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Income Tax

Medical Expenses Allowance vs Medical Expenses Reimbursement

Budget 2018 update Effective Financial Year 2018-19 (Assessment Year 2019-20), exemption for Medical Reimbursement upto Rs 15,000 has been scrapped (together with Transport Allowance upto Rs 19,200) and has been replaced with Standard Deduction of Personal Finance guide to Mutual Funds, Stocks, Insurance, Investments, Loans, Tax Planning, Non-Resident Indians related issues
Income Tax

Income Tax Rates: AY 2016-17 (FY 2015-16)

PLEASE CLICK HERE FOR LATEST PERSONAL INCOME TAX RATES Income Tax Rates applicable for Individuals, Hindu Undivided Family (HUF), Association of Persons (AOP) and Body of Individuals (BOI) in India is as under: Assessment Year Personal Finance guide to Mutual Funds, Stocks, Insurance, Investments, Loans, Tax Planning, Non-Resident Indians related issues
Deductions

HRA Exemption – PAN Number of Landlord

Central Board of Direct Taxes (CBDT) had issued a circular on 10th October 2013 regarding House Rent Allowance (HRA) exemption under section 10(13A) of the Income Tax Act, 1961. As per the circular, if annual Personal Finance guide to Mutual Funds, Stocks, Insurance, Investments, Loans, Tax Planning, Non-Resident Indians related issues
Deductions

Interest on Education Loan

For an Individual tax payer, Income Tax Act provides for deduction of interest paid on two types of loans – Home Loan and Education Loan. Section 80E of the Income Tax Act provides for deduction Personal Finance guide to Mutual Funds, Stocks, Insurance, Investments, Loans, Tax Planning, Non-Resident Indians related issues
Income Tax

Income Tax Rates: AY 2021-22 (FY 2020-21)

new income tax regime new income tax slabs individual without deductions Personal Finance guide to Mutual Funds, Stocks, Insurance, Investments, Loans, Tax Planning, Non-Resident Indians related issues

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