Income Tax Slabs

Income tax slabs is a term used in India to indicate a market segment where investment or participation in results in higher opportunities and success in securing rebates, special tax incentives and fluctuating tax rates. In a nutshell, tax benefits.

These market segments can include but are not limited to long term savings accounts, infrastructure bonds, medical insurance, tax write-offs on interest payments on loans/charity, approved pension funds, Senior citizen savings accounts, mortgages, life insurance, government 401k type pension funds, government bonds, medical expenses, donations to various charities and funds, and tax breaks on income paid on rent for non-home owners.

Announcements of new or modification to existing income tax slabs attracts a lot of interest amongst the Indian public.  Although some policies have been liked more than others, the overall intent of the income tax slabs is to help and improve the economy. Tax Slab changes are usually announced every year by the government.

Criteria for the modification or implementation of tax slabs takes place before the beginning of the fiscal year the slab will take effect allowing the public to plan accordingly. No matter how great the incentive is, you cannot take advantage of income tax slabs unless you have a PAN card.

You can apply for a PAN card online and once the application is submitted check your NSDL PAN Card Status to ensure hassle-free processing of your application. In addition, once you have your PAN Card, you can utilize the PAN Card Verification tool on the website.

The Pan Card Verification will allow you to verify your PAN data or number. As well authorized institutions can utilize a paid verification process to validate PAN holder’s confidential information. No matter how much of a cumbersome process the PAN card acquisition task is, it’s still worth it in order to benefit from Income Tax Slabs.

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