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Showing posts with label Automated Income Tax Revised Form 16 Part A and B for F.Y.2020-21. Show all posts
Showing posts with label Automated Income Tax Revised Form 16 Part A and B for F.Y.2020-21. Show all posts

Thursday, 27 August 2020


Recent budget proposed a decreased pace of tax for the individuals and HUF's under Section 115BAC. Under this Section, an alternative has been given to individuals and HUF to pay tax at lower rates, subject to satisfaction of certain conditions. One of the conditions is that individual settling on the diminished pace of tax won't be qualified to guarantee certain exclusions and deductions. Rundown of such exclusion and the deduction that won't be accessible are as under: