The deduction was introduced in Budget 2012 to encourage retail participation in stock market but failed to take off as desired. Tax exemption under section 80CCG for RGESS (Rajiv Gandhi Equity Scheme) would NOT be available from FY 2017-18 on wards. This reduction would not benefit Very Senior Citizens (person who are aged 80 years or more) as they had NO taxes in this slab.Äownload: Excel based Income Tax Calculator for FY 2017-18 4. ![]() ![]() The tax rate for income between Rs 2.5 lakh to Rs 5 lakhs has been reduced to 5% from 10%. Tax Cases can be reopened for up to 10 years Penalty for Late filing of Income Tax Return Aadhaar number must for applying for PAN Card and filing Income tax Return Audit Threshold Limit raised to Rs 2 crore TDS of 5% if the monthly rent paid is more than Rs 50,000 Tax-exemption to partial withdrawal from NPS More tax deduction on NPS for self-employed Interest deduction on rented property capped at Rs 2 Lakh 10% Surcharge for Income above Rs 50 Lakhs ![]() Rebate under Section 87A reduced to Rs 2,500
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |