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Possibly the current FY i.

Senior Citizens Savings Scheme from financial year Such bonds are redeemable after three years. The Income Tax laws provides for taxes on long-term capital gains at 20 per cent for individuals and foreign firms and 30 per cent for domestic companies. Please ensure to mention and submit your PAN card detail to the bank while submitting form 15 G or 15 H. Lsab also provide that ,who is required to file Income tax return and under which conditions.


Thus, now all payment modes except cash payment are accepted 3 Deductions Under Section 80 E: Every year the income tax rates are changed and it is important to get the latest income tax rates. PAN can be obtained by applying in new Form No. Profession Tax levied by the State Government is allowable as a deduction from Gross Salary provided it has been paid.

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Download New 15G -15 H Forms

Downloac deduction for senior citizens is raised from Rs 20, to Rs 30, Such instruments will continue to have same return for the whole tenure of the investment. Due to this provision, those who earn below Rs.

Deduction in respect of rents paid, provided the assessee is not in receipt of HRA and no house is owned by self, spouse, minor child or HUF in the place of work subject to filing of declaration in Form No. Relief from Capital Gains Tax You can make good use of this Section to save Taxes specially when you sell some property.

Name, Customer ID, Account no. Request to help and guide with proper clarifications in the context of the Income Tax Act.

However no 89 1 relief can be claimed.

Latest Income Tax Slabs and Rates for FY and AY

The proceeds of the sale of the capital asset can hax parked in the fixed deposit scheme under the Capgains Plus plan at an interest rate marginally higher than what bonds under Section 54 EC would fetch. May 1, at 2: Kindly reply cownload to my e ail address Regards. Basics of Income Tax in India. I am to submit form 15H to the banks for the first time. For any other assessees Like Salaried Income ,Person having Income from House property ,Interest incomeBusiness Income where accounts are not required to be audited.

All companies are required to compulsorily file their income tax return electronically in ITR-6 with Digital signature. Relief from Capital Gains Tax. A new section 80C was introduced replacing section 88 from the financial year However, unlike the bonds under 54 EC, the depositor cannot put the money in a different kind of asset. It is not for Pension.

Due date To file Income Tax return assessment year | SIMPLE TAX INDIA

Return from April 1, The Incoome Form No. The Capital Gain arising out of sale of long term capital asset can be invested in National Highways Authority of India, Rural Electrification Corporation Limited, within six months from the date of sale subject to a ceiling of Rs. Note prior to 1st Aprilpremium payment was required to be paid only by cheque.

You can deduct the entire interest amount from your taxable income. May 24, at If you have property which is rented out, you can deduct the full interest paid on the home loan. However, some tax relief has been given in FY through the following rebates: We have tabulated the various provisions related to Income Tax return Due date related to Assessment year related to Financial year for all pdff of assessees and relevant provision has also been reproduced.

The last date for filing of income tax return is usually July 31 for individuals sometimes the same is extended.