Exemption limits, standard deduction on radar, reveal Dilasha Seth and Indivjal Dhasmana. The tax simplification committee, chaired by Justice R V Easwar, is likely to touch upon restoration of standard deduction, reviewing of exemption limits and medical reimbursements for personal income tax in their report. The 10-member panel is likely to submit its report to the finance minister this week or early next week. The report might also have suggestions on the incorporation of masala bonds in the ... Rediff.com, 1 month ago
To lessen demonetisation pain: Tax sops in Budget - Rediff.com, 2 months ago
Adjusted for inflation, the earlier scheme would have collected Rs 25,000 crore. Dilasha Seth/Business Standard reports.Illustration: Uttam Ghosh/Rediff.com Union Finance Minister Arun Jaitley's Income Declaration Scheme (IDS) 2016 will collect a little over Rs 30,000 crore (Rs 300 billion) in taxes, whereas former finance minister P Chidambaram's Voluntary Disclosure of Income Scheme (VDIS) in 1997-1998 garnered around Rs 10,000 crore (Rs 100 billion) in taxes. Adjusted for inflation, the ...Rediff.com, 2 months ago
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