Income Tax Exemption Limit Raised (2009-2010)
THE Finance Minister, in today’s budget speech, announced marginal tax benefits for individual tax payers. He increased the basic exemption limit for male taxpayers and female taxpayers by Rs 10,000 and that of senior citizens by Rs 15,000. Further, he abolished the surcharge of 10% on income over Rs 10 lakh. The new tax slabs [...]
HRA and Tax Benefits
Introduction In this article I will be explaining about the tax declaration for House Rent Allowance(HRA). If you are employed in any company you would have got request from your employer to update the Tax Planning and Declaration for 2009 – 2010. Then you can declare tax savings on Section 80c for Rs.10000 and home [...]
Tax benefits on medical insurance
Introduction In this article I will be writing about the tax benefits for medical insurance. It is very common that most of the companies will enforce their employees to take the medical insurance policies. It is mostly compulsory in the companies. Interestingly most people not aware that the premium paid on the medical insurance is [...]
