Tax Exemptions

Govt will impose limits on tax exemption for political parties, says Arun Jaitley

The central government plans to set a threshold criteria for political parties to enjoy tax exemptions to check money laundering by outfits that do not contest elections, Finance Minister Arun Jaitley said

Niti Aayog expected to recommend tax exemption for digital payments

According to a report in Bloomberg, the panel is suggesting that Indian citizens should be offered tax exemptions if they are making payments through digital modes. It has also recommended that there should be a penalty for cash transactions. This is to ensure that more individuals opt for electronic payments over cash transactions.

FM wary of high tax exemptions: No perks for salaried class this Budget?

Prime Minister Narendra Modi-led NDA government's maiden Budget is unlikely to offer perks for the salaried class as finance minister Arun Jaitley has limited room for big bold moves this year. According to CNBC-TV18, Jaitley may not announce any major tax exemptions for professionals due to lack of fiscal space.<br />

Personal tax: How much you will save post Jaitley's tax proposals in Budget 2014

Finance Minister Arun Jaitley has provided some relief to the individual tax payer who has been bearing the brunt of high inflation in the economy.<br />

Blame the govt: One third of your home purchase cost is just taxes

According to a KPMG report titled 'Housing for all by 2022," over one-third of all home costs comprises various taxes.