BolmamaBol Info Net

Direct Tax Code Highlights 2010

Perform Sri Ganesh Puja online Musical Ganesh Puja Attn: Dear visitors, For All Latest Results Updates Please Visit Exam Results Info Net. Good Luck and All the best, Thanks for Your Support.

The Cabinet on Thursday approved the draft of the Direct Tax Code (DTC) Bill

The new provisions under the Direct Tax Code are as follows:

  1. Tax for income between Rs. 2 lakh – Rs. 5 lakh: 10%
  2. Tax for income between Rs. 5 lakh – Rs. 10 lakh: 20%
  3. Tax for income over Rs. 10 lakh: 30%

For women and senior citizens, the exemption limit would be Rs 2.5 lakh per annum. At present, women have to pay tax on incomes of Rs 1.9 lakh per annum or more and senior citizens on incomes of Rs 2.4 lakh or more.

orporate tax has been kept at 30%.

On the plus side for individual taxpayers, withdrawal from provident funds will not be taxed as the original DTC had proposed to do. Also deductions from taxable income will be available for interest on housing loans up to Rs 1.5 lakh per annum and on payments into PF and similar superannuation schemes up to Rs 1 lakh. Also available will be a deduction of up to Rs 50,000 for life insurance and health insurance premiums or tuition fees.

The new Code comes into effect from April, 2011. reports toi
In summary You will in fact have to pay less.
highlights Direct Tax code. direct tax code 2011

Blog Widget by LinkWithin Visit Bolmamabol Tv For All Episodes. Feeding Your Drama Addictions, Enjoy Tv online Videos, Thanks Number of View :2334

Possibly Related Posts:


Receive Free Mail Updates

Enter your email address:

Delivered by FeedBurner

Leave a Reply


I am loving Wordpress