Personal Income Tax Exemption Limit and 80C limit also raised by Rs. 50,000 Personal Tax Exemption Limit Raised by Rs. 50,000/- ; No Change in the Rate of Surcharge; 15% Investment Allowance to Manufacturing Companies, to Incentivize Small Entrepreneurs and Income from Foreign Portfolio Investors to be Treated as Capital Gains. Press Information Bureau Government … Read more
Budget 2014 – CII suggests raising 80C deductions to Rs. 2.5 Lakhs In its Pre-Budget wish list regarding Income Tax 80C, the Confederation of Indian Industries (CII) has suggested to the Finance Ministry that the consolidated deduction under 80C be raised from Rs. 1 lakh to Rs. 2.5 lakhs. Most Central Government employees have savings … Read more
Central Government is planning to raise the Income Tax exemption slab to Rs. 5 Lakhs According to information from the Finance Ministry, the Government is giving serious thoughts about raising the income tax exemption slab from the current Rs. 2 lakhs to Rs. 5 lakhs. The information adds that Modi is planning to make the … Read more