For assets other than the listed shares / units of mutual funds schemes, tax is payable in respect of long term capital gains at a minecraft 1.5.2 auto update flat rate of 20 and the amount of gain has to be adjusted for inflation through indexation benefit.
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1st October, 2004, provided securities transaction tax has been paid on such sale. .
10,00,000 30 Surcharge @ 10 of tax will be payable by individuals having total income exceeding.Rated.58 /5 ( 1721 Votes) Tax Slab* for Financial Year 2013-14 Income Tax Slab Rate for Financial Year 2016-17 Tax Slab* for Financial Year 2014-15 (Assessment Year 15-16) For Men below 60 years of age For Senior Citizens (Age 60 years or more but.Ads by Google by m Team 1st Feb 2017 Update: The Budget for FY 2017-18 has a lot of new provisions.60,000/- ( 60 years).The Sovereign Gold bond scheme is launched to discourage the purchase of physical gold for the investment purpose.Below 60 years of age) is.50 lakhs.Once a final decision is taken on the property you want to reinvest in, you can opt for an exit from SBI Plan, but you will need to get a certificate of consent from the assessment officer.However, the interest component of home loans is allowed as deduction under Section 24 B for up to Rs2 lakh in case of a self-occupied house.Other Important Links : Download free Major ITR Forms for Financial Year ITR1, ITR2, ITR2A, ITR4S - pdf files, Fillable files AND Instructions HOW TO make best USE OF section 80C OR Saving Tax By Investing Under Section 80C How to Avoid TDS Deduction by Banks.However, there are a few conditions: You can not claim tax benefit on health insurance premium paid for your in-laws; Proof of payment of premium has to be furnished, in order to avail the tax benefit The health insurance premium must be paid from taxable.Now there are no sectoral caps and individuals can save in any of the schemes upto.1,50,000/- (now even in PPF it is allowed upto.
Interest received / dividend received) Lock in Period and other Remarks National Saving Certificates - ( NSC scheme ) Section 80C.50 for viii Series 5 Year NSCs; and .80 for 10 year NSCs for.10 for viii Series 5 Year NSCs; and 10 year.
This deduction is available to those, who live in rented house, and do not get House Rent Allowance from their employer.
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Therefore, now remember that you will not have fixed rate of return on these investments. .It means that total tax deduction under Section 80C can go upto. Education loan taken for siblings (brother / sister) or other relatives (in-laws, nephew, niece, etc.) would not qualify for section 80E benefit.The proceeds of the sale of the capital asset can be parked in the fixed deposit scheme under the Capgains Plus plan at an interest rate marginally higher than what bonds under Section 54 EC would fetch.You were to get the tax benefit only in the year in which you have invested in these instruments. .Thus effectively, now these are covered under the maximum limit of .1,50,000/- under section 80C.1,25,000/- Section 80CCC - Contribution to provident fund of LIC or irda approved insurer.The rent on the property does become part of your income.