Personal IT exemption may go up to Rs 5 lakh The Budget FY16 may carry an assurance, possibly fortified by a new insertion into the Income Tax Act, that the 2012 retrospective amendments to tax laws won’t be invoked afresh for transactions that were … [Read more...] about Personal IT exemption may go up to Rs 5 lakh
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Income Tax
Exemption in lieu of 80C tax benefits
Exemption in lieu of 80C tax benefits In a bold move to simplify tax laws, the finance ministry is considering a plan to replace the tax benefits given to individuals for investing in specified savings instruments such as life insurance and … [Read more...] about Exemption in lieu of 80C tax benefits
INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 2014-15
INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 2014-15 CIRCULAR NO : 17/2014 F.No. 275/192/2014-IT(B) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi Dated 10th … [Read more...] about INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 2014-15
Income Tax Rates For Assessment Year 2015-16
Income Tax Rates For Assessment Year 2015-16 The rates of income-tax as applicable for Assessment Year 2015-16 for the following category is given below:- in the case of every individual below the Age of Sixty Years For a resident senior … [Read more...] about Income Tax Rates For Assessment Year 2015-16