In an online chat with Rediff.com readers, G Srikanth, partner, GSV Associates, chartered accountants, Chennai and member of the Institute of Cost and Management Accountants, answered queries about the new income tax proposals mooted in the Union Budget 2020-2021.
No attention to detail seems to have been paid while introducing such a major provision and the wide arc of people it will take in its ambit, states Harsh Roongta.
A steady climb in volumes has helped the company double its market share in the segment to 5 per cent in the first six months of the financial year from the year-ago period and it has now set its sights on a 10 per cent share in the next two years.
The tax rate rises to 10 per cent, 15, per cent, 20 per cent and 25 per cent for every Rs 2.5 lakh addition. A 30 per cent tax is charged for income over Rs 15 lakh.
Under the FFS, concession is given to employees of the airline in which they can take their family to a domestic destination once a year at subsidised cost.
Tax Guru Anil Rego answers your personal income tax queries.
J&K Deputy Chief Minister Nirmal Singh on Thursday said that people are making a 'mountain out of a molehill' over the delay of the Air India flight.
Use deductions introduced in the Budget to save additional Rs 24,000 in tax
"As Civil Aviation minister, I apologise to all those affected (by these incidents)," Ashok Gajapathi Raju told a press conference in New Delhi on Thursday evening, in an attempt to end the controversy.
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