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Rebate for income tax 2015 16

rebate for income tax 2015 16

2.5 lakh for the financial year 2015-16 available to Salaried Employees, maximum additional income tax exemption for income up.4,44,200 can be availed.
Income Tax Rate Chart In case of Firms/LLP for Financial year 2015-16 Particulars Income Level Taxable Income Upto 1 Crore 1 Crore to 10 Crore Above 10 Crore.Y.90.99.99.Y.90.608.608 Related Posts:-.10 crore by more than the amount of income that exceeds.Relief Under Section 89(1) Relief u/s 89(1) is available to an employee when he receives salary in advance or in arrear or when in one financial year, he receives salary of more than 12 months, or receives profit in lieu of salary covered u/s 17(3).Relief u/s 89(1) is also admissible on family pension, as acuvue oasys moist rebate the same has been allowed by Finance Act, 2002 (with retrospective effect from 1/4/96).3,00,000 but does not exceed .If any amount, including interest accrued thereon, is withdrawn by the assessee gst rebate new housing rental from his deposit account made under ( a ) Senior Citizen Saving Scheme or ( b ) Post Office Time Deposit Rules, before the expiry of the period of five years from the.Nil, income above Rs 2,50,000 but up to Rs 500,000 10, income above Rs 500,000 but up to Rs 10,00,000 20, income above Rs 10,00,000 30, for senior citizens above 60 years of age but less than 80 years: Income Tax Slab, income Tax Rate.10,00,000/- 20 per cent of the amount by which the total income exceeds.HUFs or firms, or companies cannot claim this rebate.1 crore by more than the amount of income that exceeds.Servant for securing deferred annuity for self-spouse or child Payment limited to 20 of salary.These rates are the same as those specified for the financial year 2014-15.e.5 Lakh.In Budget 2016, the government announced additional deduction of Rs 50,000 for first time home buyers on loan up to Rs 35 lakh provided the property value is less than Rs 50 lakh.