RE:NSC VIII issue Tax rebate on interest earned
by Jagdamba Prasad on Mar 14, 2007 07:20 PM Permalink
It is first taken into income of the individual and then is treated as other savings under section 80 C.
RE:Hotel Project exemption
by vinay boddu on Apr 01, 2007 08:37 PM Permalink
yaaaaaaaaaa 5 yrs tax holiday as far as i know pls check the latest budget report on finance ministry wesbite from www.india.gov.in
Although budget has brought stock options under the ambit of FBT, it has not made any statement with regard to how the FB will be calcualated and the rate at which tax will be deducted.
Major companies will have a set back on their future plannings and will be adjusted to the employee benefits afterwards.
Instead of incrasing income tax slab from 1lac to 1.1lac FM wants to bring once again standard deduction Rs.30000/-which was allowed as deduction u/s.16(i)upto A.Y.2005-2006 to salary earner because increased income slab will be benefited to small businessmen or who declare dummy income for getting finance from the bank by declaring income below the tax limit and businessman in their P&L claims 50% or sometime 100% household expenses. Once again FM needs to think on the standard deduction on salary while passing the budget in Parliament.
