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The 5th change in the law of Income Tax will be from September 1, know what will happen?
The income tax-related changes in the budget are generally applicable from April 1. It is connected to TDS, PAN card and Aadhar card
1. TDS on home purchase
From the 1st of September, TDS has to be provided on the facility like car parking rate, electricity bill, water facility bill, before this, there was no TDS deduction for these services.
1. TDS on home purchase
From the 1st of September, TDS has to be provided on the facility like car parking rate, electricity bill, water facility bill, before this, there was no TDS deduction for these services.
2. TDS on cash withdrawal from bank account
If a person withdraws more than 1 crore from the bank, post office or co-operative bank in the same financial year, deducts 2% TDS on it, the government has taken this step to increase the caseload economy.
3 .Company
If your Aadhar card and PAN card are not linked then the Income Tax department will now give you a new PAN card.
4. Will also keep an eye on the transaction
Until now, the bank had informed the Income Tax Department of transactions of more than 50 thousand rupees, but the rules would be changed from September 1. Banks may now be asked to provide a small transaction information to verify your tax return.
5. Ticket booking at IRCTC
Service charges will now be paid on booking of tickets through the portal of Indian Railway Catering and Tourism Corporation.
INCOME TAX RELETED NEWS
Today's news report regarding the change in law of Income Tax has been in place since September 1
Click here to view