The Budget 2020 has made the tax structure more complicated by adding three tax slabs. The removal of tax exemptions and deductions certainly makes compliance less tedious, but avid tax planners who maximised their tax deductions will probably pay more tax under the new tax regime. The budget has tried to put more money in […]
Six income tax slabs in, 70 exemptions out: Impact on taxpayers Read More »
Employees‘ contribution to EPF and ESIC deposited beyond the due date prescribed under section 36(1)(va) would not be eligible for deduction even if deposited before the due date of filing the return of income tax under section 139(1): Madras High Court short overview: Employees’ contribution to EPF and ESIC deposited beyond the due date prescribed under section 36(1)(va) would not be eligible for deduction even if deposited before the due date of filing the return of income tax under section 139(1). Therefore appeal of Revenue was allowed. Issue arose under consideration as to
