In
this article, we are going to discuss concerning deduction below
section 80E for interest on the loan is taken for pedagogy. Summary of
80E deduction like who will get the deduction of Section 80E, what's
deduction 80E, eligibility and alternative vital data.
Monday, 4 February 2019
As per the Central Finance Budget 2019-20, some section of the limit of deduction enhances by this Finance Budget 2019. (1) No changes in Income Tax Slab Rate as the same just previous Financial Year. ( 2) New Standard Deduction Limit has extended up to Rs. 50,000/- (3) The Limit of Section 87A Tax Rebate also hike from 2500/- to 5000 who's taxable income less than 5 Lakh. (4) Hike the tax exemption U/s 80TTA from Rs. 1000/- to 40,000/-
Sunday, 3 February 2019
Budget 2018 in conjunction with several changes to tax laws additionally introduced a replacement Section 80TTB. per this grownup will claim tax exemption up to Rs 50,000 on interest financial gain from bank/ post workplace fastened deposit, continual deposit or bank account. Also, if a grownup opts to require advantage of Section 80TTB, he cannot claim any tax break u/s 80TTA. Non-senior voters and HUFs aren't eligible for 80TTB exemption. but Non-senior voters will still avail the tax break offered below section 80TTA, wherever interest financial gain up to Rs 10,000 from the bank account is tax exempted.
Friday, 1 February 2019
Thursday, 31 January 2019
Wednesday, 30 January 2019
Tuesday, 29 January 2019
The Union Budget 2018-19, the Finance Minister has proposed to provide Rs. 40000/- Standard Deduction from salary income to all employees & pensioners.
As per the Tax rules that are applicable to FY 2018-19 (AY 2019-20) ;
- A Salaried individual can claim annual Transport allowance (conveyance allowance) of up to Rs 19,200 (Rs 1,600/-pm) and up to Rs 38,400/- (Rs 3,200 pm) by differently-abled persons.
- The Salaried can also claim up to Rs 15,000 (Rs 1,250 pm) medical reimbursement. To claim this, you would have been submitting medical bills to your employer and getting the allowance benefit.
- These allowances are part of Section 10 of the Income Tax Act.
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