Without making any changes to the personal income tax slab, the Union Budget 2021- 22 has provided relief to senior citizens in the filing of I-T returns; reduced the time limit for I-T proceedings; announced the setting-up of a Dispute Resolution Committee and faceless Income Tax Appellate Tribunal proceedings; provided relaxations for Non-Resident Indians ; offered an increase in the …
The current government is set to complete its five-year term in May, and so it presented an interim budget on 1 February rather than a full budget. Increase in tax rebate Rebate of income tax up to `2,500 is currently available to individual taxpayers with total taxable income up to `3,50,000. Resultantly, there will be nil tax liability for a …