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Minus Social Security : EET=Inequity

Hard Hit Small Salaried Deserve Lower Starting Tax Rates! Both Employment & Retirement Made More Taxing! Allowances & Perks – no longer exempt: House rent allowance (HRA), leave travel concession (LTC), medical reimbursement, value of free or concessional medical treatment and children’s education & hostel allowance. Puny deductions that will still continue: Professional tax paid, transport allowance to...

Roti, Kapda but No Makaan!

Analyzing Tax Gain & Pain In The New EET Regime Tax Incentives for Housing Scrapped: Current deductions in respect of interest & repayment of housing loan abolished under the new Code. Higher Deduction For Savings & Children’s Education: Individual & HUF entitled to an aggregate deduction of upto Rs.3 lakhs in respect of permitted savings & children’s tuition fees payment, as compared to current...

Tax Bombshell hangs on Insurance!

Code Has Not Visualized Many Dreadful Consequences! Many Insurance Products under Severe Tax Threat Any sum received under a life insurance policy including any bonus thereon will be exempt, only if the premium does not exceed 5% of the capital sum assured and such sum is received only upon completion of the original period of contract or upon the death of the insured. All existing ULIPs, Money Back &...

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