Standard Deduction
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Budget 2025: What Is Standard Deduction And How It Benefits Taxpayers
With the Union Budget 2025 set to be presented on February 1, Finance Minister Nirmala Sitharaman faces mounting expectations for tax relief as inflation rises and disposable income shrinks.
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How Much Those Earning Between Rs 10-25 Lakh Will Save In Taxes Now
Finance minister Nirmala Sitharaman on Tuesday increased the standard deduction for salaried employees from Rs 50,000 to Rs 75,000.
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Union Budget 2024: Aimed At Helping Automotive Retail Industry
The auto industry reacts to the Union budget 2024 with a positive approach. It believes the adjustments in personal taxation could improve retail.
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"Save As Much As Rs 17,500": Finance Minister on New Tax Regime Slabs
Standard deduction in the new tax regime will be increased from Rs 50,000 to Rs 75,000, Finance Minister Nirmala Sitharaman said Tuesday as she announced the 2024 Union Budget.
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Budget 2022: 6 Things Salaried Class Wants
Special WFH deduction, increase in standard deduction and modifications in the new tax regime are high on individual taxpayers wishlist.
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Budget 2021: Crucial Income Tax Changes In Past Budgets
The government has made some drastic changes in income tax rules over the years, ranging from changes in income tax rates to reintroduction of standard deduction and a higher income threshold for rebate
-
Budget For The Common Man: Key Income Tax Changes Announced In Past Budgets
Union Budget 2020: From changes in income tax rates to the reintroduction of standard deduction and a higher income threshold for rebate, the government has made a few changes in the income tax rules over the past few years.
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How Much Income Tax You Can Save In Assessment Year 2020-21
Income tax changes: From the 25 per cent increase in standard deduction threshold to the existing Section 80C deductions, the taxpayer can make use of income tax laws to make most of the income earned in assessment year 2020-21.
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Budget 2019: Income Tax Changes And How They Will Impact You
While keeping the income tax slabs unchanged, Union Minister Piyush Goyal proposed a full tax rebate on annual personal income up to Rs 5 lakh. He also announced an increase in standard deduction limit for salaried individuals to Rs 50,000, from Rs 40,000.
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How To Calculate Income Tax For Assessment Year 2020-21
Budget 2019: Wondering how to calculate income tax for 2020-21 (assessment year)?Here are key changes to income tax laws announced by the government in its February 1, 2019 budget. From tax benefit on income tax up to Rs 5 lakh a year to a 25 per cent increase in standard deduction, here's all you need to know to know your income tax outgo in the c...
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Tax Gift For "Great Indian Middle Class" As Government Preps For Polls
A full tax rebate to individuals with income up to Rs 5 lakh in a year has been proposed in Budget 2019. Besides, a raise in standard deduction limit - wherein employees and pensioners are given a flat relief from taxable income - from Rs 40,000 in a year to Rs 50,000 has also been proposed.
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Budget 2019: Here's What Experts Say On Announcements
Budget 2019: In the budget speech, Mr Goyal proposed to double the threshold tax exemption limit to Rs 5 lakh and increased the standard deduction to Rs 50,000 from Rs 40,000.
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Why Senior Citizens Are Real Beneficiaries Of Flat Deduction Of Rs 40,000
Any taxpayer who is in receipt of pension from his former employer shall be entitled to claim a deduction of Rs. 40,000 or the amount of pension.
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Standard Deduction Of Rs 40,000 Available For Pensioners. Details Here
Income Tax (IT) department clarified that pension qualifies as salary and is thus eligible for standard deduction of up to Rs 40,000.
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10 Key Changes In Income Tax Rules That Came Into Effect From April 1
In Budget 2018, among the other income tax changes proposed, a standard deduction of Rs 40,000 for the salaried class was introduced.
-
Budget 2025: What Is Standard Deduction And How It Benefits Taxpayers
With the Union Budget 2025 set to be presented on February 1, Finance Minister Nirmala Sitharaman faces mounting expectations for tax relief as inflation rises and disposable income shrinks.
-
How Much Those Earning Between Rs 10-25 Lakh Will Save In Taxes Now
Finance minister Nirmala Sitharaman on Tuesday increased the standard deduction for salaried employees from Rs 50,000 to Rs 75,000.
-
Union Budget 2024: Aimed At Helping Automotive Retail Industry
The auto industry reacts to the Union budget 2024 with a positive approach. It believes the adjustments in personal taxation could improve retail.
-
"Save As Much As Rs 17,500": Finance Minister on New Tax Regime Slabs
Standard deduction in the new tax regime will be increased from Rs 50,000 to Rs 75,000, Finance Minister Nirmala Sitharaman said Tuesday as she announced the 2024 Union Budget.
-
Budget 2022: 6 Things Salaried Class Wants
Special WFH deduction, increase in standard deduction and modifications in the new tax regime are high on individual taxpayers wishlist.
-
Budget 2021: Crucial Income Tax Changes In Past Budgets
The government has made some drastic changes in income tax rules over the years, ranging from changes in income tax rates to reintroduction of standard deduction and a higher income threshold for rebate
-
Budget For The Common Man: Key Income Tax Changes Announced In Past Budgets
Union Budget 2020: From changes in income tax rates to the reintroduction of standard deduction and a higher income threshold for rebate, the government has made a few changes in the income tax rules over the past few years.
-
How Much Income Tax You Can Save In Assessment Year 2020-21
Income tax changes: From the 25 per cent increase in standard deduction threshold to the existing Section 80C deductions, the taxpayer can make use of income tax laws to make most of the income earned in assessment year 2020-21.
-
Budget 2019: Income Tax Changes And How They Will Impact You
While keeping the income tax slabs unchanged, Union Minister Piyush Goyal proposed a full tax rebate on annual personal income up to Rs 5 lakh. He also announced an increase in standard deduction limit for salaried individuals to Rs 50,000, from Rs 40,000.
-
How To Calculate Income Tax For Assessment Year 2020-21
Budget 2019: Wondering how to calculate income tax for 2020-21 (assessment year)?Here are key changes to income tax laws announced by the government in its February 1, 2019 budget. From tax benefit on income tax up to Rs 5 lakh a year to a 25 per cent increase in standard deduction, here's all you need to know to know your income tax outgo in the c...
-
Tax Gift For "Great Indian Middle Class" As Government Preps For Polls
A full tax rebate to individuals with income up to Rs 5 lakh in a year has been proposed in Budget 2019. Besides, a raise in standard deduction limit - wherein employees and pensioners are given a flat relief from taxable income - from Rs 40,000 in a year to Rs 50,000 has also been proposed.
-
Budget 2019: Here's What Experts Say On Announcements
Budget 2019: In the budget speech, Mr Goyal proposed to double the threshold tax exemption limit to Rs 5 lakh and increased the standard deduction to Rs 50,000 from Rs 40,000.
-
Why Senior Citizens Are Real Beneficiaries Of Flat Deduction Of Rs 40,000
Any taxpayer who is in receipt of pension from his former employer shall be entitled to claim a deduction of Rs. 40,000 or the amount of pension.
-
Standard Deduction Of Rs 40,000 Available For Pensioners. Details Here
Income Tax (IT) department clarified that pension qualifies as salary and is thus eligible for standard deduction of up to Rs 40,000.
-
10 Key Changes In Income Tax Rules That Came Into Effect From April 1
In Budget 2018, among the other income tax changes proposed, a standard deduction of Rs 40,000 for the salaried class was introduced.
