IT Exemption on Gratuity – 20 lakhs w.e.f. 29.3.2018 Income tax exemption for gratuity increased from Rs.10 lakhs to 20 lakhs w.e.f. 29.3.2018 Income tax exemption for gratuity enhanced Up to Rs. 20 lakhs Ministry of Finance has enhanced the income tax exemption for gratuity … [Read more...] about Income tax exemption for gratuity enhanced Up to Rs. 20 lakhs
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Income Tax Exemption Limit
New form to claim tax rebate on LTA, HRA
New form to claim tax rebate on LTA, HRA NEW DELHI: The income tax department has come out with a standard Form 12BB for salaried taxpayers to claim tax deduction on leave travel allowance concession (LTALTC), house rent allowance (HRA) and interest paid on home loans. Taxpayers will have to … [Read more...] about New form to claim tax rebate on LTA, HRA
Annual Budget 2016 – Will the income tax slab increase? Or, will it not?
Annual Budget 2016 – Will the income tax slab increase? Or, will it not? “It is important to keep in mind the expectations of Central Government employees, who accurately calculate and set aside more than their one month’s salary to pay income tax each year.” The annual budget of 2016 is being … [Read more...] about Annual Budget 2016 – Will the income tax slab increase? Or, will it not?
Raise Personal Income Tax Exemption Limit to Rs 4 lakh – Assocham
Raise Personal Income Tax Exemption Limit to Rs 4 lakh – Assocham Budget-2016-17: Revision in IT exemption to at least Rs 4 lakh minimum expectation of common-man Monday, February 15, 2016 Revision in the income tax exemption limit to at least Rs four lakh is the most important and pressing … [Read more...] about Raise Personal Income Tax Exemption Limit to Rs 4 lakh – Assocham