Tag: Income Tax Exemption Limit
Rajiv Gandhi Equity Savings Scheme (RGESS) : Operational Features approved by FM
Ministry of Finance 21-September, 2012
Finance Minister approves the Operational Features of the Rajiv Gandhi Equity Savings Scheme (RGESS)
The [...]
Exemption of Salaried Employees from Requirement of Filing of Returns for Assessment Year 2012-13
Central Board of Direct Taxes (CBDT) vide its Notification No. 9/2012 dated 17th February, 2012 has exempted salaried employees from the requirement o [...]
More Tax Saving Option other than Section 80C
Most taxpayers are aware of the deductions available under Section 80C, the tax benefits of medical insurance and the advantages of a home loan. But [...]
Direct tax code to be made operational by 2013
Union Finance Minister Pranab Mukherjee on Saturday said the Direct Tax Code (DTC) would be made operational by next year.
Speaking at the post-bu [...]
Final report on Income tax submitted by Parliamentary Committee
The parliamentary panel of Parliamentary standing committee on finance headed by former FM Shri Yashwant Sinha has submitted its final report to help [...]
Parliamentary standing committee on finance has recommended an increase in basic tax exemption limit to Rs. 3 lakh and another Rs. 3.20 lakh rebate
The Parliamentary standing committee on finance has recommended an increase in basic tax exemption limit to Rs. 3 lakh and another Rs. 3.20 lakh reba [...]
Exemption from filing return are not available for certain category
1. Taxpayer receiving or received salary from more than one employer :
Who gets salary from two or more employer/TAN.
Who transferred fro [...]
I-T relief: House panel may push for higher deduction of Rs 3.20 lakh
Likely to include long-term savings, children's education; corporate tax may remain unchanged
NEW DELHI, FEB 24: The Standing Committee of Parliament [...]
This year too, no tax returns for salaries up to Rs 5 lakh including 10 thousand bank interest limit
Feb 20:
Millions of salaried taxpayers will continue to enjoy a procedural relief of not having to file their income-tax returns even for the curren [...]
Tax exemption may rise to Rs 1.5 lakh
Finance minister Pranab Mukherjee is likely to increase the income tax exemption limit on individual savings from R1 lakh at present by up to R50,000 [...]