Friends,
The Basic exemption limit has been kept unchanged. The slab rates have been changed as 10% upto Taxable Income of Rs. 5,00,000/- 20% on the income between 5,00,00/- to 8,00,000/- and 30% on the income above Rs. 8,00,000/-. Education Cess and Secondary & Higher Education Cess shall continue. (Download for FREE Last Ten Year Income Tax Slab Rates)
A new deduction u/s 80 CCF has been introduced for invest in long-term infrasture Bonds upto a maximum of Rs. 20,000/-.
A new deduction u/s 80 CCF has been introduced for invest in long-term infrasture Bonds upto a maximum of Rs. 20,000/-.
Contribution to Central Government Health Scheme (CGHS) by Government employees/pensioners, shall also be deductible u/s 80D upto Rs. 15000/-
The monetary limit for persumptive tax scheme for small business assessees u/s 44AD, has also been raised to Rs. 60 Lacs.
w.e.f. 1.6.10 ,bullion received as gift by an individual/HUF, shall be taxable as his/its income, subject to spcified conditions.
Threshold limits of Tax Deduction at Source on various payments have been incresed w.e.f. 1.7.2010.
Rate of Minimum Alternative Tax (MAT) in case of companies has been raised to 18% of book profits.However, rate of surcharge in case of domestic companies has been reduced to 7.5%.
New rules of valution of perquisites and ESOP shares w.e.f. 1.4.2009 have been notified. Rules relating to TDS/TCS w.e.f. 1.4.2009, restoring the procedure esisting before 1.4.2009 have also been notified.
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The monetary limit for persumptive tax scheme for small business assessees u/s 44AD, has also been raised to Rs. 60 Lacs.
w.e.f. 1.6.10 ,bullion received as gift by an individual/HUF, shall be taxable as his/its income, subject to spcified conditions.
Threshold limits of Tax Deduction at Source on various payments have been incresed w.e.f. 1.7.2010.
Rate of Minimum Alternative Tax (MAT) in case of companies has been raised to 18% of book profits.However, rate of surcharge in case of domestic companies has been reduced to 7.5%.
New rules of valution of perquisites and ESOP shares w.e.f. 1.4.2009 have been notified. Rules relating to TDS/TCS w.e.f. 1.4.2009, restoring the procedure esisting before 1.4.2009 have also been notified.
Don't Download any thing before free Registration on the TOP of this site and check your Inbox for clicking on activation link of Feed Burner.
