Your personal income tax rate won't go down soon

A simple primer on how much money taxpayers can save under various sections of the Income Tax Act. Saving on taxes is a key agenda for every salaried individual. Tax planning season is almost coming to an end with the end of the current financial year (March 31, 2015). However many salaried people end up paying higher taxes by not effectively planning for tax saving well in advance. This can be due to lack of understanding with respect to tax saving avenues that one should consider and the ...

Finance Minister Arun Jaitley addressing the post Budget 2015 press conference in New Delhi. (PTI) Within days of Finance Minister Arun Jaitley presenting his Budget 2015 , Finance Ministry said personal income tax rates will not be changed in ...

The Union Budget proposals are aimed at making the business atmosphere congenial, said SK Misra, Director General of Income Tax, Karnataka and Goa. Speaking at a seminar organised by Assocham here today, Misra said, Tax proposals clearly point to ...

During a hearing last month, Sen. Chuck Grassley asked IRS Commissioner John Koskinen about the tax consequences of the President's unilateral action that essentially grants amnesty to five million people in the country illegally, specifically as it ...

The income-tax department has demanded that foreign portfolio investors pay minimum alternate tax by March 31. MUMBAI: The income-tax department has demanded that foreign portfolio investors pay minimum alternate tax by March 31, just days after Finance ...

12:19 EST Pennsylvania Gov. Tom Wolf calls for raising the state's personal-income tax by 20% to 3.7% and the sales tax by 10% to 6.6% as part of the Democrat's first budget proposal as he also backs lowering the corporate-tax rate 40% to 5.99%.

New Delhi : In order to mop up a larger share of revenue before the end of the current financial year, the Income Tax department has identified over 44 lakh high-value spenders in the country who have not filed their returns till now. A total of ...

Employees accept the airline's basic bargain: they work long shifts but are given free housing, and there is no income tax in the UAE. By Jad Mouawad ABU DHABI/UNITED ARAB EMIRATES: Emerging from the desert like some giant steel squid, the organic forms of ...

Small and mid-income earners stand to gain due to an additional deduction under Sec 80CCD, super rich taxpayers will have to shell out more. Finance Minister Arun Jaitley's second budget is a mixed bag for taxpayers. While small and mid-income earners stand ...