SAS UPDATE DETAILS FOR ALL PRINCIPALS

Hello to all the principals, we have to update some information from the school level following the instructions of the Hon’ble Director. Such as, the standards and subjects taught by the teacher, the position of the teacher. Month of increments. The mobile number of the school and the principal of the school, we will get a simple explanation of how we will update this information in the next slide.

The Income Tax Act provides that on the determination of the gross total income of an assessee after considering income from all the heads, certain deductions therefrom may be allowed. These deductions detailed in chapter VIA of the Income Tax Act must be distinguished from the exemptions provides in Section 10 of the Act.

While the former are to be reduced from the gross total income, the latter do not form part of the income at all. 5.2 The chart given below describes the deductions allowable under chapter VIA of the I.T. Act from the gross total income of the assessees having income from salaries.

The total income of an assessee is determined after deductions from the gross total income are made as discussed in the previous chapter. It is on this total income that the tax payable is computed at the rates in force. The Income Tax Act further provides for a rebate from the tax payable as computed above, if certain investments or payments are made.

Rebate provided u/s 88 of the Act must be distinguished from deductions provided in Chapter VIA of the Act. While the latter reduces the gross total income, a rebate is a reduction from the tax payable.

P.A.N. or Permanent Account Number is a number allotted to a person by the Assessing Officer for the purpose of identification. P.A.N. of the new series has 10 alphanumeric characters and is issued in the form of a laminated card.

Note: Plz always check and confirm the above details with the official website and Advertisement/ notification.

Also Read TRANSFER ONLINE ENTRY IN SAS GUJARAT