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Tax exemption limit News

05 Dec 2017

Budget 2018: Trade unions pitch for Rs 5 lakh tax-free income

Currently, the income tax exemption limit for individual taxpayers is Rs 2.5 lakh, while the minimum EPF pension is Rs 1,000.

29 Feb 2016

Union Budget 2016-17 to be presented today; Income tax exemption limit likely to be hiked

On the income tax front, the Budget 2016 may continue with the status quo on the tax slabs while it may tinker with the exemptions.

29 Jan 2015

Assocham wants retrospective amendment withdrawn in Budget

Pitching for a non-adversarial tax regime, industry body Assocham on Thursday suggested that retrospective amendment be withdrawn in the upcoming Union Budget while calling for e-hearings, quicker IT refunds and raising the tax exemption limits.

22 Nov 2014

Jaitley against burdening salaried, middle class; may raise tax exemption limit

Finance Minister Arun Jaitley on Saturday said that he does not favour burdening the salaried and middle-class with more taxes but would go after the evaders in widening the net.

Public Provident Fund

20 Aug 2014

Now invest up to Rs 1.5 lakh in PPF

People can now deposit up to Rs 1.5 lakh annually in their Public Provident Fund (PPF) with the government notifying changes in the popular savings scheme.

12 Jul 2014

Budget has brought clarity in tax policies: FinMin

Government on Saturday said the Budget 2014-15 has brought about clarity in tax policies and it will walk the difficult path to bring growth impulses back into the economy amidst fiscal constraints.

04 Jul 2014

Hike income tax exemption limit to Rs 3 lakh: PwC

The budget should raise basic exemption limit to Rs 3 lakh from Rs 2 lakh and also introduce a special basic exemption for women at Rs 3.25 lakh beyond which they will come into the tax bracket, the consultancy firm said.

Indian Budget 2014

08 Jul 2014

FinMin may double tax exemption limit under 80C to Rs 2 lakh

Seeking to boost household savings, the Finance Ministry is considering doubling the exemption limit for investments by individuals in financial instruments to Rs 2 lakh.

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