Sentences with phrase «additional deduction which»

The second type of deduction is additional deduction which is the premium paid for your parents, that also amounts to Rs. 15,000 / - till now and post this year will go up to Rs. 25,000 / -.

Not exact matches

And the aged and the elderly will lose their additional standard deduction, which under current law offers them up to $ 5,000 in additional deductions.

Note that there is an additional standard deduction for elderly or blind taxpayers, which is $ 1,250 for tax year 2017.

The valuable personal exemption, which was essentially an additional $ 4,050 deduction for every taxpayer and dependent, is going away, which could actually translate to less of a total deduction for taxpayers with several dependents.

The rate of the above the line tax credit, which was introduced in 2013 to encourage large companies to engage in R&D, is to increase from 10 % to 11 %, and the rate of the additional deduction for small and medium - sized companies will increase from 125 % to 130 %.

The Journal Times reports that on Tuesday, Mason, along with state Sen. Dave Hansen, introduced the «Higher Ed, Lower Debt» bill in Madison, which would create a state authority to help borrowers refinance their student loans at lower interest rates, extend an existing state tax deduction to include student loan payments, and provide additional information and loan counseling to borrowers.

The valuable personal exemption, which was essentially an additional $ 4,050 deduction for every taxpayer and dependent, is going away, which could actually translate to less of a total deduction for taxpayers with several dependents.

Jerry's income would rise to $ 301,000, which would cause him to be $ 42,750 over the line, increasing his phaseout of itemized deductions to $ 1,282.50 (an increase of $ 1,000 of income x 3 % phaseout rate = $ 30 of additional phaseout).

For a small additional premium, you can choose to carry full value coverage on your personal property, which ensures that you will be paid the full replacement cost of items that are damaged or stolen without deduction for depreciation.

In case your parent is a senior citizen (above the age of 60 years), you can claim an additional deduction up to Rs. 50,000, which sums up as a total exemption of Rs. 75,000.

An additional INR 20,000 deduction, which is INR 30,000 w.e.f. assessment year 2016 - 17, may be availed in case of senior citizens.