Budget 2018 has been kinder to senior citizens, in order to allow them a "dignified life". To begin with, tax exemption of interest income from bank deposits has been raised to Rs 50,000 from the current Rs 10,000.C
Showing posts with label BUDGET 2018. Show all posts
Showing posts with label BUDGET 2018. Show all posts
Thursday 20 December 2018
Friday 7 September 2018
Budget 2018: Changes in Income Tax Rules
1. Standard Deduction of Rs 40,000 for Salaried and Pensioners
2. Transport Allowance & Medical Reimbursement No more tax exempt for salaried
3. Cess hiked from 3% to 4% (renamed as Health & Education Cess)
4. Rs 50,000 interest income for senior citizens tax exempted under newly introduced Section 80TTB
5. Health Insurance Premium Tax exemption limit increased to Rs 50,000 u/s 80D for senior citizens
6. Increased deduction for medical treatment u/s 80DDB for senior citizens up to Rs 1,25,000/-
Thursday 6 September 2018
Budget 2018: Changes in Income Tax Rules
1. Standard Deduction of Rs 40,000 for Salaried and Pensioners
2. Transport Allowance & Medical Reimbursement No more tax exempt for salaried
3. Cess hiked from 3% to 4% (renamed as Health & Education Cess)
4. Rs 50,000 interest income for senior citizens tax exempted under newly introduced Section 80TTB
5. Health Insurance Premium Tax exemption limit increased to Rs 50,000 u/s 80D for senior citizens
6. Increased deduction for medical treatment u/s 80DDB for senior citizens up to Rs 1,25,000/-
Sunday 5 August 2018
Monday 9 July 2018
The new financial year FY 2018-19 starts in another 2 weeks. Every budget makes some changes to tax laws every year and Budget 2018 was no different. We must be aware of these changes and plan our taxes and investments accordingly. Below are the 13 changes that Budget 2018 made and all of these would be applicable from April 1, 2018:
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