Top 5 announcements on EPF and income tax made by FM Nirmala Sitharaman

new-epf-announcement-nirmala

To deal with the COVID-19 pandemic Indian government has announced an Rs.20-lakh-crore economic stimulus package. This is designed after consulting with many stakeholders and is aimed to mitigate the impact of COVID-19 on the current economy of the nation. Top 5 announcements on EPF and income tax Taking ahead PM Modi’s vision of a “self-reliant India”, the honorable Finance Minister Nirmala Sitharaman made a series of important announcements with regards to personal finances measure to boost the economy. Here are the top five important announcements you should know: The deadline…

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5 changes in Income tax rules

New Income Tax rules

The new Financial Year 2020-21 (FY 2020-21) will see five changes in the Income-tax rules, which is in accordance with the budget presented this year. These changes were declared by the Finance Minister Nirmala Sitharaman. The Income Tax Department has given relief and extended the last day of filing the taxes to June 30th. This extension has come into effect due to the COVID-19 crisis, which has paralyzed the country and its financial machinery.  In FY 2020-21, the taxpayers can choose from any of the two income tax regimes declared…

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New Income Tax rules for FY 2020-21 wef April 2020

New Income Tax rules

On February 1st the Finance Minister Ms. Nirmala Sitharaman had introduced certain changes in Income Tax rules, which will come into effect from 1st April 2020. The new financial year has started from April 1st. In Financial Year 2020-21 taxpayers will have an option to choose from the two tax slabs declared by the Finance Minister. One may opt for the old tax slab or choose to switch to the new tax slab. The new tax regime appears to be heavily loaded for investors in higher tax brackets and may…

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