Standard Deduction: Latest News and Updates, Top Stories, Videos, Photos About Standard Deduction

Union Budget 2021: Standard Deduction Limit Can Be Increased To Rs. 1 Lakh

Union Budget 2021: Standard Deduction Limit Can Be Increased To Rs. 1 LakhIn the upcoming budget 2021 i.e. less than a week away, there may be expected a hike in standard deduction limit which shall come as a relief to middle ...

New Income Tax Regime Also Offers This Tax Sop On Let-Out Property: Know All About It

The FM Nirmala Sitharaman in her budget presentation made on February 1, 2020 provided for a lower tax rate structure that may or may not be opted to as per the discretion of taxpayers even every other year but herein individuals ...

Union Budget 2020: Tax Related Changes Made In Budget 2019

Before actually knowing what the Budget 2020 offers for us on taxation, here is a quick look on what the previous full budget presented on July 5, 2019 by Finance Minister Nirmala Sitharaman brought for us: No change in the ...

Budget 2020: Expectations From House Owners And Potential Buyers

The beleaguered real estate sector has seen some of the proposals in the last few budget which have yet gone through and to some extent helped in achieving the government's ambitious plan of housing for all by 2022. Increase ...

Here's How the Change in Income Tax Impacts You

The hopes of the middle class have largely been dashed as the income tax slab rates remain unchanged. Nonetheless as a much awaited relief to young earners and ahead of the election due May, the government has declared complete rebate in ...

New Tax Laws Help You To Save More This Tax Season: This Is How?

The new rules introduced in the Budget 2018, allow you to save more this tax planning season. Know them again here for your ready-reference: 1. Increase in tax benefit on premium against health insurance for parents: The deduction limit was ...

Remember These Changes In Income Tax Rules When Submitting Tax-Saving Proofs

This is the time of the year when you are asked to submit the various tax-saving investment and expenses that qualify for deductions etc. to adjust the TDS amount to be charged on your salary of the last 3 months of ...

Here's How To Reduce Tax Outgo On Pension Income?

Pension income which is paid by the employer at the time of retirement is subject to tax incidence and is taxed under the head salary income while filing of income tax return. So, if you wish to reduce this tax incidence ...

How Will Standard Deduction Impact Your Taxes?

Standard deduction is an income tax provision applicable to salaried tax payers. It is deducted from gross salary while computing taxable income. It is meant to provide some relief to salaried tax payers to offset expenditure typically incurred due to their ...

How Pensioners Can Claim Standard Deduction?

Before we understand the new provision of 'standard deduction' available to pensioners which will help reduce their tax liability. We need to re-state here that pension income is taxable for pensioners under the head 'salaries', so as per the amendment notified ...

Budget 2018 Proposals That Will Apply From April 1

While income tax slabs and rates were kept unchanged in the Budget 2018 announced on February 1, there are several proposals that will come into effect from April 1. 1. Standard deduction for salaried class: A standard deduction of ...

From April 1, Tax Changes That Will Impact Your Income Stream

In the Union Budget some of the tax changes proposed if they are passed through will either turn positive , negative or neutral for taxpayers. So, before the law actually gets implemented its better you make note of to better understand ...

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