Income Tax : Discover the most important exemptions under the Income Tax Act Section 10. Learn about various categories of income that are exem...
Income Tax : The rates of income-tax in the case of every individual (other than those mentioned in (ii) and (iii) below) or Hindu undivided fa...
Income Tax : Personal income tax exemption limit should be further increased by Rs 50000 and slab limits should be revised accordingly. Current...
Income Tax : Many other suggestions include need for over hauling of tax structure, and minimum tax exemption limit be raised to Rs. 5.00 lakh ...
Income Tax : Exemption Limit for Individual Taxpayers Raised to Rs. 2 Lakh. Upper Limit of 20 Per Cent Tax Slab Raised to Rs. 10 Lakh Deduction...
Income Tax : Although the Committee had suggested raising the tax exemption limit to Rs 3 lakh, it is unlikely that Mukherjee will agree to it ...
Income Tax : Key recommendations of the Parliament Standing Committee on Finance Raise annual income limit for I-T from Rs 1.8 lakh to Rs 3 ...
Income Tax : The committee, according to sources, wants the government to raise the income tax exemption limit to Rs 3 lakh in view of the near...
The government may raise the income tax exemption limit in the upcoming Budget to provide some relief to the taxpayer from inflation, Goldman Sachs said today. “Income tax relief can be provided to lower income brackets to compensate for inflation. This could take the form of raising the tax exemption limit from the current Rs 1.6 lakh,” it said in a report.
The government must increase the personal income tax exemption limit to at least Rs 3 lakh from Rs 1.6 lakh at present in the upcoming Budget for giving relief to taxpayers from high inflation, majority of CEOs surveyed by industry body Assocham has
In a move that could leave more money in the hands of people, the Government on Thursday proposed to raise exemption limit on income tax from the present Rs 1.6 lakh to Rs 2 lakh. The Cabinet approved the much-awaited Direct Taxes Code (DTC) Bill, which is likely to be tabled in Parliament during the ongoing Monsoon session and thereafter it may be referred to standing committee.
Personal income tax exemption limit should be further increased by Rs 50000 and slab limits should be revised accordingly. Currently, the threshold tax exemption limit for all assessees – for women is Rs 1,90,000, for senior citizen is Rs 2,40,000 and for others is Rs 1,60,000.
