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: Wednesday, March 17, 2021, 4:14 PM IST From April 1, new Income Taxes rules will be introduced: Find out if those rules are applicable to you During the budget 2021, Finance Minister Nirmala Sitharaman announced some changes in the income tax rules. It will come into force from April 1. These rules are related to Provident Fund, Tax Deducted at Source, ITR filing for senior citizens, Leave Travel Concession among others. Rules are given below: Provident Fund: Individuals earning more than Rs 2.5 lakh will have to pay taxes on the interest on annual employee contributions to provident fund. The government with this decision is aiming to tax high-value depositors in the Employee Provident Fund (EPF). ....
Synopsis While various economic packages and reforms announced by the government in 2020 have no doubt kept the economy afloat, Budget 2021 is also being looked upon as a watershed event which is expected to lift and give an impetus to the economy. Here are 7 expectations of a common man from Budget 2021. Getty Images Budget 2021 should introduce measures which would provide certain tax benefits for employees on work from home allowances. The year 2021 is being looked upon as a year of hope - hope for good health, hope for a life free of restrictions, hope for buoyancy in economy. On the economic front, stock markets are also achieving new heights with the expectation of the economy improving and a taxpayer-friendly Budget along with the introduction of two vaccines for Covid-19. ....