The tax department has uploaded the new income tax return (ITR) Form1 or Sahaj for the financial year 2017-18 on its e-filing website. This is the form that is used by most of the salaried class to file their ITRs.
income tax relief
A person can avail tax benefit in respect of interest paid for a loan taken for the purpose of higher education of certain relatives under Section 80E.
Senior citizens will get a deduction up to Rs 50,000 in respect of interest earned from deposits held with banks, co-operative society and post office.
Income Tax Relief under Section 89 of Income Tax Act - Income Tax Relief under Section 89 of Income Tax Act - GConnect Calculator to determine IT Relief for Arrears of Income from Salary received in 2016-17
Income Tax Relief for Senior Citizens on Interest Income up to Rs. 50,000 - Pradhan Mantri Vaya Vandana Yojana extended up to March 2020
Income Tax for Salaried Class - Standard Deduction introduced - Relief to salaried taxpayers: standard deduction of Rs 40,000 allowed in lieu of present exemptions Relief to salaried taxpayers: standard deduction of Rs 40,000…
CBDT definition about computation of Income under the Salaries Head as per Income Tax Act. - Ministry of Finance Circular
Announcing relief to small tax payers Shri Jaitley proposed to raise the ceiling of tax rebate U/s. 87A from Rs.2000 to Rs.5000. With this, individuals having income up to Rs.5 lakh will get a relief of Rs.3000 in their tax liability.
Section 89 of Income Tax Act provides for Relief of Tax for the salary income received as arrears by distribution of the same to relevant previous years
Finance Ministry has announced Tax Relief up to Rs.1 lakh for the expenses incurred for Differently Abled dependent
Central Government has introduced a new Saving Scheme Sukanya Samriddhi Account, only for the female child below 10 years with Tax exemption. RBI/2014-15/494 IDMD(DGBA).CDD.No.4052/15.02.006/2014-15 March 11, 2015
Income tax Relief for Taxpayers in the Bracket of Rs.2 Lakh to 5 Lakh - Income Tax Credit of Rs.2000 to Every Person with Total Income upto 5 Lakh
GConnect online Calculator to estimate Income Tax Relief under Section 89 of IT Act in respect of arrears of pay received in the year 2012-13: I have received arrears of pay this year as a result of one time increment granted by govt this…
We lanuched an online calculator for estimating the Income Tax rebate under Section 89(1) for the arrears of pay and allowance received by an employee in the year 2009 as we thought that it will be very useful for gconnect readers