http://gconnect.in/gc/personal-income-tax/standard-deductions-for-income-tax-may-be.html A Community Website for Govt. Officers Tue, 07 Sep 2010 16:40:48 +0000 hourly 1 http://wordpress.org/?v=3.0.1 http://gconnect.in/gc/personal-income-tax/standard-deductions-for-income-tax-may-be.html/comment-page-1#comment-4890 sundararam varanasi Tue, 30 Jun 2009 12:13:11 +0000 http://gconnect.in/gc/?p=1205#comment-4890 A writ petition filed by me seeking annulment of amendment to sec.16(withdrawal of Standard Deduction) is pending with the Hon'ble A P High Court. It is hoped that better counsel would prevail upon the central government and standard deduction would be restored in the coming budget, obviating the pursuit of the legal recourse by me A writ petition filed by me seeking annulment of amendment to sec.16(withdrawal of Standard Deduction) is pending with the Hon’ble A P High Court. It is hoped that better counsel would prevail upon the central government and standard deduction would be restored in the coming budget, obviating the pursuit of the legal recourse by me

]]> http://gconnect.in/gc/personal-income-tax/standard-deductions-for-income-tax-may-be.html/comment-page-1#comment-4839 sangeeta Wed, 24 Jun 2009 07:40:39 +0000 http://gconnect.in/gc/?p=1205#comment-4839 Is tution fees reimbursement is taxable income? Is tution fees reimbursement is taxable income?

]]> http://gconnect.in/gc/personal-income-tax/standard-deductions-for-income-tax-may-be.html/comment-page-1#comment-4815 N S POONIA Sun, 21 Jun 2009 07:01:25 +0000 http://gconnect.in/gc/?p=1205#comment-4815 Really, Standard Deduction earlier allowed @ 33.33% to the salaried employees shall meet the end of justice in lieu of compensation for the expenditure incurred towards earning of the salary and accordingly, as such salaried taxpayers shall pay tax on net salary just like an individual businessman pays tax on net income after deducting all the expenses incurred towards earning of the said income. Otherwise, salaried taxpayers may also be allowed to claim all such expenses incurred for earning of the salary just like an individual businessman claims as such expenses for the same purpose and under such a situation, there is no need to allow deduction as Standard Deduction, separately. It is natural justice if all individual taxpayers are given equal facility & liability under the Indial Income Tax Law when their status is 'Individual' and the income tax slabs are also the same. Really, Standard Deduction earlier allowed @ 33.33% to the salaried employees shall meet the end of justice in lieu of compensation for the expenditure incurred towards earning of the salary and accordingly, as such salaried taxpayers shall pay tax on net salary just like an individual businessman pays tax on net income after deducting all the expenses incurred towards earning of the said income. Otherwise, salaried taxpayers may also be allowed to claim all such expenses incurred for earning of the salary just like an individual businessman claims as such expenses for the same purpose and under such a situation, there is no need to allow deduction as Standard Deduction, separately. It is natural justice if all individual taxpayers are given equal facility & liability under the Indial Income Tax Law when their status is ‘Individual’ and the income tax slabs are also the same.

]]> http://gconnect.in/gc/personal-income-tax/standard-deductions-for-income-tax-may-be.html/comment-page-1#comment-4800 Ajoy Sankar Roy Fri, 19 Jun 2009 07:16:04 +0000 http://gconnect.in/gc/?p=1205#comment-4800 When the 60% rest arrear payment will be made? When the 60% rest arrear payment will be made?

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