Section 87A was introduced in Budget 2013 and it provides marginal relief to small tax payers. In this post we provide details about the eligibility, the benefits and how it has changed since it was first introduced. Section 87A Eligibility: The tax rebate under section 87A is only available to resident individuals with net taxable […]
Section 87A – Most important change for Income Tax Payers in Budget 2019 Read More »
Budget 2019 has made some changes to Income tax for individual – the highlight being full tax rebate for individuals earning below Rs 5 Lakhs. There has been no changes in the income tax slab. We highlight the changes and give you the new tax calculator for FY 2019-20 [AY 2020-21]. Changes in Income Tax Rules:
Income Tax Calculator FY 2019-20 [AY 2020-21] – Excel Download Read More »
A few days back (on April 16, 2018) Income Tax Department issued cautionary advisory to Salaried Taxpayers about under-reporting of income and inflating deductions/exemptions while paying taxes. This was prompted by some of the recent cases of salaried caught by income tax officials. You can read the advisory below: Also Read: Everything you need to
Budget 2019 among many things also notified following 3 changes in NPS – which would make it more attractive to investors.
NPS withdrawal becomes Tax free
NPS Tier II now under 80C (only for Central Govt employees)
Contribution increased in NPS to 14% for Government Employees
Budget 2019 has taxed super rich more, made PAN & Aadhaar interchangeable, additional tax exemption on purchase of home and electric vehicle and some changes related to ITR & NPS
