Union Budget 2003 - A Synopsis
Mondaq Business Briefing › India Law Articles in English (2003)
Linked as:
Extract
Union Budget 2003 - A Synopsis
Income Tax Proposals
Salaries:For salary income upto Rs: 5 lacs, standard deduction will 40% or Rs: 30,000 whichever is lower. For salary income above Rs: 5 lacs, standard deduction will Rs: 20,000. VRS payments upto Rs: 5 lacs will be exempt from tax even if such a payment is made in instalments. This provision will be effective from 1st April 2004 and available for A.Y: 2004 - 05 onwards.Income...See the full content of this document
Sponsored links
