Maximum deduction can be Rs 40,000 (goes up to 80,000 in case patient is senior citizen).
Advance tax schedule: As per income tax rules, 30 of income tax should be paid by 15th Sept, 60 by 15th Dec and rest by 31st March.
Amount can be invested in: Tax saving mutual funds (elss) with three years lock-in Five year tax-saver bank Fixed deposits Public provident fund (PPF) National Savings Certificate (NSC) or National Service Scheme (NSS) Employer contribution into New Pension Scheme (NPS) (Section 80CCD) Life insurance/Unit Linked.
Rebate incrased to 50 u/s 87A.This would not be exempted in case employee also avail car reimbursement. .Priority home loan limit raised to Rs 25 lakhs from Rs 20 lakhs Relaxation in e-filing norms for 'small taxpayers' announced To extend Rs 20,000 exemption for investment in infra debt funds for another year.Up to Rs 5,00,000, no tax / exempt 5,00,001 to 8,00,000 20 Above 8,00,000 30 Step VI: Education Cess Add itunes for windows 7 latest version 3 of your taxable income as the Educational Cess to the Income Tax amount need for speed most wanted full game utorrent calculated in step.Hence employer compute income tax on salary payment and deduct it every month.Tax Rebates for Corporate Sector The classical system of corporate taxation is followed.
Domestic companies are permitted to deduct dividends received from other domestic companies in certain cases.
The sum of a nations gross domestic product (GDP) plus net income received from overseas.
House rent would needs to shown in income in case house is not self-occupied.Here are the main highlights of Direct Tax Code (DTC) Here are the main highlights of Direct Tax Code (DTC) Tax exemption limit for men to be raised from Rs 160000 to Rs 180000.This may include all the savings and investments mentioned.To allocate Rs 58,000 crores for Bharat Nirman projects RBI to be allowed to grant more banking licenses Considering a new fertiliser policy for urea.Gratuity : If amount is received before completion of five years of service with employer, aplikasi line for ipad it should be taxable.The allowed dedudtion if for Rs 75,000.There is no concept of thin capitalization.Driver salary If employee pays driver salary for self owned or company owned car, Rs 900 per month may become non-taxable if employer provides component for.Choose the slab according to your income and calculate your Income tax.FY 2016-17 (AY 2017-18) : Income Tax Calculator for financial year 2016-17 (136.5 KiB, 31,332 hits fY 2015-16 (AY 2016-17) : Income Tax Calculator for financial year 2015-16 (263.0 KiB, 49,040 hits) FY 2014-15 (AY 2015-16) : Income Tax Calculator for financial year 2014-15 (136.0.