Budget 2018: Changes in Tax Rules

1. customary Deduction of Rs 40,000 for Salaried and Pensioners

2. Transport Allowance & Medical compensation No a lot of tax-exempt for salaried

3. Cess hiked from third-dimensional to four-dimensional (renamed as Health & Education Cess)

4. Rs 50,000 interest financial gain for senior voters tax exempted underneath newly introduced Section 80TTB

On December 25, 2018 by www.taxexcel.net

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Budget 2018 was a good budget for Senior Citizens of the country and provided much-needed relief. For income tax purpose, any citizens with age of 60 years or more are considered as the senior citizen. We discuss the new income tax benefits for senior citizens below:

On September 22, 2018 by www.taxexcel.net

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