80GG Deduction of the income tax act is one of the tax deductions you can claim for the rent paid by you. In this article, we shall see the eligibility criteria to claim Deduction under section 80GG, the maximum limit allowed and how to claim.
Income Tax
New Form 26AS released by Income Tax Department (Updated June 2020)
New Form 26 AS released by Income Tax Department is an Annual Information Statement. The Central Board of Direct Taxes amends the Income-tax Rules, 1962. The New Form 26AS will come into effect from 1st June 2020.
ITR V Verification | CBDT One Time Relaxation
CBDT provides one-time relaxation for electronically filed ITR V verification. It is applicable for the IT Returns filed for Assessment Yrs 2015-16 to 2019-20, which are pending due to non-filing of ITR-V form & processing of such returns. CBDT issues Circular No.13/2020 on 13th July 2020 in this regard.
PAN Card- Apply, Track, Download, Link with Aadhaar
PAN Card is a valid identity proof that is necessary for all financial transactions. Moreover, it is mandatory if you desire to file your income tax return. You can apply for PAN card either online or offline. This article will see in detail the step by step procedure to apply for PAN Card online through NSDL and UTIITSL.
Income Tax Slab for AY 2021-22 | All That You Need to Know
The income tax slab for AY 2021-22 below applies to individuals (resident or non-resident), HUF, Association of Person or Body of Individual, companies, partnership firms and companies. The income tax rate depends on the income slab that your income falls under and whether you opt for New or Old tax regime.
We have provided the tax slabs under the existing tax regime and the new tax regime to help you choose a suitable tax regime. Also, you may use the income tax calculator to find out your total tax liability.