The house rent allowance is non-uniform across the country. Residents of metros – Delhi, Mumbai, Chennai and Kolkata – get a higher tax benefit than those in cities like Bangalore or Hyderabad. However, the rents of Bangalore and Hyderabad are often steeper. Many want a change in this outdated tax law.
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The exemption is to the tune of Rs 800 a month on conveyance allowance.
Tax breaks on tuition fee are clubbed with other investments under section 80 C.
The current exemption limit of Rs 1.10 lakhs is expected to increase to Rs 1.25 lakhs.
FM said Budget '08 will aim to fully fund Govt's flagship programs.
It helps to follow rules and here's why. With more people paying taxes on time, there's a good chance of a tax rate cut.
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Tax dept may reciprocate the generosity of corporate and personal income tax payers.
You may soon be paying service tax on whole range of new services.
Besides health and education, the Centre has offered 42 services.
PM's Economic Advisory Council tells FM to do adjustments in the tax slabs.
Financial year 2008-09 may just turn out to an year of greater saving.
Tax breaks on tuition fee are clubbed with other investments under section 80 C.
