The income tax return (ITR) forms has been released by the Central Board of Direct Taxes (CBDT). Though there are no major changes in the ITR forms this year, however, certain small changes have been made to incorporate the changes made in the income tax laws in the Budget 2022. Read on to know more about these changes.
So far, the tax exemption on leave encashment for non-government employees was Rs 3 lakh which was fixed in 2002, when the highest basic pay in the government was Rs 30,000 per month.