The main aspects which differentiate between old Income Tax Slabs 2019-20 from new IT Slabs 2020-21 is given below It is optional for any individual to choose either New Income Tax Slab 2020-21 or Old Income Tax Slab 2019-20. Income Tax Slabs … [Read more...]
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INCOME TAX NEWS
Information about Income tax , Income Tax Rates For Assessment Year 2015-16, Income Tax Exemptions
Personal Income Tax Slab for FY 2020 21
This Personal Income Tax Slab for FY 2020 21 paves the way for significant relief, especially for Middle Class Taxpayers The Official press release published in PIB is given below New Personal Income Tax Regime to be optional for the … [Read more...]
Due date for filing Income Tax Returns is 31st August 2019
CBDT extends the ‘due-date’ for filing income-tax returns from 31st July, 2019 to 31st August, 2019 F. No. 225/157/2019/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North-Block, ITA-II … [Read more...]
Revised Form 16 for Financial Year 2018-19
Revised Form 16 for Financial Year 2018-19 The Central Board of Direct Taxes has notified changes to Form 16 for the financial year 2018-19. Under the new format of Form 16, Part B will contain information about the exempt allowances under … [Read more...]
Quoting Aadhaar in Income return – CBDT Order dt 31st march 2019
Quoting Aadhaar in Income return - CBDT Order dt 31st march 2019 CBDT issued an order on 31st march 2019 for Giving effect to the Judgement(s)/Order(s) of Hon’ble Supreme Court on Quoting Aadhaar in Income return Circular No.6/2019 Government … [Read more...]
Aadhaar PAN Linking last date 30th September 2019
Aadhaar PAN Linking last date 30th September 2019 Central Board of Direct Taxes has extended the last date for linking of Aadhaar with PAN to 30th September 2019. The Notification is reproduced below Government of India Ministry of … [Read more...]
Income Tax Slab 2019 is not changed for Taxable Income above Rs.5 lakh
Income Tax Slab 2019 is not changed for Taxable Income above Rs.5 lakh Yesterday the budget 2019 was presented in the Parliament and everybody expected some announcement would be made on Income Tax Slab for 2019-2020 As expected, the FM … [Read more...]
Income Tax Exemption limit increased to Rs.5 Lakh in Budget 2019
Income Tax Exemption limit increased to Rs.5 Lakh in Budget 2019 Individual taxpayers having taxable annual income up to Rs.5 lakhs will not be required to pay any income tax . Persons having gross income up to Rs. 6.50 lakhs are not … [Read more...]
Income Tax Deduction from Salaries during Financial Year 2018-19
Income Tax Deduction from Salaries during Financial Year 2018-19 CIRCULAR NO : 01 /2019 F.No. 275/192/2018-IT(B) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New DelhiDated the 1st … [Read more...]
Pension and family Pension to be spared from levy of Income Tax
Pension and family Pension to be spared from levy of Income Tax BPS has requested the FM to reconsider & accept the recommendation of Vth CPC vide their 167.11 in this regard and spare the pension/family pension along with DR & FMA from the … [Read more...]