Key Taxation Highlights Union Budget 2018-19

In the context of upcoming General Elections, Budget 2018-19 laid a strong focus on the agricultural, Infrastructure, healthcare and education sectors in the country. Some of The Key Highlights of the budget are as follows: Taxation: 1) No change in the structure of the income tax rate for individuals, HUF, Firms and Companies. 2) For AY…

Income Tax Exemption Updates : For FY: 2016-17

80 C : Max limit  : 150000/- MF-ELSS, Pension Plans, Life Insurance, PF, PPF etc 80CCD : 50000/- NPS 80CCG : 25000/- or 50%  of your investment which ever is less  80D : 25000/-  Mediclaim Policy for self spouse, children  80D : 30000/- for dependent parents u/s-80D.  Medical reimbursement :- 15000/- US 17(2) 80DDB : Medical expense occurred…

Tax Declaration Form 15G/15H

We are receiving queries regarding New Form 15G/15H, its benefits and procedure of filling & submission of Forms. Here we are sharing the complete details Form 15G/15H are Self-Declaration Forms required for Non-Deduction/Lower Deduction of TDS on Interest in Fixed Deposits. Form 15G: This is the form which is filled by any individual below the…

Investment limit in Infra bonds to be increased?

The government is considering more than doubling the investment limit in infrastructure bonds eligible for tax rebates as part of a strategy to provide a funding boost to a vital sector while having a beneficial effect across the economy. The finance ministry’s department of economic affairs, as part of its suggestions for the 2012-13 budget,…