Income Tax 2014-2015
THE TAX SLAB u/s INCOME TAX' for Indian < 60 years age.
Income Rs 1/- to < less then 2,50,000/- tax applicable 0%
Income Rs. 2,50,000/- to 5,00,000/- tax applicable 10%
Income Rs. 5,00,000/- to 10,00,000/- tax applicable 20%
Income Rs. 10,00,000/- and above > tax applicable 30%....
DEDUCTIONS ALLOWED TO SAVE TAX u/s INCOME TAX..
80C, 80CCC, 80CCD : Rs 1,50,000/- for Individual/HUF.
80D : Rs.15,000/- for Self & Family. (Mediclaim/Health)
80D : Rs.20,000/- for Senior Citizen Parents. (Mediclaim)
24(B) : Rs. 1,50,000/- for Home Loan interest ...
80E : Interest on Education Loan (No Limit)
80DD, 80DDB, 80U, other deductions depending on Illness.
80G : Donations - 50 - 100% of actual Donations.
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