Web15 mrt. 2024 · New Limits – For Providing Services There has been no change in the threshold limits for service providers. Persons providing services need to register if their … WebThe exemption amount should meet either of the three criteria below: The HRA paid. Rent less than 10% of your basic pay. In metro cities, 50% of the basic or else 40% of your …
Income Tax on Non Resident Indians (NRI) - TaxGuru
Web11 apr. 2024 · Benefits available for senior citizens under IT Act 1961. Divyanshu Sharma , 11 April 2024. Share. 1. Higher Basic Exemption Limit. For Senior Citizens the basic exemption limit is fixed at Rs. 3 lakh & For Super Senior Citizen it is Rs. 5 … Web1 feb. 2024 · However, for senior citizens (above 60 years but below 80 years) and super senior citizens (above 80 years of age) the basic tax exemption limit is Rs 3 lakh and Rs 5 lakh, respectively, in the old tax regime. In the new tax regime, the basic tax exemption limit was Rs 2.5 lakh irrespective of the age of the taxpayer till FY 2024-23. the ikike field is located
House Rent Allowance (HRA): Exemption & Deduction Rules.
Web12 apr. 2024 · Salaried individuals, who live in rented houses, can claim the House Rent Allowance (HRA) to lower their taxes – partially or wholly. This allowance is for expenses related to rented accommodation. If you don’t live in a rented accommodation, this allowance is fully taxable. Please note that the tax exemption of house rent allowance … Web8 jan. 2024 · “The general obligation to file an income-tax return by an individual arises if the gross total income (before claiming the specified deductions /exemptions) exceeds the basic exemption limit... Web31 okt. 2024 · As per income tax laws, ITR must be mandatorily filed if a resident individual's total income during the financial year exceeds the basic exemption limit. Remember, the basic exemption limit for an individual depends on his/her age, provided he/she opts for old income tax regime. If an individual taxpayer opts for new tax regime, … the ikettes mary brown