Taxpayers should note that the NPS-related deduction under Section 80CCD (2) of the Income-tax Act, 1961, is the only exemption allowed under both tax regimes.
Budget 2024: Govt Weighs Revision Of Tax Exemptions For Lower Bracket In Old Tax Regime, Says Report outlookindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from outlookindia.com Daily Mail and Mail on Sunday newspapers.
The Centre may make an official announcement to include NPS benefits in the new tax structure, which is expected to be declared at the Interim Budget 2024 scheduled on February 1, news reports said.
The last date to file the ITR for FY 2023-24 without a late fee is July 31, 2024. The return you will file in 2024 is for the income you earned in the period between April 1, 2023, and March 31, 2024.