Category: Amendments Income Tax

Income Tax Rates AY 11-12 & AY 12-13

June 19th, 2012
INCOME TAX RATES AY 2011-12 INCOME TAX RATES AY 2012-13 INDIVIDUAL INDIVIDUAL upto 160000 NIL upto 160000 NIL 160001 TO 180000 10% 160001 TO 180000 NIL 180001 TO 500000 10% 180001 TO 500000 10% 50000… more »

Income Tax Audit Limit

June 19th, 2012
Upto FY 2009 -1 0 : 40 Lakhs From FY 2010-11 : 60 Lakhs more »

Stamp Duty : Immovable Property Valuation

June 18th, 2012
Stamp duty department to decide your income tax     Hard to Belive but it is true with the recent amendment in section 50C and newly inserted section 56(2) (vii) in the income tax act w.e.f 01/10/2009 this is what the effect is and which is going to… more »

Education loan

May 29th, 2012
Eligbility for tax deduction: The interest is avail for deduction in income tax under section 80E only if loan is taken for yourself ,spouse , chlideren collateral requirement: if the loan is  above 3-4 lakh the lender may insist on a collateral securi… more »

TAX BENEFITS FOR SENIOR CITIZENS

May 29th, 2012
1) The Income Tax Act identifies a senior citizen as a person who is 65 year of age or more at any time during the previous year. It provides for special benefits for such persons. 2) As per the IT Act, senior citizens who have an income up to Rs 2.4 l… more »
 

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