Highlights
New income tax rules from April 2021.
ITR filing FY 2020-2021.
New Delhi: From today (Thursday, April 1, 2021) several changes related to personal finance have kicked in. As we have entered into a new fiscal year (2021-22), new provisions regarding the income tax rules are going to govern us.
Most of this is because of the Union Budget 2021 announcement that has brought in several changes in matters of personal finance.
From April 1, these 5 new income tax rules have come into effect
Pre-filling of returns
Pre-filled returns are available on the Income Tax portal which had details like salary, TDS, tax payments etc. prefilled, in addition to the earlier details and to further ease the tax compliance FM announced that details like capital gains from listed securities, dividend income and interest from banks, post offices etc. will also be prefilled.