Income Tax Calculation for Interest on Housing Loan and Deduction u/s 80C with illustration One Computation of Taxable Salary and allowances, Deduction for Interest on Housing Loan and Deduction u/s 80C. Mr. X, a Central Govt. Officers in Delhi, is receiving Basic Pay Rs.23,720, grade Pay Rs.7,600, DA at prescribed rates, transport allowances @ Rs.3200+DA thereon, and HRA 30% … [Read more...] about Income Tax Calculation for Interest on Housing Loan and Deduction u/s 80C with illustration
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Income Tax 2015-16
Rates of Income Tax as per Finance Act, 2015 – Financial Year 2015-16(AY 2016/17)
Rates of Income Tax as per Finance Act, 2015 – Financial Year 2015-16(AY 2016/17) RATES OF INCOME-TAX AS PER FINANCE ACT, 2015: As per the Finance Act, 2015, income-tax is required to be deducted under Section 192 of the Act from income chargeable under the head “Salaries” for the financial year 2015-16 (i.e. Assessment Year 2016-17) at the following rates: Rates of tax : A. … [Read more...] about Rates of Income Tax as per Finance Act, 2015 – Financial Year 2015-16(AY 2016/17)