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On 5th August 2021, The Taxation Laws (Amendment) Bill, 2021 proposed to remove the provisions of retrospective effect of tax completely. This step had resolved the problem of 17 industries.
While the filing of ITR has several advantages but committing minor mistakes may sometimes attract huge penalties therefore one should be cautious while filing his own ITR.
As per Section 139AA of the Income Tax Act, every person who has PAN as on July 1, 2017, is required to link their PAN with their Aadhaar number within the due date notified by the government.
This allowance is provided by the employer to cover the travel expenses of the employee when he is gone for a holiday trip. Leave Travel Concession is another name of LTA.
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