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Although the new income-tax regime has been made the default regime, you could still switch back to the old regime if you claim deductions and loan exemptions. But make sure you fill this form by July 31.
The method used to compute tax on income of taxpayers with agri income has been included in Finance Bill 2024.
The Pension Fund Regulatory and Development Authority (PFRDA) has introduced the default scheme option in NPS tier II accounts the government employees. Till now, the default scheme was available only to NPS Tier I account subscribers. So those government sector NPS subscribers who chose to invest in NPS tier II accounts, had to pick their pension fund managers (PFM) and percentage in which the selected PFM will invest the fund. Now, the government sector NPS subscribers can also select the the default scheme option in NPS tier II. This scheme is designed to offer flexibility and convenience ...
Auditors seem to have developed a heightened sense of risk and are not content to tick the boxes and sign the papers.
Effective July 1, they are mandatory for ICAI members