &
HUF carrying the business or profession
whose turnover exceeds Rs.40 lacs or 10 lacs
if it is income from Profession.
Payment on which tax is to be
deducted at Source:
Name of the payment
How tax is deducted at source
Salary
Sec:192
Interest on securities
Interest on time
deposits
If it exceeds Rs.2,500 TDS is
10.2%
If it exceeds Rs.5,000 TDS is
10.2%
Winning from lotteries
30.6% if it exceeds Rs.5000
Insurance Commi.
10.2%
Tax deducted at source
Payment to advertising ag. 1.02%
Payment to Contractor
Payment to sub contractor
Payment of repurchase of
units under ELSS
Payment on withdrawal
from NSS
2.04%
1.02%
20..4%
Payment of rent to any
person other than ind,huf
20..4%
20..4%
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