The Finance Minister Arun Jaitley in Budget 2018 presented a standard deduction of Rs. 40,000for the salaried class. This extra reasoning has been proposed in lieu of existing findings of Rs. 15,000 for restorative repayment and Rs. 19,200 for transport stipend. The fund serves said the move will profit 2.5 crore salaried workers and retired people who typically loath any recompense for transport and restorative costs. The income cost for the legislature will be about Rs. 8,000 crore, Mr. Jaitley said. Nonetheless, the fund serves likewise raised Cess on pay assessment to 4 percent from 3 percent for individual citizens. 

On January 07, 2019 by www.taxexcel.net

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Tax planning is overwhelming for most of us. With the complex network of various sections, sub-sections, and provisions, it is crucial to completely understand tax provisions are applicable to you, and what can work for or against you. If you are losing your sleep over your taxes, look no further. We bring to you a complete guide to tax exemption for the financial year 2018-19.

Budget 2018 has created a significant impact on personal finance, in respect of investments, savings, and taxes. It is important to think beyond Section 80C to maximize your income tax benefits. Also, you must align your investments with your tax-saving instruments to get absolute benefits.

Here we have a complete list of tax deductions you can claim under the Income Tax Act, this financial year 2018-19.

On November 02, 2018 by www.taxexcel.net

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