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budget for salaried people

Budget for salaried people

Claiming HRA deduction of more than Rs 50,000/month? Know the new tax rules
Updated : Feb 2, 2017

Claiming HRA deduction of more than Rs 50,000/month? Know the new tax rules

"In case the landlord (payee) does not have a Permanent Account Number (PAN), then the tax deduction shall not exceed the amount of rent payable for the last month of the previous year or the last month of the tenancy, as the case may be," said Poorva Prakash, Senior Director, Deloitte Haskins and Sells LLP.

Updated : Feb 1, 2017

Budget 2017: How you will save Rs 12,500 as per the new tax rates

Bringing in some cheers to the salaried class, the Finance Minister Arun Jaitley has reduced the tax rate for the income between Rs 2.5 lakh to Rs 5 lakh from 10 per cent to 5 per cent.

Updated : Jan 31, 2017

Anti-avoidance tax rule to kick in from April 2017

General Anti-Avoidance Rule (GAAR) was part of the 2012-13 Budget speech of the then Finance Minister Pranab Mukherjee to check tax evasion and avoidance.

Updated : Jan 6, 2017

Railway services must be paid for, says Arun Jaitley

Weeks before he presents India's first combined general and railway budget, Finance Minister Arun Jaitley today said rail commuters must pay for the service they receive even as he made a strong case for outsourcing of non-core functions like hospitality services.

Updated : Jan 6, 2017

Economists favour cut in income tax rate; harmonise custom rate

The meeting, which comes ahead of the Budget slated to be held in early February, did not go into the impact of demonetisation on the economy while the aspect of digitisation to make it a less cash economy figured.

Updated : Jan 6, 2017

Possibility Of income tax rate cut in upcoming Budget: Union Minister

He also indicated there is a possibility of income tax rate cut in the upcoming budget which is expected on February 1.

Updated : Jan 6, 2017

Double Income Tax exemption limit to Rs 5 lakh: Deloitte survey

Almost all respondents want the I-T exemption limit to be raised substantially while 58 per cent of the respondents were in favour of raising it to Rs 5 lakh.