Union Budget 2017-18: Income Tax rate reduced, earning upto Rs 3 lakh not taxed

01-02-2017

Persons with annual Income upto Rs 3 lakh will not have to pay income tax and those having income upto Rs 5 lakh will be charged income tax at 5 per cent. To much joy of tax payers in the lower brackets of income tax, Finance Minister Arun Jaitley has relaxed the chargeable rates. Personal income tax in Rs 2.5 lakh - 5 lakh bracket has been reduced to 5 per cent from 10 per cent. Jaitley further announced that annual income up to Rs 3 lakh will be exempt from income tax. Earlier, the tax slabs had caps at annual income of Rs 2.5 lakh, Rs 5 lakh and Rs 10 lakh attracting income tax of 10 per cent, 20 per cent and 30 per cent respectively. Those with annual income

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Income Tax Rates FY 2016-17 (AY 2017-18) – Finmin Orders
January 26, 2017

CIRCULAR NO : 01/2017 F.No.275/192/2016-IT(B) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi Dated the 2nd January, 2017 SUBJECT: INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 2016-17 UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961. Reference is

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Aadhaar Number to be a must for Filing I-T Returns
January 21, 2017

The government of India is planning to make Aadhaar number a must for filing of income tax returns from next fiscal year and link all bank accounts to the unique identity number by the end of this financial year. All bank accounts to be seeded with Aadhaar by Mar 31, Aadhaar to be made mandatory for PDS as well. The government is planning to

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GUIDELINE REGARDING NIGHT DUTY ALLOWANCE रात्रि कालीन भत्ते की गणना सम्बन्धी नियमो की जानकारी
January 16, 2017

GUIDELINE REGARDING NIGHT DUTY ALLOWANCE रात्रि कालीन भत्ते की गणना सम्बन्धी नियमो की जानकारी

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Frequently Asked Questions on Central Staffing Scheme
January 16, 2017

Department of Personnel & Training Central Staffing Scheme 2016 Frequently Asked Questions 1. Who are eligible to apply for Central Staffing Scheme? Officers from 36 participating services and fulfilling the eligibility conditions as given in the circular are eligible to apply. 2. If a particular Service is not listed in the Participating

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Know About Some Silent Feature Pension ,Gratuity , Qualifying Service ,
January 16, 2017

Pension : 1 The maximum limit for commutation has been raised to 40% w.e.f. 1.1.1996.A Government servant is now entitled to commute for a lumpsum payment up to 40% of his/her pension. 2 Provisional pension and provisional gratuity (up to 100%) should be sanctioned by the Head of Office if he were of the opinion that the

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Income Tax department detects undisclosed income of over Rs 5300 crore
January 10, 2017

NEW DELHI: The Income Tax department has detected un-disclosed income of over Rs 5,343 crore and seized Rs 114 crore of new notes which were allegedly procured illegally in its nation wide operation against black money hoarders post demonetisation.  Official sources said the taxman, exactly after two months after demonetisation was announced,

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