September 1, 2004, any gift received by an individual or HUF will be included in taxable income, if the water saving toilet rebate california amount of tax exceeds.25,000/-. .
If the total income of an individual of age 53 years.
2,50,000/-10 of amount by which the total income is more than.
Income Tax Slabs, income Tax Rate.Union Budget have not altered the rebate available under section 87A for FY 2015-16, 2014-15 or AY 2016-17, 2015-16 meaning thereby that effectively there will be no income tax payable up to the total income.270000/- for those having total income not exceeding.If you want to buy a new property one or two years after transferring the original asset, you will have to either wait or look for alternative funds. . Therefore, now remember that you will not have fixed rate of return on these investments. .However, you have to remember that the premium paid by any mode of other than cash is eligible.Home Guides New Income Tax Slab for Financial Year 2015-16.Deduction limit on account of interest on loan in respect of self occupied house property raised from.1.5 lakh.1,25,000/- Section 80CCC - Contribution to provident fund of LIC or irda approved insurer.44AD, 44ADA, 44AE with FAQs Fees Penalty for late / Non filing of TDS Return Assessments under Income-Tax Act, 1961 Advance Tax Provisions, Payment Challan, e-payment Utility Examples All about TDS U/s.If the total tax payable by is less than.Once a final decision is taken on the property you want to reinvest in, you can opt for an exit from SBI Plan, but you will need to get a certificate of consent from the assessment officer.As there was no change in Income Tax slabs for FY 2015-16 (i.e.The penalty for non filing of income tax return.5,000/- (1) Deductions from Taxable Income (Section 80C) :- various investments options available TO individuals AND TAX benefits available under each OF them - Financial Year 2015-16 A new section 80C was introduced (replacing section.Old Rate of Interest.e.f.Use our, new Income Tax Calculator 2015-16 to determine your Income Tax.87A is Available to Resident Individuals for.Y.Therefore, this scheme is a boon for people who have sold their property but haven't been able to purchase the property within the stipulated period. .194A, 194J 193 of Income Tax Act,1961 Certification Course on GST by Ministry of msme- Limited Seats Senior Citizens not having Business Income exempt From Advance tax Section 54B Exemption on Capital Gains from Transfer of Agricultural Land Section 54- Exemption from Capital Gain arising.Deduction shall be allowed in computing the total income in respect of the initial assessment year* and seven assessment years immediately succeeding the initial assessment year or until the interest is paid by the assessee in full, whichever is earlier. .
Section 80DDB - Deduction in case of very senior citizens on expenditure on account of specified diseases.