Income Tax Deductions

TDS rates for FY 2016-17

October 26, 2016

 Section  Nature of Payment  Threshold Limit of Payment 01-04-2016 to 31-05-2016 01-06-2016 onwards 192 Income from Salary Senior Citizen (60 Years)  Rs. 3,00,000 Average rate of Tax +Education Cess (Surcharge if Salary > 1 Cr) Super Senior Citizen (80 Years)  Rs. 5,00,000 Others  Rs. 2,50,000 192A Premature Withdrawal from EPF (wef 01.06.2015) (*If PAN not […]

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Tax benefit on Insurance Premium, Mediclaim & Medical Expenses

September 27, 2016

Payment of premium on life insurance policy and health insurance policy not only gives insurance cover to a taxpayer but also offers certain tax benefits.

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Countrywise Withholding Tax rates as per IT Act vis a vis Tax Treaties/DTAA

September 27, 2016

Certain income of non-resident, inter-alia, dividend, interest, royalty or fees for technical services shall be taxable as per the rates prescribed under the Income-tax Act or…

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