Highlights of Income tax rules for FY 2019-20 There is no change in income tax slab rate for financial year 2019-20 (AY 2020-21). The standard deduction of Rs. 40,000 has hiked up to Rs. 50,000 for salaried people and pensioners. Tax payers with taxable income up to 5,00,000 get...
Recently, the government (CBDT) notified the Income Tax Return Forms (ITR) for the financial year 2019-20 (A/Y 2020-21).Today i.e. on the 26th of June, 2020, th
To calculate your income tax liabilities as per old tax slab, you need to provide inputs such as your gross income, exemption amount. In addition to that, you need to provide information about the investment made by you under various sections. The sheet contains inputs for various sections s...
Also the biggest change in Budget 2020 regarding income tax wasintroduction ofnew tax slabsin case you do not want to take benefit of various tax deductions like standard deduction, Chapter VI A deductions, HRA benefit, LTA, home loan interest for self-occupied homes etc. continues. From last...
Salary Slab Rates (refer to income tax slabs) 192 Premature withdrawal from EPF 10% 192A Interest on securities (Government, Local Authority, Listed Debentures) 10% 193(a), (b), (c) Interest on other securities 10% 193(d) Dividend 10% 194 Interest (other than interest on securities) 10...