Corporates are surely happy to get the tax relief with Corporate Taxes being brought down from 30% to 25%. The aim is to make India an attractive investment destination in line with other countries like Singapore and the UK! We would have loved the cut to plunge to 15% with speculations of the US doing it soon. Hopefully, we will see more job opportunities here especially with the impacts of the Trump era policies all set to affect us too.
We get to carry forward the MAT for 15 years as against the 10 years previously that is a happy news for us in the industry. Our expectations, however, were a total abolishment of the tax.
Personal Income Tax Reliefs
There are some great attractions that the Budget has to offer. You can Look4Expert to guide you to get the maximum benefits. Here are some simple explanations of how you can benefit.
Your income as the salary that includes the different perks and allowances can get the Income Tax benefits when they are within certain limits. The first relief in a reduction of IT by 5% on the 2.5 – 5 lakhs annual income slab. Special deductions in the category are here to give you relief.
This apart, whatever be your income, the experts can help you work the relief amounts on the HRA, Medical Reimbursement, LTA and LTC. Some categories of gifts from a close relative on occasions and dividends are also tax-free. Learn how the experts can help you invest prudently and earn you further tax benefits giving you the added financial advantage. For more information contact us