Finance Minister Nirmala Sitharaman said she is “open” to revising the Rs 2.5 lakh annual tax-free deposit cap on Employees’ Provident Fund (EPF) savings announced in the Union Budget 2021. In her Budget speech on February 1, Sitharaman announced that depositors investing more than Rs 2.5 lakh in EPF in a year would have the interest liable […]
Finance minister Nirmala Sitharaman provided a major boost to healthcare and infrastructure in Union Budget 2021. However, there was no change in Income Tax slabs this year. The Union Budget 2021-22 was presented by the Hon’ble Finance Minister Nirmala Sitharaman on 1st February 2021 in the Parliament. The Budget speech was given by the FM […]
ITR-1 Sahaj, ITR-4 Sugam for AY 2020-21 notified: What has changed in ITR forms? TR-1 Sahaj is used to file returns by ordinary resident individuals whose total income does not exceed Rs 50 lakh. Form ITR-4 Sugam is meant for resident individuals, HUFs and firms except LLPs with a total income of up to Rs […]