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Rebate for fy 2015 16
Thus effectively, now these are covered under the maximum limit of .1,50,000/- under section 80C.
Let us clarify the same with the help of simple examples : Example 1 :.
Very, senior Citizens (Men and Women above 80 years of age).The Section 88B contains all details about such tax rebates.3 education cess will be applicable on income tax surcharge Income Tax Slab for Individuals who are over 80 years of age Income Tax Rates i) Income up to 5 Lakh NIL ii) Income From 5 Lakh to 10 Lakh 20 on income over.5. Therefore, now remember that you will not have fixed rate of return on these investments. .5,00,000,it is proposed to amend section 87A so as to reduce the maximum amount of rebate available under this section from existing.You can deduct the entire interest amount from your taxable income.AY 2016-17 the following rates were also applicable for FY 2014-15 (AY 2015-16).
The same shall be available for individuals having income upto.3.5 lakhs only.
Feel free to share your valuable feedback and any queries thereon in the comment section below!
Assessment Year 2015-16, the last date has been extended upto 31st August 2015.
In case the house is in the joint name of your spouse and you (joint loan each one can avail of Rs2 lakh interest component deduction. .
75,000/- Section 80DD - Maintenance, including medical treatment of a dependent who is a person with severe disability.Similarly, if shares or other financial securities such as mutual funds are sold within one year of purchase, the profit earned is treated as Short Term Capital Gain.Section 54EC of the I-T Act, 1961 : Relief from Capital Gains Tax You can make good use of this Section to save Taxes specially when you sell some property. .NPS Section 80C Market Linked Market Linked Interest earned is tax free Withdrawal not permitted before maturity Tuition Fees including admission fees or college fees paid for full time education of any two children of the assessee.For uninsured super senior citizens (more than 80 years old) medical expenditure incurred up to Rs 30,000 shall be allowed as a deduction under section 80D. .A after deductions.500000.The existing provisions of section 87A provide for a rebate up.