Budget 2018 – Will income tax limit be raised to Rs. 3 or 5 lakhs? “The tax slab is expected to be raised in favour of government employees” According to information available, the annual budget, to be presented by Finance Minister Arun Jaitley on … [Read more...]
No Proposal to Amend Income Tax Rates – Lok Sabha Q&A
No Proposal to Amend Income Tax Rates - Lok Sabha Q&A Govt says No Proposal to Revise Income Tax Rates this year GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE LOK SABHA UNSTARRED QUESTION No. 1355 TO BE ANSWERED ON FRIDAY, … [Read more...]
Arun Jaitley holds his 6th Pre-Budget Consultation Meeting
Arun Jaitley holds his 6th Pre-Budget Consultation Meeting The Union Finance Minister Shri Arun Jaitley holds his 6th Pre-Budget Consultation Meeting with Stakeholders from IT (Hardware &Software) Group;Highlights the steps taken by the present … [Read more...]
Income Tax Slab Rates for Defence Personnel – FY 2017-18 (AY 2018-19)
Income Tax Slab Rates for Defence Personnel - FY 2017-18 (AY 2018-19) INCOME TAX SLAB (FY 2017-2018) Upto Rs 2.5 Lakh/Nil Rs.2.5 to 5 Lakh/5% of amount exceeding Rs.2.5 Lakh Rs.5 Lakh to 10 Lakh/ Rs.12500/- plus 20% of amount exceeding Rs.5 … [Read more...]
Income Tax Department suspends an officer for harassing the taxpayer
Income Tax Department suspends an officer for harassing the taxpayer A complaint was received making serious allegations against Shri D. K. Meena, Deputy Commissioner of Income Tax, posted at Surendranagar in Gujarat Region for harassing a taxpayer … [Read more...]
Income Tax Exemption 5 lakhs to Pensioners – Clarification
Income Tax Exemption 5 lakhs to Pensioners – Clarification “Exemption of Rs. 5 lakhs per annum to pension income” Shiv Pratap Shukla D.O.No.370150/9/2017-TPL MINISTER OF STATE FOR FINANCE GOVERNMENT OF INDIA NEW DELHI – 110001 14th November, … [Read more...]
Income Tax : List of Taxable Elements of Pay – PCDA
Income Tax : List of Taxable Elements of Pay - PCDA Pune 1. Taxable Element of Pay – Note: Provisions are applicable equally for monthly payment of Allowances as well as arrears for the said head of Pay/Allowances. 2. Non-Taxable Elements of Pay … [Read more...]
Last date for filing of IT returns extended to August 5, 2017
Last date for filing of IT returns extended to August 5, 2017 Extension of date for filing of Income Tax Returns extended for five days up to 5th August, 2017 Extension of date for filing of Income Tax Returns extended for five days up to 5th August, … [Read more...]
Income Tax (IT) Department simplifies linking PAN with Aadhaar for taxpayers using Income Tax India website
Income Tax (IT) Department simplifies linking PAN with Aadhaar for taxpayers using Income Tax India website No need to login or be registered on the E-filing website for linking The Income Tax (IT) Department has made it easy for taxpayers to link … [Read more...]
What are allowances? Are all allowances taxable? – INCOME TAX FAQ
What are allowances? Are all allowances taxable? - INCOME TAX FAQ What is considered as salary income? section 17 of the Income-tax Act defines the term ‘salary’. However, not going into the technical definition, generally whatever is … [Read more...]
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