IMPORTANT FOR TAX PLANNING for A.Y 2016-17

IMPORTANT FOR TAX PLANNING for A.Y 2016-17

• Deduction u/s 80C Rs 1,50,000 is same.
• Deduction u/s 80CCD has been increased by Rs 50,000 towards New Pension Scheme. The total contribution has been increased from Rs 1 Lakh to Rs 1.5 Lakh
• Deduction on account of interest on house property loan (Self occupied property) Rs 2,00,000.
• Deduction u/s 80D on health insurance premium Rs 25,000, increased from Rs 15000. For Senior Citizens it has been increased to Rs 30,000 from the existing Rs 20,000. For very senior citizen above the age of 80 years, not eligible to take health insurance, deduction is allowed for Rs 30,000 toward medical expenditure.
• Exemption of transport allowance Rs 19,200 (Increased from Rs 800 pm to Rs 1600 pm).
• Payments (Interest & maturity amounts) on Sukanya Samriddhi Account Deposit Scheme is exempted from Income Tax Under Section 80c. So it comes under Exempt – Exempt – Exempt tax category. It looks better than PPF (Public Provident Fund) now.

TRP R.K PODDAR, MOBILE - 9835639702

INCOME TAX SLAB RATE FOR A.Y 2016-17

TRP R.K PODDAR, MOBILE - 9835639702

INCOME TAX DEPARTMENT

TRP R.K PODDAR, CONTACT- 9835639702

How to file INCOME TAX RETURN ONLINE

• "AAPKO AB KAHI JANE KI JARURAT NAHI BUS GHAR/OFFICE ME BETHE-BETHE HI APNA INCOME TAX RETURN JAMA KARAEN" 

• "100% Online Facility"

• CONTACT - TRP R.K PODDAR

• MOBILE - 98356-39702,

• EMAIL - trprkpoddar@gmail.com

DOCUMENT REQUIRED FOR FILING E-RETURN:-

1. PHOTO COPY OF PAN
2. PHOTO COPY OF BANK ACCOUNT
3. FORM NUMBER 16 OR 16A OR BOTH
4. ADDRESS 
5. TAN NUMBER OF TDS DEDUCTOR 

NOTICE ISSUE BY IT DEPARTMENT

20 March 2013
I-T DEPT TO PROBE 1.2 MN NON- FILERS

Those with valid permanent account numbers ( PAN) and with high- value transactions
but who have not filed income tax (I- T) returns have reasons to worry even if they have
not received any notice from the I- T department as yet. A senior I- T official said, of
about 1.2 million selected, the department had planned to cover 150,000 assesses in the
first phase. It has already sent notices to 105,000 assesses. “This is only on a first cut
pilot basis currently and all those in the list will be tackled systematically in due course,”
said the official, requesting anonymity. He added the notices were being sent in a phased
manner, as handling large number of assesses at one go was difficult, stressing that the
number of notices sent this year was already much higher. The official said 70- 80 per
cent assesses, who had received notices, had already paid their tax dues. The ministrys
current crackdown is on tax evaders who have made significant transactions but not
disclosed their source of income to the department

GRATUITY

Meaning of Gratuity :- A lum-sum amount paid by employer to the employee after retirement is called Gratuity.