Tag Archives: deduction tax

Proposal For Increase Income Tax Exemption limit from 1.6 lakh to Rs 2 lakh

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The Union Cabinet on Thursday approved a new set of direct tax rules that proposes to raise income tax exemption limit from 1.6 lakh to 2 lakh, leaving more money in the hands of individuals, and a lower tax rate … Continue reading

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Income Tax Refund fortnight from August 16 to 31

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TheIncome Tax Department will observe the second fortnight of August, 2010 as IT Refund period to solve the pending complaints of salaried tax payers up to the Assessment year 2008 – 2009. This IT Refund Fortnight will be observed all … Continue reading

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Income Tax Exemption for leave encashment

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The amount paid for leave or leave salary is known as leave encashment. All leave encashment including encashment of sick leave to an employee is taxable, if he/she is in service. But leave encashment is received at the time of … Continue reading

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Get Additional Tax Exemptions under Section 80CCF

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The Following companies are eligible for issuing infra structure bonds under section 80CCF which allows you to earn additional Rs. 20,000 Exemption. IFCI     (Industrial Finance Corporation of India) IDFC     (Infrastructure Development Finance Company Limited) LIC     (Life Insurance … Continue reading

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