list of benefits available to salaried persons – ay 2020-21 – incometaxindia S. N. Section Particulars Benefits A. Allowances 1. 10(13A) House Rent Allowance (Sec. 10(13A) & Rule 2A) Least of the following is exempt:a) Actual HRA Receivedb) 40% of Salary (50%, if house situated in Mumbai, Calcutta, Delhi or Madras)c) Rent paid minus 10% of salary* … Read more
Deduction in respect of interest on deposits in savings account. 80TTA. (1) Where the gross total income of an assessee 94[(other than the assessee referred to in section 80TTB)], being an individual or a Hindu undivided family, includes any income by way of interest on deposits (not being time deposits) in a savings account with— … Read more
Deduction of income-tax at source for the financial year 2019-2020 MINISTRY OF DEFENCE Office of the JS & CAO Deduction of income-tax at source for the financial year 2019-2020 1. As per the Govt. orders, the recovery of tax, as due, from the Pay and Allowances of the employees is required to be ensured … Read more
CBDT – Amend the Income-tax Rules, 1962(PAN, Aadhar) in IT rules 114 w.e.f. 01.09.2019 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 30th August, 2019 G.S.R. 614(E).– In exercise of the powers conferred by section 139A read with section 295 of the Income-tax Act, 1961 (43 of 1961), … Read more
Exemption of “disability clement” & “service clement” of a disabled officer of the Indian Armed Forces – CBDT CIRCULAR No. 13/2019 F.No.173/250/2019-ITA I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi the 24th June, 2019 Subject: Exemption of service element and disability element of disability … Read more