The 2017 Union Budget, presented by Finance Minister Arun Jaitley on Wednesday 1st February 2017, was broadly focused on 10 themes — the farming sector, the rural population, the youth, the poor and underprivileged health care, infrastructure, the financial sector for stronger institutions, speedy accountability, public services, prudent fiscal management and tax administration for the ...
How to file ITR online?
# What is e-Filing? 1. The process of electronically filing Income tax returns through the internet is known as eFiling. 2. e-Filing of Returns/Forms is mandatory for : Any assessee having total income of > 5 Lakhs and above for from AY 2013-14 and subsequent Assessment Years. Individual/ HUF, being resident, having assets located outside India from AY 2012-13 ...
Some Key Points from Budget 2014-15
Income tax rates unchanged; sops for small, marginal assesses- The Budget for 2014-15 today left income tax rates unchanged but provided sops to small and marginal assesses by raising the threshold exemption limit from Rs 2 lakh to Rs 2.5 lakh and investments under 80C by Rs 50,000 to Rs 1.5lakh while promising not to bring ...
Income Tax Slab For FY 2014-15
The new and revised income tax slabs and rates applicable for the financial year (FY) 2014-15 and assessment year (AY) 2015-16 are mentioned below: Common People Income Slab Tax Rates 1 Up to Rs 2,00,000 No tax / exempt 2 2,00,001 to 5,00,000 10% of amount by which the total income exceeds Rs. 2,00,000/-. 3 5,00,001 to 10,00,000 Rs. 30,000/- + 20% of the amount by which ...