Budget 2014 Highlights

Direct Taxes (Income TAX), Tax Saving Plans & Insurance Sector •Relief to individual tax payers •No change in tax rate •Personal Income Tax Rebate Increased to Rs. 2.5 Lakhs for all tax payers under age of 60 •Personal Income Tax Rebate Increased to Rs. 3.0 Lakhs for Senior Citizens •Investment … Continue reading

In Budget 2014_Reduction in excise duty on vehicles, no changes in personal tax

Finance Minister, P Chidambaram’s once delivered a non-populus Budget. In his interim budget in parliament today, he announced massive excise duty cuts in the auto sector making cars cheaper. -Excise duty on SUVs have been cut to 24% from 30% -Excise duty on Small cars, motor cycles, scooters and commercial … Continue reading

Income Tax Return Form for Assessment year 2012-13

Income Tax form for assessment year 2012-13 has been released by Income Tax department .ITR-1 (Sahaj) ,ITR-2 ,ITR-3, ITR-4 and ITR-4S( sugam) has been released . ITR-5 and ITR-6 can only be filed through e filing mode . Important points to be noted; 1) Due date to File income tax … Continue reading