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Income Tax Exemption Limit

Dec 04, 2016 at 16:20 | Source: PTI
The Income Tax department has found "various inconsistencies" in cash deposits in Jan Dhan accounts and detected about Rs 1.64 crore deposited by persons who have never filed returns as their income shown is below the taxable limit.
Dec 02, 2016 at 17:01 | Source: Moneycontrol.com
Under the Income Tax Act a basic amount that is earned by the individual as taxable income is not subject to any tax.
Dec 02, 2016 at 14:46 | Source: PTI
Urging the government to consider lifting the cash withdrawal limit for corporate firms, Assocham said there is no scope of misuse as these transactions are properly recorded and audited.
Dec 01, 2016 at 19:40 | Source: PTI
Seeking to quell apprehensions based on rumours, the government today said there is no limit on legitimate holding of gold and jewellery, including from inheritance, and there would be no seizure of bullion up to a certain limit even if that does not seem to match income.
Dec 01, 2016 at 16:44 | Source: PTI
Amendments to the I-T laws do not seek to tax inherited gold and jewellery as also those items that are purchased through disclosed or agriculture income, the government said on Thursday.
Nov 27, 2016 at 11:34 | Source: PTI
Finance Minister Arun Jaitley, who heard the industry in his customary pre-budget meeting, asked them to step up investment.
Nov 23, 2016 at 17:37 | Source: CNBC-TV18
Individuals have been flying into Nagaland from Delhi with scrapped notes in attempts to put it into tribals' accounts, say sources. The I-T department is currently looking into security breaches at Hissar, Delhi and Dimapur airports.
Nov 16, 2016 at 20:54 | Source: PTI
Immediate reduction in the corporate tax to 25 percent to attract more investment in the country, while for driving the consumption led demand should be brought about, Assocham said.
Nov 09, 2016 at 08:12 | Source: CNBC-TV18
Managing Director of the lender, Rajnish Kumar says if the account is KYC compliant, then there is no limitation to depositing money your account. He adds that if an individual is depositing a sum in crore but has an income statement in lakh, then the Income Tax department can come into the picture.
Nov 08, 2016 at 16:41 | Source: CNBC-TV18
Developers have called for a higher income tax exemption on interest on home loans. They have asked to increase the rate of interest subvention from 1 percent to 2 percent on home loan upto Rs 40 lakh.
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India Inc today pressed for reduction in corporate tax, raising of personal income tax exemption limit and steps to mitigate the impact of demonetisation on the economy.

11.34 AM Nov 27th

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MF & Taxes  

Source:Assocham - Raise personal income tax exemption limit to Rs 3 lakh, reduce service tax and excise tax to eight per cent from 12 per cent and increase deduction of interest on housing loan to 5 lakh to revive consumer demand and boost investment, ASSOCHAM said in its pre

4.30 PM Dec 4th 2012

akaj88

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Politics  

If our politicians consider Rs. 71 Lakh to be a very small sum then the Income Tax Exemption Limit should be hiked to Rs. 71 Lakh.

8.24 PM Oct 16th 2012

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Kotak Securities reasoning is 50% correct, but for again flawed, because common man who is below the Income Tax exemption limit is not benefited.Another alternative is Bring Diesel & Domestic LPG cylinders to market based pricing and thereby remove the subsidy element, but then equivalent cross

2.42 PM Sep 6th 2012

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Age limit has already been brought down to 60 for men for all purposesclug Income Tax benefit.Income Tax exemption limit has also been raised to Rs2.5 lac from Rs.2.25 lac.Railways now consider 58 years as senior citizen for women.Railway fare concession for any purpose of journey is 40% for men

3.41 PM Jun 29th 2012

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Source:Business Today - Finance Minister Pranab Mukherjee has put more cash in your pocket. Every taxpayer is set to gain, on an average, Rs 2,000 per annum. Presenting his seventh Budget in the Lok Sabha on Friday, Mukherjee raised the income-tax exemption limit for individuals from Rs 1.8 lakh

10.30 AM May 2nd 2012

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Source:Business Standard - The corporate houses and traders in Uttar Pradesh have expressed disappointment with the Union Budget 2013, saying its proposals would neither boost consumer demand nor control inflation. They criticised the raising of the personal income tax exemption limit from Rs 1

1.38 PM Mar 19th 2012

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Source:Business Today - Prominent highlights of the Budget for 2012-13 presented by Finance Minister Pranab Mukherjee in the Lok Sabha on Friday:* Income tax exemption limit raised to Rs.2 lakh to provide relief of relief of Rs.2,000 for all assessees; 20 percent tax on income over Rs.10 lakh, up

11.53 AM Mar 19th 2012

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Reliance  

. If CRUDEOIl trades below its Resistance then it can show profit booking till 5240-5220 level soon. Once CRUDEOIL manages to trade and sustain above 5330 then it can test 5380 level. Budget Wrap Up Income tax exemption limit raised to Rs 2 lakh from Rs 1.8 lakh No tax pp to Rs 2 lakh income Rs 2-5 lakh taxed

6.23 PM Mar 18th 2012

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Source:The Hindu BusinessLine - Kolkata, March 16: The Union Budget has brought very little to cheer for the real estate sector in the country, according to Mr Anuj Puri, Chairman and Country Head at real estate consultancy firm, Jones Lang LaSalle India. The rise in personal income-tax exemption

10.25 AM Mar 17th 2012

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