Though Finance Minister Arun Jaitley in his Budget Speech this year did not really make any changes in the Tax percentages or income tax slabs, however some proposals announced by him will still have an impact on the amount of tax you pay.
So let’s see the top 10 Income Tax changes from April 1st this year:
1 STANDARD DEDUCTION REINTRODUCTION
Reasons to cheer for both the salaried class and pensioners, standard deduction of Rs. 40,000 has been reintroduced once again. Standard Deduction refers to a deduction of a fixed sum straightaway from your income to arrive at your taxable income on which the income tax will be calculated. While in case of the salaried class, these might get offset by some other things, for pensioners it’s completely a winner! Moreover, people are not required to submit and proof of bills etc to avail this tax benefit.
2 TRANSPORT ALLOWANCE AND MEDICAL REIMBURSEMENTS NOW TAXABLE
Diese Geschichte stammt aus der April 2018-Ausgabe von Mad About Money.
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Diese Geschichte stammt aus der April 2018-Ausgabe von Mad About Money.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
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Top 5 Investment Options In 2018
With The Commencement Of The Fy 2018-19, Salaried Professionals Are Looking To Make Investment Declarations In A Bid For Tax Exemption Benefits. However, Before One Invests, It Is Crucial To Get An Insightful Knowledge Of The Best Investment Options Available In The Current Market Scenario.
BFSI Industry In India
One Of The Key Players, Fostering India’s Economic Growth Is The Banking, Financial Services And Insurance (Bfsi) Sector. Companies, Who Provide A Product Mix Of Financial Products Or Services, Comprise The Bfsi Sector Of India.
Grow Up & Get Rich Personal Finance Basics For Beginners
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Financial Fears- Fear Of Ever-increasing Loan Debts!
This generation is exposed to easy loans and credit cards which lead to borrowing more to fulfill the long-lived dreams and desires. This might lead to a serious situation where the monthly expenditure and loan payments add up more than your monthly salary. When this situation arises, you again borrow further to fix the problem. But frankly, you are just piling up more and more loans which you cannot pay up for. This cycle keeps on continuing and you end up in a debt trap. Don’t lose hope; there is still a way to deal with this financial crisis.
Axis Mutual Fund Enters Real Estate Business, All Set To Raise 500 Crore
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Top 10 Most Expensive Watches In The World!
The best watches I the world tell time and get you places on time. However, man’s fixation with opulence has sometimes made this utilitarian gadget turn into a statement accessory. Here are the 10 most expensive watches to ever exist in the world as we know it. Warning: it might just leave you awestruck.
GST Application On Financial Services: Government's Clarification
The government’s perspective on the main aspects related to BFSI sector has been cleared. Basically, the government also elucidated that the banking services such as cheque book issuance and ATM withdrawals would not have Goods and Services Tax (GST) levied on them.
Fear Of Retirement And What It Entails!
Today, retirement is a daunting prospect for most of us.
The jist of the Jan - Mar quarter GDP Growth
As per the recent statistics, India maintains its tag of world’s fastest growing economy. India recorded the growth rate of 7.7% from January-March quarter. According to a HSBC Report, the ‘hand of government’ has been the main driving force behind the increase in the January-March GDP growth rate and has been the fastest growth in seven quarters.
