Income tax to be exempted on following for salaried class who are worst hit and end up pay huge amount of tax, while business class enjoy all the benefit: Medical Rs 60,000/-(maximum upto 4 members in family) per annum, School education fees for Girl child for Rs 15,000/- per annum for maximum 2 girls in family, Conveyance Rs 20,000/- per month, House Rent / Own house Rs 25,000/- per month, Electricity Charges Rs 2500/- per month, LTA Rs 50,000/- per anum, Entertainment for family Rs 24,000/- per annum,LIC premium payment limit of maximum Rs 3,00,000/- per annum to be fully exempted from Gross salary, House Loan for atleast 2 houses to be exmpted on Principal amount and Interest paid to bank. Moreover, slab system to continue but the ITax so charges to be maximum 10-15% on Nett Income to encourage everyone to enjoy happy, healthy life and to pay premium happily.
Hi FM could you pls. keep any one of the Housing loan components for exemption (interest on Homeloan i.e,Rs.1.5 lakhs)/Premium paid on Home loan(upto Rs. 1lakh). Most of the middle class people have taken a house to avail the tax exemptions .
Total Salary upto Rs.3 Lac should be fully exempted because present cost of living index is too high all over India and the value of Rupee has been declined very much compared to Base year 2007-08.The Tax slab rate should be 10% for slab Rs.3 to 5 Lac and 20% for over 5-10Lac and 30 % for rest.
Total Salary upto Rs.3 Lac should be fully exempted because present cost of living index is too high all over India and the value of Rupee has been declined very much compared to Base year 2007-08.The Tax slab rate should be 10% for slab Rs.3 to 5 Lac and 20% for over 5-10Lac and 30 % for rest.
Total Salary upto Rs.3 Lac should be fully exempted because present cost of living index is too high all over India and the value of Rupee has been declined very much compared to Base year 2007-08.The Tax slab rate should be 10% for slab Rs.3 to 5 Lac and 20% for over 5-10Lac and 30 % for rest.
Total Salary upto Rs.3 Lac should be fully exempted because present cost of living index is too high all over India and the value of Rupee has been declined very much compared to Base year 2007-08.The Tax slab rate should be 10% for slab Rs.3 to 5 Lac and 20% for over 5-10Lac and 30 % for rest.
Total Salary upto Rs.3 Lac should be fully exempted because present cost of living index is too high all over India and the value of Rupee has been declined very much compared to Base year 2007-08.The Tax slab rate should be 10% for slab Rs.3 to 5 Lac and 20% for over 5-10Lac and 30 % for rest.
Total Salary upto Rs.3 Lac should be fully exempted because present cost of living index is too high all over India and the value of Rupee has been declined very much compared to Base year 2007-08.The Tax slab rate should be 10% for slab Rs.3 to 5 Lac and 20% for over 5-10Lac and 30 % for rest.
1.EXEMPTION LIMIT FOR INCOME FOR SENIOR CITIZENS TO BE RAISED TO 300,000 ATLEAST, FROM THE PRESENT 2,25,000. 2.EXEMPTION UNDER 80 C TO BE RAISED TO 300,000 FROM THE PRESENT 100,000
