Exemption Limit for Individual Taxpayers Raised to Rs. 2 Lakh

Exemption Limit for Individual Taxpayers Raised to Rs. 2 Lakh Upper Limit of 20 Per Cent Tax Slab Raised to Rs. 10 Lakh  Deduction up to Rs. 10,000 Proposed for Savings Bank Interest  Senior Citizens not Having Income from Business Exempted from Payment of Advance Tax The exemption limit for the general category of individual … Read more

No income tax on amount received to meet the cost of Annual medical check-ups

  MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICAT1ON New Delhi, the 3rd June, 2011 S.O.1295(E).—In exercise of the powers conferred by clause (23AAA) of Section 10 of the Income-tax Act, 1961(43 of 1961), the Central Board of Direct Taxes hereby makes the following amendments in the notification of Government of … Read more