Income tax slab for fy 2016 17 pdf

Please forward this error screen to md-in-7. Income tax slab for fy 2016 17 pdf to Save Income Tax for FY 2017-18? Tax Planning PDF for FY 2017-18. 5 6c-1 0-2 1-2 2v7h-5v-13h5V10s1.

9 2 2 0 . But before that lets look at the changes that happened in Income Tax laws in Budget 2017. The tax rate for income between Rs 2. Tax Rebate under Section 87A reduced to Rs 2,500 for income up to Rs 3. These 3 are the most popular sections for tax saving and have lot of options to save tax.

The maximum exemption combining all the above sections is Rs 1. 80CCC deals with the pension products while 80CCD includes Central Government Employee Pension Scheme. We have done a comprehensive analysis of all the above available options and you can choose which is the best for you. Budget 2015 has allowed additional exemption of Rs 50,000 for investment in NPS.

This is continued this year too. We have done a complete analysis which you can read by clicking the link below. Earlier there was NO limit on interest deduction on rented property. Budget 2017 has changed this and now the tax exemption limit for interest paid on home loan is Rs 2 lakhs, irrespective of it being self-occupied or rented. However for rented homes any loss in excess of Rs 2 lakhs can be carried forward for up to 7 years. Budget 2016 had provided additional exemption up to Rs 50,000 for payment of home loan interest for first time home buyers.

To avail this benefit the value of home should not exceed Rs 50 lakhs and loan should not be more than Rs 35 lakhs. Should you Invest in Capital Gain Bonds to Save Taxes? However there is no deduction on principal paid for the Education Loan. The loan should be for education of self, spouse or children only and should be taken for pursuing full time courses only.

The loan has to be taken necessarily from approved charitable trust or a financial institution only. The deduction is applicable for the year you start paying your interest and seven more years immediately after the initial year. So in all you can claim education loan deduction for maximum eight years. You can claim maximum deduction of Rs 25,000 in case you are below 60 years of age and Rs 30,000 above 60 years of age.

This deduction can be claimed irrespective of parents being dependent on you or not. However this benefit is not available for buying health insurance for in-laws. HUFs can also claim this deduction for premium paid for insuring the health of any member of the HUF. To avail deduction the premium should be paid in any mode other than cash. Self, Spouse, dependent Children and Parents. Its continued to this year too. Cost incurred for treatment of certain disease for self and dependents gets deduction for Income tax.