The basic exemption limit for Senior citizens (60 years to below 80 years) is :.00 lakhs.
5000 from tax calculated will be available for people having an annual income upto Rs 5 lakh (for FY 2015-16, the tax rebate in this category used to.
1.50 Lakh can be claimed as deduction u/s 80CCC.
Rent paid Less 10 of Salary for the relevant period.As per Finance Bill 2015-16.The Interest is entirely taxable.Yield on PPF will vary and will be fixed at 25 basis point above the 10 year government bonds.(2) Deductions Under Section 80 D : Basic Deduction under Section 80D, Mediclaim premium paid for Self, zenfolio discount code 2014 Spouse or dependant children has now been raised to Rs 25,000 wef FY 2015-16.This extra tax deduction is available to only those homebuyers, who meet ALL the following criteria - (i) who have home loan sanctioned in FY 2016-17 (ii) whose loan amount is less than 35 lakhs (iii) value of house should not hbo oscars contest be more than.However, unlike the bonds under 54 EC, the depositor cannot put the money in a different kind of asset.The long term capital gains arising from transfer of Gold Bond would be eligible for Indexation benefit.1,600/- per month.
Thus, if one has paid the premium from ones savings or from gifts of money received, then one is not eligible for tax benefits under this section.
Under which Tax Benefit available Return till March 31,2016 Return from April 1, 2016 Tax benefits for earnings (i.e.
Life insurance premium for policy: a) in case of individual, on life of assessee, assessees spouse and any child of assessee b) in case of HUF, on life of any member of the HUF.For investments in specified schemes, saving instruments etc.Section 80C of the.Every year the income tax rates are changed chicos promotion code 2015 and it is important to get the latest income tax rates.Personal Income-tax exemption limit raised by Rs 50,000/- that is, from.2.5 lakh in the case of individual taxpayers, below the age of 60 years.September 1, 2004, any gift received by an individual or HUF will be included in taxable income, if the amount of tax exceeds.25,000/-. .You are here: Home income Tax / Income Tax 2016-17 (ar 2017-18) Rate, Exemptions, Deductions and Rebate for Salaried Employees.