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TDS on FDs | How you should show bank FD interest in your ITR to avoid tax department notice timesnownews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timesnownews.com Daily Mail and Mail on Sunday newspapers.
Updated Mar 11, 2021 | 07:01 IST The tax benefit on LTA can be claimed on two journeys in a block of four years. The current block is 2018-21 Carry forward LTA or opt for cash voucher scheme: Know which is more beneficial New Delhi: Due to COVID-19, employees have been avoiding travel and hence been unable to avail the benefit of LTC in the current block of 2018-21. Therefore, the government came out with the leave travel concession (LTC) cash voucher scheme in October last year in order to allow people to claim tax benefits they otherwise would not have been able to claim due to travel restrictions. Under this scheme, employees can claim tax deduction on LTC by spending the money on buying goods and services instead of submitting travel bills. The scheme was initially launched for government sector employees, but was later extended to non-government employees as well. ....
Updated Feb 27, 2021 | 14:01 IST While no details have been shared as to how TDS will be applied, calculations show that if an individual s annual basic salary is close to Rs 21 lakh or more, they will come under the EPF tax net. EPF interest taxation: Here s how TDS will be calculated on interest earned on contribution beyond Rs 2.5 lakh New Delhi: Budget 2021 left some taxpayers unsatisfied as there were no rate cuts or standard deduction limit hike. This Budget has left income-tax rates and slabs unchanged. While the Finance Minister did not announce any hike in super-rich surcharge, she found a way to tax the rich and super-rich by taxing the interest earned on Employee’s Provident Fund (EPF) contributions in excess of Rs 2.5 lakh in a financial year. ....
PF contribution | Tax on PF contribution: What are the other investment options? timesnownews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timesnownews.com Daily Mail and Mail on Sunday newspapers.
Updated Feb 20, 2021 | 15:25 IST Starting July 1, 2021, the penal TDS and TCS rates are 10-20 per cent, as against 5-10 percent normally Uncertainties around how Budget 2021 TDS rules will be implemented New Delhi: Budget 2021 has laid out stringent norms for those not filing tax returns. So, if you have not been filing your income tax returns, you have to pay a higher tax deducted at source (TDS). Even the Tax collected at Source (TCS) will increase for those who do not file their income tax returns. Starting July 1, 2021, the penal TDS and TCS rates are 10-20 per cent, as against 5-10 percent normally. ....