Taxation

5 New Income Tax Rules That Will Come Into Effect From 1 April

Union Finance Minister Nirmala Sitharaman presenting Union Budget 2021, had announced a slew of changes in the income tax rules. These changes are set to come into effect from 1 April 2021. According to the new rules, senior citizens of the age 75 and above with income from pension and interest from fixed deposit in the same bank would be exempted from filing ITR from April 1.

Source- Live Mint

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