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View Full Version : budget & finance bill differs on IT exemption



nsdev007
13-07-2014, 11:40 AM
(I) In the case of every individual other than the individual referred to in items (II) and (III) of this Paragraph or Hindu undivided
family or association of persons or body of individuals, whether incorporated or not, or every artificial juridical person referred to in
sub-clause (vii) of clause (31) of section 2 of the Income-tax Act, not being a case to which any other Paragraph of this Part
applies,
Rates of income-tax
(1) where the total income does not exceed Rs. 2,00,000
(2) where the total income exceeds Rs. 2,00,000 but does not
exceed Rs. 5,00,000
(3) where the total income exceeds Rs. 5,00,000 but does not
exceed Rs. 10,00,000
(4) where the total income exceeds Rs. 10,00,000
Nil;
10 per cent. of the amount by which the total income
exceeds Rs. 2,00,000;
Rs. 30,000 plus 20 per cent. of the amount by which
the total income exceeds Rs. 5,00,000;
Rs. 1,30,000 plus 30 per cent. of the amount by which
the total income exceeds Rs. 10,00,000.

nsdev007
13-07-2014, 11:42 AM
budget announcement was 250000. finance bill shows 200000.http://indiabudget.nic.in/ub2014-15/fb/bill1.pdf