By N.K.A. Ballal, Retd. Sr. Vice-President, ITDC An email from an Indian in the UK: My salary in UK is 61,000 pounds per annum without tax. (61,000 x 80 = INR 48,80,000). I pay 40 percent tax on my salary. 48,80,000 – 19,52,000 = INR 29,28,000 balance. Then 700 pounds per month as house rent,…
Mysuru: The Mysore City Pensioners Association has urged the Centre to raise the total Income Tax exemption for pensioners to Rs. 10 lakh and thereafter fix a maximum Income Tax slab of 10 percent, irrespective of the quantum of income for senior citizens, retirees/ pensioners who are dependent only on their pension and interest from…
The end of financial year 2017-18 is fast approaching and the Income Tax on salaries shall be calculated accordingly before the end of March 2018 and remitted before the due date. Any excess or shortfall in taxes deducted can be adjusted during the financial year 2017-18 (before 31.3.2018). The Income Tax is deductible annually for…
The last date for filing of Income Tax Returns (ITRs) for the financial year 2016-17 has been extended till Aug. 5. The original deadline was July 31. The Income Tax Department has already received over two crore returns filed electronically. The Department had earlier issued advertisements in leading national dailies in the last few days…
The end of FY 2016-17 is fast approaching and the Income Tax (IT) on salaries shall be calculated accordingly before end of March 2017 and remitted before the due date. Any excess or shortfall in taxes deducted can be adjusted during the financial year 2016-17, that is before 31.3.2017. The Income Tax is deductible annually…
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