Centre decides to withdraw tax on Provident Fund News have surfaced that the Prime Minister has instructed the Finance Minister to put a hold on the proposed plan to impose tax on PF withdrawals. Finance Minister Arun Jaitley is expected to make an official announcement in this regard shortly. Employee unions all over the country have been vehemently opposing the proposed tax … [Read more...]
Tax rebate under Section 87A increased to Rs.5000
Tax rebate under Section 87A increased to Rs.5000 Union Finance Minister Shri Arun Jaitley spoke on the Key Reform Measures in his Budget speech 2016-17 Increased relief for middle-class tax-payers by raising the ceiling of tax rebate under Section 87A to Rs. 5,000 for individuals with income less than Rs. 5 lakhs and by raising the limit of deduction of rent paid under … [Read more...]