Income Tax Deduction for NPS Subscribers
As per the Income Tax Rules, the following Tax Deductions are allowed to all the central government employees in NPS
INCOME TAX NEWS
Latest Income tax news regarding Income Tax Rates, Income Tax Exemptions and ITR filing Last date
Income Tax Return, Deduction, Limit in Budget 2022-23
Regarding Income Tax Return, Deduction, Limit in Union Budget 2022-23
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CBDT : Guidelines under clause (10D) section 10 of the Income-tax Act, 1961
Clause (10D) of section 10 of the Income-tax Act, 1961 (the Act) provides for income-tax exemption on the sum received under a life insurance policy, including any sum allocated by way of bonus on such policy subject to certain exclusions.
CBDT : Guidelines under clause (10D) section 10 of the Income-tax Act, 1961 Read More »
Finmin: Extension of timelines for filing of Income-tax returns for the Year 2021-22
Timelines for filing of Income-tax returns : Extending Timeline for filing of Income Tax Returns for the Assessment Year 2021-22 Circular No. 01/2022 F. No. 225/49/2021/ITA-IIGovernment of IndiaMinistry of FinanceDepartment
Finmin: Extension of timelines for filing of Income-tax returns for the Year 2021-22 Read More »
Due date of furnishing of Return of Income is further extended to 15th March 2022
The due date of furnishing of Return of Income for the Assessment Year 2021-22, which was 30th November 2021 under sub-section (1) of section 139 of the Act, is hereby further extended to 15th March, 2022
Due date of furnishing of Return of Income is further extended to 15th March 2022 Read More »
One-time relaxation for verification of income tax-returns e-filed for the Assessment Year 2020-21
It has been decided by the Board to provide one-time relaxation for submission of ITR-V/e-Verification for resolving the grievances of the taxpayers associated with non-verification of ITRs for the Assessment Year 2020-21
Income Tax Exemption for COVID-19 Treatment
The Central Government has decided to provide income-tax exemption to the amount received by a taxpayer for medical treatment from an employer or from any person for treatment of COVID-19 during financial year 2019-20 and subsequent years.
Extension of time limits to provide relief to taxpayers
The Central Board of Direct Taxes, in exercise of its power under section 119 of the Income-tax Act, 1961 provides relaxation in respect of the following compliances o provide relief to taxpayers in view of the severe pandemic
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Extension of time limits for Income Tax Returns to 10th January 2021
The Department of Revenue, Ministry of Finance has extended the last date to file income tax return (ITR) for FY 2019-20 for individuals from the current deadline of December 31, 2020, to January 10, 202
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Income Tax 2020-21 Deduction from salaries Circular No.20/2020
The rates of deduction of income-tax from the payment of income under the head “Salaries” under Section 192 of the Income-tax Act. 1961 during the financial year 2019-20
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Due date of furnishing of Income Tax Returns for the FY 2019-20 extended
Extension of due date of furnishing of Income Tax Returns and Audit Reports
Due date of furnishing of Income Tax Returns for the FY 2019-20 extended Read More »