Income tax slab for FY 2016-17 & FY 2015-16

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Updated on 29th Feb 2016

Finance minister Arun Jaitley presented the union of India budget today 29th Feb 2016 for the financial year 2016-17 and assessment year 2017-18.

The following are the highlights with respect to income tax slabs for financial year

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leave travel allowance income tax rules

leave travel allowance income tax rules

Most companies have LTA as part of the tax free compensation offered to employees to save on income tax. Leave travel allowance is tax free and there is no need to pay income tax on the amount availed under LTA subject to conditions.

The following conditions apply to

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Meaning of form 26AS

Meaning of form 26AS

We all are paying income tax and filing income tax returns every year. We pay income tax in may forms either directly and indirectly. Indirect payment of income tax is TDS (tax deducted at source). Our employer deducts our income tax as TDS, our banks deducts TDS on interest income before

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Section 80TTA of income tax act

Section 80TTA of income tax act

Section 80TTA deals with the tax rebate available on interest earned in your savings bank account upto a limit of Rs 10,000 in a financial year. This new section was introduced in the finance act 2012 and is applicable from the financial year 2013-14. Only individuals and HUF

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Documents Required for PAN Card

Documents Required for PAN Card What is PAN Card?

PAN card is the permanent account number issued by an assessing officer of the income tax department. It is a photo identity card that carries ten digit alphanumeric numbers for every card holder.

Uses of PAN Card Photo identity to opening bank account. Filling of income

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Ancient Indian Kushan Era Coin