Simple one- page Income Tax Return form – FM “A simple one- page Income Tax Return form for the category of individuals having taxable income upto Rs 5 lakhs other than business income.” “Finance Minister Shri Jaitley said that the present burden of taxation is mainly on honest tax payers and … [Read more...] about Simple one- page IT Return form – FM
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Income Tax
Salient Features of Direct Tax Proposals in Budget 2017
“Personal Income Tax: Personal income tax for people with income in the slab of 2.5 lakh to 5 lakh to be reduced to 5% instead of 10%. This will reduce their tax liability to half while all other tax payers above this slab will also be benefited in terms of lesser tax of Rs.12,500 per individual … [Read more...] about Salient Features of Direct Tax Proposals in Budget 2017
Budget 2017 : IT reduced by 5% for Income upto Rs. 5 lakh
Budget 2017 : Income tax reduced by 5% for Income upto Rs. 5 lakh NEW INCOME TAX RATES 2017-18 (ASSESSMENT YEAR 2018-19) Total Income Normal Rates of Income Tax Rs.2,50,000 to Rs.5,00,000 5% All taxpayers above 5 lakh rupees to get benefit of … [Read more...] about Budget 2017 : IT reduced by 5% for Income upto Rs. 5 lakh
INCOME-TAX DEDUCTION FROM SALARIES DURING THE FY 2016-17 – Finmin Orders
Income Tax Rates FY 2016-17 (AY 2017-18) – Finmin Orders CIRCULAR NO : 01/2017 F.No.275/192/2016-IT(B) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi Dated the 2nd January, 2017 SUBJECT: INCOME-TAX DEDUCTION FROM SALARIES … [Read more...] about INCOME-TAX DEDUCTION FROM SALARIES DURING THE FY 2016-17 – Finmin Orders
Ceiling on IT for salaried persons should be raised to Rs.7.5 lakh: AIBEA to Finance Minister Arun Jaitley
Ceiling on IT for salaried persons should be raised to Rs.7.5 lakh: AIBEA to Jaitley The ceiling on Income Tax for salaried persons should be raised upwardsto Rs 7.5 lakh with exclusion of fringe benefits like housing,medical and educational facilities. The IT rate above Rs 7.5 lakh and upto Rs 12 … [Read more...] about Ceiling on IT for salaried persons should be raised to Rs.7.5 lakh: AIBEA to Finance Minister Arun Jaitley