Takkaru Takkaru's video: Union Budget 2021:

Union Budget 2021:மாத சம்பளக்காரர்கள் கட்டாயம் தெரிந்துகொள்ள வேண்டிய பட்ஜெட் மாற்றங்கள் Interest on employee’s share of contribution to EPF on or after April 1, 2021 will be taxable at the stage of withdrawal if it exceeds Rs 2.5 lakh in any year. This will lead to additional tax liability, especially for HNIs, who make higher contributions, and will also discourage voluntary EPF contributions. Coupled with taxation of aggregate employer’s contributions in excess of Rs 7.5 lakh to EPF, NPS and superannuation fund and interest thereon introduced last year, this may make EPF an even less attractive retirement scheme. Time limit for filing delayed (belated) / revised income-tax return is reduced by 3 months: last date to file income-tax return now stands at December 31 after the close of tax year. Similarly, timeline for completion of assessment has been reduced by 3 months. While this will reduce the overall tax compliance timelines, it may create practical difficulties for taxpayers with overseas income in claiming tax exemption or relief where such benefit is dependent on tax filing in the other country. Taxpayers will not be required to estimate their dividend income while making advance tax payments. Advance tax will now be payable only when dividend is declared or paid by the company. This will save payment of interest by taxpayer due to underestimation while paying advance taxes. Latest tamil news, Latest sports news, latest film reviews