Budget Changes 2018
Income Tax Education Cess increased from 3% to 4% You are here
Income Tax Rate for Companies upto 250 Crore is 25%
Standard Deduction for Salaried Employees Transport,Medical Reimbursement Removed
Section 194A TDS limit increased for Senior Citizens
Section 80D Limit Increased for Senior Citizens
Cash Payment more than 10000 disallowed for Charitable and Religious Trusts also
Section 44AE Limit Changed for Large Motor Vehicles
Section 80D Deduction if Medical Insurance done for More than One Year
Section 80TTB Deduction for Senior Citizens
Long Term Capital Gain on Sale of Shares now Taxable
No Income Tax Deduction under Section 80C,80D if Return filed late?
Last updated at April 16, 2024 by Teachoo
Earlier
Education Cess was charged on Tax at 3%
Now
It will be charged at 4%
Name also changed to Education and Health Cess
|
FINANCIAL YEAR 2017-18
(AY 2018-19) |
FINANCIAL YEAR 2018-19
(AY 2019-20) |
| EDUCATION CESS | EDUCATION AND HEALTH CESS |
| 3% OF TAX | 4% OF TAX |
However, income Tax Slab Rate and Cess Remains the Same
