News & Updates

"Tax rates reduced to 5% from 10% on income in the slab 2.5 lakhs to 5 lakhs. This will largely increase the tax compliance as well as the tax base. In order to increase this benefit, the FM also announced that a rebate of Rs. 2,500 will now be available to all assesses who earn income up to Rs 3.5 lakhs. This will either reduce their tax liability to zero or at least by 50%. Hence this is a welcome move. Even if you earn up to 4.5 lakhs and exhaust the limit of 1.5 lakhs available in section 80C deductions, then you do not pay any tax. Apart from this, the overall tax liability has been reduced and taxpayers will end up saving Rs 12,500 in taxes," says Vaibhav Sankla, Managing Director, H&R Block India. ~ THE FINANCIAL EXPRESS

08-02-2017

Bringing some cheers to the individual tax payers, Finance Minister Arun Jaitley halved the income tax rate to 5 per cent for individuals having taxable income between Rs 2.5-Rs 5 lakh compared to 10 per cent earlier. Meanwhile, Mr. Jaitley increased the tax burden of people having taxable income between Rs. 50 lakh-Rs. 1 crore by imposing an additional surcharge of 10 per cent on the 30 per cent tax amount which was already there to offset the revenue loss to the exchequer.   ~ NDTV PROFIT

08-02-2017

EMI benefit for HDFC Bank Credit card holders converts annual premiums to easy 3/6 months installments. This provision is only available for first premium. Depends on customer's discretion to avail or not. HINDUSTAN TIMES

08-02-2017

TAX CUTS FOR SOME, HIGHER TAX FOR OTHERS The Budget has cut tax marginally. But changes in tax rules for home loans and the surcharge on incomes over Rs 50 lakh mean some taxpayers will pay a higher tax next year. THE ECONOMIC TIMES

08-02-2017

Minor gains for small taxpayers Lower rate of 5% reduces the tax, but the reduction of the tax rebate under Sec 87 pares the gain. Even so, the overall tax is reduced by half. - THE ECONOMIC TIMES

08-02-2017