Exemption limit for income tax by just Rs 20,000 from Rs 1,80000 to Rs 2 lakh...
Government raised the exemption limit for income tax by just Rs 20,000 from Rs 1,80000 to Rs 2 lakh.
The new tax slabs are as follows:
Up to Rs 2 lakh: No tax
From Rs 2 lakh to 5 lakh: 10%
From Rs 5 lakh to 10 lakh: 20%
Above Rs 10 lakh: 30%
The homeowners of apartments can enjoy tax exemption of Rs. 5000/. Spent on maintenance. This exemption level has been increased from Rs.3000/- to Rs. 5000/-
Exemption permitted upto Rs 5000/- for expenses incurred on Preventive Health Check up
Exemption of Rs 10000 on interest earned from Savings Bank depsosits for people with income upto Rs 5 Lakh
Source: AIRF
The new tax slabs are as follows:
Up to Rs 2 lakh: No tax
From Rs 2 lakh to 5 lakh: 10%
From Rs 5 lakh to 10 lakh: 20%
Above Rs 10 lakh: 30%
The homeowners of apartments can enjoy tax exemption of Rs. 5000/. Spent on maintenance. This exemption level has been increased from Rs.3000/- to Rs. 5000/-
Exemption permitted upto Rs 5000/- for expenses incurred on Preventive Health Check up
Exemption of Rs 10000 on interest earned from Savings Bank depsosits for people with income upto Rs 5 Lakh
Source: AIRF
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