"80 C may Increased to 120000 in Budget 2011-12” plus 1 more

80 C may Increased to 120000 in Budget 2011-12

Posted: 15 Jan 2011 09:52 AM PST

The tax exemptions for savings is received under section 80 C of the Income Tax Act while the special window of Rs 20,000 investment in infrastructure bonds is available under section 80CCF.To give some relief to common man battling rising prices, finance minister Pranab Mukherjee is expected to raise the exemption limit on annual savings of an individual in the upcoming Budget. The savings...

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FM unlikely to disturb tax rate structure in Budget 2011-12

Posted: 15 Jan 2011 09:38 AM PST

Those looking for income-tax relief in the forthcoming Budget to fight rising food prices are likely to be disappointed. According to a senior finance ministry official, the Direct Taxes Code (DTC) has to be implemented next year and considering DTC is a composite plan, it will not be a good idea to implement it in bits and pieces. Any change in the personal income-tax rates in the coming...

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