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House Rent Allowance (HRA) – Exemption And Tax Deduction

Payroll Glossary

House Rent Allowance (HRA) constitutes a vital element within the compensation structure of numerous professionals. Notably, HRA enjoys...
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Professional Tax – Meaning, Slabs & Exemptions

Payroll Glossary

If you go through all your payslips, you will notice the reduction with the name Professional Tax. The state you live in is responsible for...
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Special Allowance – Taxation & Calculation

Payroll Glossary

Special allowances emerge as pivotal components designed to cater to diverse needs within organizations. These designated sums of money...
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ULIP – Meaning & Benefits

Employee Support

Unit Linked Insurance Plans (ULIP) represent a comprehensive financial instrument that seamlessly combines the advantages of both...
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Public Provident Fund (PPF) – Features and Tax Benefits

Employee Support

Welcome to the world of financial planning and secure investments! Since its inception in 1968, the Public Provident Fund (PPF) has been a...
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National Savings Certificate (NSC) – Eligibility, Interest Rate & Benefits

Employee Support

The National Savings Certificate (NSC) is a robust financial instrument initiated by the Government of India. This fixed-income investment,...
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ELSS Funds – Features and Investment

Business Enablement

Understanding the tax implications of your investment decisions is a critical aspect of financial planning. Overlooking the tax...
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Senior Citizen Savings Scheme (SCSS) – Meaning, Features & Eligibility

Employee Support

In a great move, Budget 2023 has ushered in a transformative change for senior citizens in India by enhancing the maximum deposit limit in...
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Wealth Creation – Meaning, Importance, and Tips

Employee Support

If we refer to the dictionary’s definition of wealth, it signifies abundance. In the context of money, it translates to having an...
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Salary Breakup Structure – Format & Calculation

Payroll Glossary

A salary breakup structure, also known as a CTC (cost-to-company) breakup structure, is a comprehensive breakdown of the various components...
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