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 Sabha today proposed rationalization of various tax exemptions and incentives to reduce tax disputes … Read more
Arun Jaitley Against High Income Tax Rate to Raise Revenues By PTI NEW DELHI: Ahead of the budget, Finance Minister Arun Jaitley today said the NDA government is not in favour of high taxation, instead it would want to leave more money in the hands of consumers to fuel demand and growth. The minister also … Read more
Income Tax Rate Chart For AY 2015-16 / FY 2014-15 The rates of income-tax as applicable for Assessment Year 2015-16 for the following category is given below:- 1) in the case of every individual below the Age of Sixty Years 2) For a resident senior citizen (who is 60 years or more at any time … Read more
Income Tax Exemption Slab Could be Raised Further: Finance Minister Arun Jaitley Informs “I have no intention of burdening the salaried and middle classes by imposing heavy taxes on them. At the same time, I’m not going to let tax evaders get away. I’m going to bring them into the tax-payers circle,” Minister of Finance, … Read more
Income Tax Exemption Limit Raised by Rs.50,000 – Does it meet the Central Government employees’ expectations? Finance Minister Arun Jaitley announced that the Income Tax exemption limit for individual taxpayers, below the age of 60 years has been raised from Rs. 2 lakhs to Rs. 2.5 lakhs. The General Budget 2014-15 presented by the Union … Read more