Arun Jaitley May Double Tax Exemption in Maiden Budget Finance Minister Arun Jaitley is expected to double exemption limit on long-term financial savings to ease tax burden on the middle class in his maiden budget on Thursday, sources told NDTV. Currently, the income tax exemption limit on such savings is capped at Rs. 1 lakh. Savings instruments such as housing loan … [Read more...] about Arun Jaitley May Double Tax Exemption in Maiden Budget
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Income Tax Exemption
Income tax exemption on children education allowance
Income tax exemption on children education allowance Children Education Allowance (CEA) under section 10 (14) read with Rule 2Bb(2)(5) of the Income Tax Act is Rs.I00 per month per child. This limit as fixed more than 2 decades back when the maximum amount of Children Education AIlowance for Central Government Employees was fixed at Rs. 100/- per month per child under the … [Read more...] about Income tax exemption on children education allowance
Central Government is planning to raise the Income Tax exemption slab to Rs. 5 Lakhs
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 raising of income tax exemption slab from Rs. 2 lakhs … [Read more...] about Central Government is planning to raise the Income Tax exemption slab to Rs. 5 Lakhs
Raise Income Tax Exemption Slab to Rs. 5 Lakhs: NC JCM Staff Side
Raise Income Tax Exemption Slab to Rs. 5 Lakhs: NC JCM Staff Side A letter has been written to the Finance Minister presenting the demand to raise the income tax exemption slab. Mr. Siva Gopal Mishra, the Secretary of the National Council JCM Staff Side, has sent a letter regarding income tax exemption. In the letter to the Finance Minister Arun Jaitley, it was suggested … [Read more...] about Raise Income Tax Exemption Slab to Rs. 5 Lakhs: NC JCM Staff Side
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