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Social - 49% People Looking For Tax Relief In Budget 2017, Says Localcircles Survey album

Social - 49% People Looking For Tax Relief In Budget 2017, Says Localcircles Survey album
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Title: 49% People Looking For Tax Relief In Budget 2017, Says Localcircles Survey
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LocalCircles survey shows majority want the next Govt to reduce the unemployment rate. Shereen Bhan talks to experts. com. angel-tax-loca. 1496433/.

Tax Filing in India Yes people are happy. Mr. Jaitley seemed worried about the number of tax evaders in the country. Yeah people with annual income falling under the tax slab of . -5 lakhs are happy with the tax relief in the budget because if the deductions from the taxable income for investments under the section 80C and the rebate of income tax under the section 87A of the Income tax act are utilized properly the tax payable.

However, in his Budget 2017 speech, Prime Minister Datuk Seri Najib Razak did not announce any change to personal income tax rates. Instead, he announced a few tax reliefs, including the new lifestyle tax relief. The new lifestyle tax is not exactly new. It combines a few tax reliefs into one, allowing taxpayers to claim yearly. Based on the example above, you will pay a lower tax on the year that you claim for the computer tax relief in YA 2016 and prior, but you will see a higher tax in the two other years that you are not claiming for computer. On the other hand, because of the wider categories in the new lifestyle tax relief, it is much easier to maximise the amount every year. In this case, you will see a savings of RM30 over three years. According to Jagdev Singh, tax leader from rs (PwC), the actual increase in tax relief is marginal.

LocalCircles is a mobilising force, and is quick to remind that they don’t do ground campaigns like the popular Ugly Indian. Their work relates to actual governance, including policy change and collective action, both at national and local levels. Like, we did a poll on telecom services in India, says Taparia, to get a sense of how they’re working. There were five questions, and 35,000 people voted in that poll. LocalCircles still has a long way to go before it is a permanent and natural fixture in Indian society. Until then, Taparia says, We’re focused on rolling out the platform to lots of people. Even today, we allow people by invitation and approval only. As we roll out more networks for ministries, people will be able to come and rate businesses and services, and find trusted information from their own communities. We have to roll it out to a lot more people, and we’ll eventually have LocalCircles in all the metros.

Looking ahead, the Survey presents an economic vision for a precocious, cleavaged India. This makes India sound like a busty teenager aiming for Bollywood. What the Survey means is that India has instituted democratic rights far earlier than most countries in history, but is cloven by more regional, religious and caste distinctions than almost any other country. The first budget of Independent India was presented by the first finance minister R K Shanmukham Chetty. This was from the seven-and-a-half period from August 15, 1947 to March 31, 1948. This budget was also the modest beginning at major indirect tax reforms that would lead to the change in GST regime.

Find Localcircles Latest News, Videos & Pictures on Localcircles and see latest updates, news, information from NDTV. Explore more on Localcircles. Localcircles' - 6 News Result(s). School Fee Hike: '10% Increase In New Session', Say Parents. Education Indo-Asian News Service Thursday April 6, 2017. Around 72 per cent people feel that schools have increased fees beyond 10 per cent in this new session, according to a survey participated in by 9,000 parents and grandparents. Sriram Sharma Friday January 22, 2016.

Budget 2017 proved the phrase expect the unexpected from a personal tax perspective. There was much speculation until the budget day regarding reduction in slab rates and other sops for the salaried class. However, Mr. Jaitley came up with a simple, yet impactful set of proposals to please the common man. The existing tax rate of 10% for income range between ₹ . lakh and ₹ 5 lakh has been brought down to 5%, which has cheered many. There is also the assurance of non-scrutiny in the case of first-time tax filers of the above class as a way to bring more people into the tax office. The deduction u/s 80CCD towards contribution to NPS has been increased by 20% in respect of self-employed persons from the present 10% which is also a welcome move.

Tax threshold changes. Personal tax reductions have not been a feature of the Budget since 2010. Rather the focus of successive budgets has been on returning to surplus, with the occasional hint that the government would consider tax rate reductions when conditions allow

You must have paid tax in the year. You’ll get tax relief based on what you’ve spent and the rate at which you pay tax. Example If you spent £60 and pay tax at a rate of 20% in that year, the tax relief you can claim is £12. For some claims, you must keep records of what you’ve spent. You must claim within 4 years of the end of the tax year that you spent the money. If your claim is for the current tax year, HM Revenue and Customs (HMRC) will usually make any adjustments needed through your tax code

Morrison stressed that people on low to middle incomes would get a tax cut before big business. Under the plan, the government says that 94% of taxpayers in 2024-25 will face a marginal rate of 3. % or less. That compares with 63% if the system was unchanged. Morrison said that in the first step, there would be relief for lower and middle income earners. The second step would protect taxpayers from bracket creep, while the third step would make the income tax system simpler and flatter

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