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$30 Billion Wiped Off India Stocks As Tax Clarity Eludes Market
Finance Minister Nirmala Sitharaman in her budget speech Friday proposed to increase the surcharge from 15 per cent to 25 per cent for those with taxable incomes of between Rs 2 crore and Rs 5 crore, and to 37 per cent for those earning more than Rs 5 crore. This takes the effective tax rate for those two groups to 39 per cent and 42.74 per cent, r...
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From Section 80C To Section 80GG Of I-T Act: 5 Ways You Can Reduce Your Income Tax Liability
Over and above of the Rs. 1.50 lakh deduction allowed under section 80C of the Income Tax Act, 1961, one can claim an extra exemption of Rs. 50,000 by making investments in the National Pension System (NPS). An assessee can claim exemption of up to Rs. 2 lakh on the total taxable income by investing in NPS.
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New Income Tax Rules Come Into Effect. Details Here In 10 Points
Aadhaar number will be a must while applying for PAN as well as filing of income tax returns. To curb black money, the limit on cash transactions has been set at Rs. 2 lakh.
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Jewellery Purchase In Cash Above Rs 2 Lakh To Attract Tax From April 1: Report
The Income Tax Department has been levying 1 per cent TCS on cash purchase of bullion in excess of Rs 2 lakh and jewellery in excess of Rs 5 lakh since July 1, 2012.
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New Income Tax Rates And Deductions Applicable From April 1, 2017
There are many exemptions available in the Income Tax Act, which can substantially reduce your tax liability.
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Union Budget 2017: Income Tax Rates Dropped, See Details Here
Finance Minister Arun Jaitley today halved the income tax rate for persons earning between Rs 2.5 lakh and 5 lakh to 5 per cent, from the earlier 10 per cent. He also said that Rs 5,000 rebate in tax that people with an income up to Rs 5 lakh a year get, has been reduced to Rs 2,500 for those who earn up to Rs 3.5 lakh.
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Union Budget 2017: Here Are The Changes In Income Tax Rules. You Can Save Rs 12,500
The finance minister said that the existing rebate of Rs 5,000 available on income up to Rs 5 lakh has been reduced to Rs Rs 2,500 and will be applicable to assessees up to income of Rs 3.5 lakh.
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2 Ex-Army Men Among 6 Held for Allegedly Extorting Delhi Businessman
Two former Indian Army men have been arrested with four of their associates for extorting a Delhi businessman of Rs 5 lakh by posing as sales tax and income tax officials, police said on Tuesday.
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What If You Missed Your Tax Filing Deadline
Income tax returns for the assessment year 2013-14 have to be compulsorily filed by everyone whose income is over Rs 2 lakh. If one has a taxable income of over Rs 5 lakh, one has to compulsorily file the returns online.
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Budget 2014: Tax Exemption Limit Raised to Rs 2.5 Lakh
Salaried class has got something to cheer with Finance Minister Arun Jaitley today raising tax exemption limit to Rs 2.5 lakh from Rs 2 lakh, providing a relief of Rs 5,000.
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Budget 2013: Tax credit of Rs 2,000 for persons with income up to Rs 5 lakh
Giving small relief to tax payers, Finance Minister P Chidambaram today announced a tax credit of Rs 2,000 for persons with income up to Rs 5 lakh.
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MPs want IT exemption limit hiked to Rs 5 lakh
The Standing Committee on Finance, which met under the chairmanship of senior BJP leader Yashwant Sinha, has decided to finalise its report by March 2, enabling Parliament to consider the ambitious reforms in direct tax regime.
-
$30 Billion Wiped Off India Stocks As Tax Clarity Eludes Market
Finance Minister Nirmala Sitharaman in her budget speech Friday proposed to increase the surcharge from 15 per cent to 25 per cent for those with taxable incomes of between Rs 2 crore and Rs 5 crore, and to 37 per cent for those earning more than Rs 5 crore. This takes the effective tax rate for those two groups to 39 per cent and 42.74 per cent, r...
-
From Section 80C To Section 80GG Of I-T Act: 5 Ways You Can Reduce Your Income Tax Liability
Over and above of the Rs. 1.50 lakh deduction allowed under section 80C of the Income Tax Act, 1961, one can claim an extra exemption of Rs. 50,000 by making investments in the National Pension System (NPS). An assessee can claim exemption of up to Rs. 2 lakh on the total taxable income by investing in NPS.
-
New Income Tax Rules Come Into Effect. Details Here In 10 Points
Aadhaar number will be a must while applying for PAN as well as filing of income tax returns. To curb black money, the limit on cash transactions has been set at Rs. 2 lakh.
-
Jewellery Purchase In Cash Above Rs 2 Lakh To Attract Tax From April 1: Report
The Income Tax Department has been levying 1 per cent TCS on cash purchase of bullion in excess of Rs 2 lakh and jewellery in excess of Rs 5 lakh since July 1, 2012.
-
New Income Tax Rates And Deductions Applicable From April 1, 2017
There are many exemptions available in the Income Tax Act, which can substantially reduce your tax liability.
-
Union Budget 2017: Income Tax Rates Dropped, See Details Here
Finance Minister Arun Jaitley today halved the income tax rate for persons earning between Rs 2.5 lakh and 5 lakh to 5 per cent, from the earlier 10 per cent. He also said that Rs 5,000 rebate in tax that people with an income up to Rs 5 lakh a year get, has been reduced to Rs 2,500 for those who earn up to Rs 3.5 lakh.
-
Union Budget 2017: Here Are The Changes In Income Tax Rules. You Can Save Rs 12,500
The finance minister said that the existing rebate of Rs 5,000 available on income up to Rs 5 lakh has been reduced to Rs Rs 2,500 and will be applicable to assessees up to income of Rs 3.5 lakh.
-
2 Ex-Army Men Among 6 Held for Allegedly Extorting Delhi Businessman
Two former Indian Army men have been arrested with four of their associates for extorting a Delhi businessman of Rs 5 lakh by posing as sales tax and income tax officials, police said on Tuesday.
-
What If You Missed Your Tax Filing Deadline
Income tax returns for the assessment year 2013-14 have to be compulsorily filed by everyone whose income is over Rs 2 lakh. If one has a taxable income of over Rs 5 lakh, one has to compulsorily file the returns online.
-
Budget 2014: Tax Exemption Limit Raised to Rs 2.5 Lakh
Salaried class has got something to cheer with Finance Minister Arun Jaitley today raising tax exemption limit to Rs 2.5 lakh from Rs 2 lakh, providing a relief of Rs 5,000.
-
Budget 2013: Tax credit of Rs 2,000 for persons with income up to Rs 5 lakh
Giving small relief to tax payers, Finance Minister P Chidambaram today announced a tax credit of Rs 2,000 for persons with income up to Rs 5 lakh.
-
MPs want IT exemption limit hiked to Rs 5 lakh
The Standing Committee on Finance, which met under the chairmanship of senior BJP leader Yashwant Sinha, has decided to finalise its report by March 2, enabling Parliament to consider the ambitious reforms in direct tax regime.
