Print Form Clear Form Check For Updates OREB Form No. 16 March 2007 11 Times-Roman RESIDENTIAL LEASE THIS RESIDENTIAL LEASE is made the ......................................................................................
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So good morning guys I had earlier promise that I will be making a few important all series on important forms for income tax and I think bomb system is right up there well first and foremost let's please understand that income is under five heads salary capital means business profession house properly other sources for people who have income from salary head say that I mean say suppose I am employed or like you are employed or anybody who is employed they are like chemo they have the right to claim form system form an employer now what is this form system basically form sixteen is a form given by the employer to the employee say I am working for Reliance say I'm working for the lands reliance is supposed to provide me with function at the end of the year and this form contains details of my salary so like all people who have income from the salary head form which things are very important form so it contains not only details of the salary but also tedious deducted by the employer on the salary income now this PDS is deducted under Section 192 and how much is deducted well like you know for salary the tedious is as per the tax lapse presently like if we are in conventionally a 1314 that is assessment year 2014-15 the tax labs are for a normal non senior resident individual likely zero to two nil two to five ten five to ten twenty percent and above ten thirty percent since my let's see like so I just hope that you understand that part right so this is just showing like you know like quarter one quarter two quarter three quarter for us like the four quarters so if this is like for the financial year 2000 kanashii aku's on quilted so like there are four quarters April to June July to September October to December and then January March so this is the first quarter and the forms it's been specifies of how much tedious has been deducted with respect to the employees in brown okay so you can see like this all of the receipt numbers and everything so this really helps you like while you fill in your return you know that okay this mysterious has been deducted we're all salaries like the total salary which is given to you obviously this total salary is not taxable there ways other things like you know the purposes is not taxable these are exemptions given to you so the HR exemption the leaving catchment and other things which I exempted I mean they form a part of your salary however they are not taxable because they are exempted so like say you have hundred rupees salary but office thirty rupees an exemption then you have to pay tax on than seventy similarly there is HR exemption leaving catchment gradually purpose it's you've travelled other ones and all those things they are neatly written here because they comprise the part of your salary but they don't comprise the part of your taxable salary there's a big difference then obviously you have deductions as well so entertainment allowance and tax on employment this is on the other will be government...