Stay updated with breaking news from பயணம் சலுகை. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
New income tax rules from April 1: Key things to know Top Searches New income tax rules from April 1: Key things to know TIMESOFINDIA.COM / Apr 1, 2021, 10:02 IST FacebookTwitterLinkedinEMail NEW DELHI: Union finance minister Nirmala Sitharaman announced a slew of changes in her Union Budget 2021 presentation. The changes will come into effect from April 1, 2021. Here s a look at the changes announced in budget: Choose between New tax regime and Old tax regime: The government had implemented the new tax regime last year in budget 2020. The process exercise of choosing one of the tax regimes for the financial year 2020-21 (FY21) will be required to be made starting from April 1, 2021. Taxpayers will be able to opt for a beneficial regime at the time of filing their tax returns for FY21. ....
Updated Mar 17, 2021 | 08:23 IST Senior citizens of the age 75 and above with income from pension and interest from fixed deposit in the same bank would be exempted from filing ITR from April 1, according to the new rules. 5 new income tax rules set to come in force from April 1 New Delhi: Budget 2021 has left personal income tax rates unchanged. However, FM Sitharaman announced some tweaks in income tax rules that will help ease the compliance for taxpayers. Let s take a look at 5 income tax changes that will come into effect from 1 April: Provident fund tax rules: Nirmala Sitharaman has announced in the Union Budget 2021-22 that PF contributions over Rs 2.5 lakh in a financial year will be taxable from the next financial year. ....
: 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. ....