Among this list, NPS is unique, in the sense that it could also assist you in getting an additional tax exemption of Rs. 50,000/- under Section 80CCD-1B as Additional Employee Contribution. So in addition to your existing exemption under 80C, you have the option for getting Rs. 2,00,...
Senate over the imposition of income tax after the Payne tariff bill was introduced. The Republicans led by Nelson Aldrich are opposing the levying of new special taxes and income tax. But some of the western Republicans and the Democrats ...
80EEA (Interest paid on home loan for affordable housing) Exemption Limit : ₹1,50,000 80EEB (Interest paid on loan for purchase of electrical vehicle) Exemption Limit : ₹1,50,000 80G (Donations to charity) Calculate income tax Disclaimer: Zoho has taken great care and has mad...
This paper is an exploration on the effective operation of China's individual income tax self-declaration system, and analyzes the situation where individuals' annual income is over RMB 120,000 Yuan. From the perspective of laws, it is concluded that self-declaration is the combination of taxpaye...
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Income Tax Slab for Individuals Under 60 years Income Tax Slab Rates Between 60-80 years Income Tax Slab Rate for Individuals Above 80 years Non-Resident Individuals (NRI) Income Tax Slab Rates Income Tax Slab for AOP, BOI, Artificial Juridical Person ...
(b) in the scheme referred to in sub-section (2) of section 80CCD; and (c) in an approved superannuation fund, to the extent it exceeds seven lakh and fifty thousand rupees in a previous year; (viia) the annual accretion by way of interest, dividend or any...
So, the parameters for the eligibility of this rebate under section 87A of the Income Tax Act 1961 are mentioned below in steps? Step 1: To begin with, the income to be taken into consideration for the access to a rebate under section 87A is arrived at after setting off the ‘brought...
Health insurance premiums paid for self, spouse or children, also get a tax deduction benefit under Section 80 D. Under Section 80 E you get a deduction on repayment of education loan (only interest) For example, if your gross income is Rs 7 lakh and you invest Rs 1 lakh in an instrum...
Chapter VI-A pertains to allowable deductions under Section 80C , Section 80CCC, Section 80CCD as well as other sections like 80E, 80G and 80TTA. After reducing the income tax deductions that have been claimed, the total taxable income would be taxed as per the Income tax slab rates of ...