Leave travel allowance (LTA) is a common form of tax exemption given to the employees by most employers. LTA is exempt from tax u/s 10(5) of Income Tax Act, 1961. While it may appear a fairly straightforward concept, it often brings about a lot of questions among those claiming exemption on it. Employees who are…
Usually bonuses are treated as a reward for exemplary performance. Although in some cases companies have a policy of handing out year-end bonuses to everyone. This beloved corporate tradition has been around for quite some time, giving employees something to look forward to come year-end. But is this long-time tradition still relevant in today’s workplace?…
It’s that time of the year where employees can expect (or rather secretly hope) to receive extra income. It could come from annual bonus, increment or in terms of salary arrears. This is also the period wherein people change jobs after getting an increment in hopes of increasing their income by 30%-40%. Irrespective of the…
