Archive | Union Budget 2015-16

A quick guide to Atal Pension Yojana

Budget 2015-16 focused heavily on ensuring that working Indians have a retirement plan and incentivized investments into pension schemes. First, there was the Rs. 50,000 additional tax benefit under Section 80CCD for contributions made to the National Pension Scheme. This benefit is for those who have already exhausted the Section 80C limit of Rs. 1,50,000. […]

Continue Reading

Transport Allowance doubled, also for the differently abled

Transport allowance is paid to an employee for the purpose of commuting between the place of residence and the place of office. In Budget 2015, the finance minister doubled the exemption on transport allowance. The amount of transport allowance which is exempt from tax has been doubled from Rs 800 per month to Rs 1600 […]

Continue Reading