In FY 2020-21, the government has announced a package of Rs. 20 Lakhs crore in which TDS rates were revised and cut by 25%. For this, the effective dates were 14 May 2020 and it remained applicable till 31st March 2021.
In Budget 2021, FM Smt. Nirmala Sitharaman has left personal Income Tax Rates unchanged, however, it comes with some other changes in Income Tax that will help ease the compliance for taxpayers. Here are the Some Income Tax Changes From April
New form 26AS- From Assessment year 2021-22, the department has changed the format of form 26AS. Taxpayers will see improved form 26AS called Annual Information Statement, applicable from 01st June 2020. AIS is the new format as prescribed by the department,
Form 26AS is a Tax credit Statement, which shows details of tax deducted, tax collected, self-assessment tax paid, advance tax paid, income tax refund received, etc. Since the 1st June scope of form, 26AS has become wide and it now becomes
Bo the returns are annual returns for composition dealers. Due to recent changes in GST returns there is a lot of confusion among stakeholders, that whether we need to file both returns for the same year, and if yes then what