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As On 19-Aug-2022 EOD, Market Closed
SENSEX
59,646.15
-651.85 (-1.08%)
NIFTY
17,758.45
-198.05 (-1.10%)
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  • Personal Income tax Exemption Limit And Slab Rates Need To Be Reviewed Says Direct Taxes Professionals Association

    The Direct Taxes Professionals Association has noted in its Pre Budget Memorandum for 2022-23 that the government should allow benefit of section 80D for medical insurance premium to help taxpayers to keep their medical policies alive in view of exorbitant expenses for hospitalisation & treatment even in case of taxpayers opting for sec. 115BAC. Benefit of tax rebate u/s 87A should be allowed in case of taxpayers opting for sec. 115BAC. The TDS from Salary u/s 192 may be deducted based on tax liability in case of taxpayers opting for sec. 115BAC. It also noted that Personal Income tax Exemption Limit and Slab Rates needs to be reviewed. It will be appropriated if exemption limit is across the board fixed at Rs. 4 Lakhs and Tax Rate for the Slab Rs. 5 Lakhs to 10 Lakhs is considered and fixed at 10%%; next slab may be Rs. 10 Lakhs to 20 Lakhs with tax rate of 15% and on income in excess of Rs.20 Lakhs tax may be charged at 25%. Such a tax regime will help in developing tax culture and true disclosure of income by all.



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Flash News 19-Aug-2022
  •  ( 14:43) Realty stocks edge lower  
  •  ( 14:43) Barometers trade with deep cuts  
  •  ( 10:52) ICRA upgrades credit rating of Greenpanel Industries  
  •  ( 09:23) Wipro bags multi year contract from HM Treasury  
  •  ( 08:48) Asian stocks trading mixed  
  •  ( 08:01) Metropolis Healthcare relieves CEO Vijender Singh  
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19 August 2022 00:00
3482.30
(-1.51 %)
758.90
(-0.79 %)
7301.20
(-2.53 %)
16292.85
(-3.08 %)
732.35
(-0.12 %)
4199.95
(-0.61 %)
2466.55
(-1.23 %)
969.45
(-0.45 %)
1493.45
(-1.19 %)
2634.05
(-1.75 %)
870.35
(-1.66 %)
1062.85
(-3.82 %)
1597.40
(0.93 %)
312.20
(-1.03 %)
1877.35
(-1.40 %)
1935.85
(2.20 %)
1239.15
(-1.75 %)
8777.50
(-1.81 %)
19438.00
(-0.66 %)
157.70
(-1.90 %)
228.05
(-1.36 %)
2613.60
(-1.77 %)
520.40
(-2.25 %)
900.30
(-1.69 %)
110.00
(-2.27 %)
3385.25
(0.12 %)
1103.60
(-0.15 %)
2439.65
(-1.55 %)
6644.85
(-0.86 %)
432.80
(-0.51 %)
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