Content updation is under process....
- Upto 4 lakh - nil
- 4 lakh to 8 lakh - 5%
- 24 lakh above - 30%
- 115 BAC - New tax regime
- Section 10 (14)deduction - Official Allowance, Official conveyance allowance,
- Travel /Tour allowance, Daily allowance (official), Handicapped TA (Rs 3200 pee month
- Section 10(10) - Gratuity
- Section 10(10AA) - Leave encashment
- Section 10(10A) - Commuted pension
- Section 10(10C) - upto 5 Lakh
- Section 10(11) - Public provident fund
- Section 10(12A) - NPS withdrawal (60%)
- Section 10(12B) - Partial withdrawal (25%)
- Section 10(12AB) - UPS lumpsum payout
- Section 10(12AA) - Individual corpus (60%)
- Section 16 - Standard deduction (Rs 75,000)
- Section 80 CCD(2) - Employer contribution (14 % - UPS 18.5%)
- Section 57(iia) - family pension (1/3rd or 33.33% or 25,000) - Tax head (Income from other sources)
- Section 80CCH - Agniveer corpus fund
- Section 24(b) - Home loan interest -
- Section 24(a)-30% of NAV
- Surcharge >50 lakh - 10% on the tax
- >1 crore - 15%
- >2 crore - 25%
- Section 87 A - Rebate - upto 12 lakh (i.e Rs 60,000)
- Section 288B - Health and education cess (4%)
- Section 89 - Relief on arrear income
- New income tax act 2025 - w.e.f 01/04/2026
- TCS - Tax collection at source - Overseas tour(2%)
- Education and medical benefit abroad (2%)
- Section 139(5) - Revise the tax - March 31
- ITR 1&2 - 31st July
- Reassessment - 10% on the tax
- Section 234A - 1% per month
- Tax holiday till 2047- cloud service
0 Comments