Exemption of Interest Income on deposits increased to Rs 50,000 to Senior Citizens Ministry of Finance Relief to Senior Citizens: Exemption of Interest Income on deposits increased to Rs 50,000 Pradhan Mantri Vaya Vandana Yojana extended up to March … [Read more...]
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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...]
Raise Personal Income Tax Exemption Limit to Rs 4 lakh – Assocham
Raise Personal Income Tax Exemption Limit to Rs 4 lakh - Assocham Budget-2016-17: Revision in IT exemption to at least Rs 4 lakh minimum expectation of common-man Monday, February 15, 2016 Revision in the income tax exemption limit to at least Rs … [Read more...]
Issue of IT Refunds of Smaller Amounts
Issue of IT Refunds of Smaller Amounts In an initiative to reduce taxpayer grievances and enhance the taxpayer satisfaction, the Central Board of Direct Taxes had issued instructions to Central Processing Center (CPC), Bengaluru and the field … [Read more...]
Tax Benefits to Tourism Industry
Tax Benefits to Tourism Industry The Tourism Industry has requested the Government of India for the following fiscal benefits including tax rebate and relaxations: i. Inclusion of tourism infrastructure like hotels/resorts/tourist lodges/banquet … [Read more...]
CBDT Extended the due date of filing return of income for AY 2015-16 from 31st July 2015 to 31st August 2015
Extension of due date of filing return of income for Assessment Year 2015-16 G.I., Department of Revenue, Central Board of Direct Taxes, O.M.F.No.225/154/2015/TA.II, dated 10.6.2015 Order under Section 119 of the Income-tax Act 1991 Subject- … [Read more...]
No Change in the Rate of Personal Income Tax and The Rate of Tax for Companies on Income in Financial Year 2015-16
No change in the rate of personal Income-tax Surcharge @12% Levied on Individuals, HUFs, AOPs, BOIs, Artificial Juridical Persons, Firms, Cooperative Societies and Local Authorities Having Income Exceeding Rs 1 Crore The Union Finance Minister Shri … [Read more...]
Benefits to Middle Class Tax Payers in the Budget 2015-16
Benefits to Middle Class Tax Payers in the Budget 2015-16 Payments to the Beneficiaries Including Interest Payment on Deposit in Sukanya Samriddhi Scheme to be Fully Exempt The Union Minister of Finance Shri Arun Jaitley in his Budget Speech in Lok … [Read more...]
NMC urges FM to raise IT exemption limit to Rs 5 lakh, exclude DA from IT calculation, Merge DA in Basic Pay & Pension etc.
NMC urges FM to raise IT exemption limit to Rs 5 lakh, exclude DA from IT calculation, Merge DA in Basic Pay & Pension etc. JAMMU: The National Mazdoor Conference today asked Union Finance Minister Arun Jaitley to raise the income tax exemption … [Read more...]