8 rules of income tax, effective from 1st April, know how much benefit will be

8 rules of income tax, effective from 1st April, know how much benefit will be

With the introduction of the new rules, you will be able to calculate how much your taxable income will be and how much you will pay for it.

New Delhi: From 8th April, 2018, eight rules related to income tax will be changed. You need to know the change in income tax rules. This will facilitate tax planning for you financial year2018-19. With the introduction of the new rules, you will be able to calculate how much your taxable income will be and how much you will pay for it.

In the year 2018, the central government has made a standard deduction of 40,000 rupees for salaris classes. Accordingly, the salaried taxable income will be reduced by Rs 40,000. About 2.5 crore employees will get the benefit of standard deduction. In 4 percent of the Cess Budget 2018, the finance minister has increased the education and health cess on income tax from 3 percent to 4 percent. This means that you now have to pay 1 percent more on the total income tax or 4 percent cess. Read next ... How much tax on profits on equity investment

New Delhi: 8 rules related to income tax will be changed from 1 April 2018. You need to know the change in income tax rules. This will facilitate tax planning for you financial year2018-19. With the introduction of the new rules, you will be able to calculate how much your taxable income will be and how much you will be paying for it. Rs 40,000 for the tenants; Standard Dividend Budget In 2018, the central government has made a provision of Rs 40,000 for a standard deduction for salaris classes. Accordingly, the salaried taxable income will be reduced by Rs 40,000. About 2.5 crore employees will get the benefit of standard deduction. In 4 percent of the Cess Budget 2018, the finance minister has increased the education and health cess on income tax from 3 percent to 4 percent. This means that you now have to pay 1 percent more on the total income tax or 4 percent cess.

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