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Press Releases

You may have to claim refund for FY2019-20 tax saving done after March 31

The government has extended various tax-related deadlines for the financial year 2019-20 to June 30, 2020 (from March 31, 2020). These include the deadline for completing one's tax-saving exercise.

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Post tax, Rs 5 lakh income will be higher than Rs 5.16 lakh: Here's why

For the financial year 2019-20, if a person's net taxable income (i.e., income after subtracting all the deductions and tax-exemptions the person is eligible for) does not exceed Rs 5 lakh

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Govt needs to clarify how TDS from salary will work in new income tax regime: Experts

Budget 2020 has proposed a new lower income tax rate regime which is optional in nature. The option of lower income tax rates (sans tax-exemptions and deductions) under the new tax regime can be exercised by an individual at the time of filing of income tax return (ITR) as per the Finance Bill, 2020.

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Can you choose between existing income tax regime and new optional regime every year

Can you choose between existing income tax regime and new optional regime every year? Comments by Naveen Wadhwa

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Tax rates for Assessment Year 2021-22

Tax rates for Assessment Year 2021 - 22 with updated Taxmann Tax Calculator updated as per Finance Bill, 2020

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Task Force Recommendations for Income tax Act, Budget 2020

Tax Force has submitted their recommendations for Income tax Act and some have been already implemented few which are yet to be introduce include No more distributed divided tax, Tax Immunity Scheme

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ITR filing: 6 key changes in ITR-1 you need to know

Effectively, the government will now be able to link the passport number and PAN of all those filing ITR 1 for current financial year.

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PAN-Aadhaar linking: What will happen if PAN is not linked with Aadhaar by December 31?

Though the rules related to PAN-Aadhaar linking came into effect from September 1, 2019, the government is yet to clarify the meaning of word inoperative and whether it will allow the individual to re-activate his/her PAN if not linked with Aadhaar by December 31 deadline.

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PPF scheme 2019: Loan against PPF account at 1% and other changes you need to know

As per the new scheme, the interest rate on the loan taken from PPF account will now be charged at one per cent instead of two per cent earlier.

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13 big tax changes that happened in 2019 and its impact on your personal finances

A lot of big things happened on the personal taxation front in 2019. These changes will help salaried people and pensioners save more tax. At the same time, we saw the uber rich tax a big hit on the taxation front. Here are 13 big tax changes that happened in the year 2019.

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