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 – Note: 1. Provisions are applicable equally for monthly payment of Allowances as … Read more
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, 2017 There are some complaints that the taxpayers are … Read more
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 their PAN with Aadhaar. Responding to grievances of taxpayers regarding difficulties in linking … Read more
CBDT issues Certificates of appreciation to nearly 3.74 lakh tax payers for their contribution towards Nation building Press Information Bureau Government of India Ministry of Finance 07-February-2017 20:26 IST CBDT issues Certificates of appreciation to nearly 3.74 lakh tax payers for their contribution towards Nation building In continuation of the initiative of the Government to … Read more
Tax-exemption to partial withdrawal from National Pension System (NPS) : This benefit will be effective on partial withdrawal made by the subscriber after 1st April 2017. Press Information Bureau Government of India Ministry of Finance 02-February-2017 12:20 IST New Benefits announced for NPS Subscribers in Union Budget 2017-18 In a bid to provide further impetus to … Read more
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 salaried employees who are … Read more
“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
Budget 2017 : Income tax reduced by 5% for Income upto Rs. 5 lakh Finance Minister announced in the budget speech for 2017-18 today in Lok Sabha, there were legitimate expectations of the salary class after demonetization to reduce the tax burden. He proposed reducing the present rate of income tax from 10 to 5 … Read more
Income Tax Rates FY 2016-17 (AY 2017-18) – Finmin Orders INCOME TAX CALCULATOR – PRE & POST BUDGET 2017 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 DURING THE FINANCIAL … Read more
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 lakh shall be 10 … Read more