Budget 2022 hikes tax exemption on employer’s NPS contribution for state govt staff to 14% from 10%
This query is : Resolved
10 February 2022
Sir
As per Budget 2022 hikes tax exemption on employer’s NPS contribution for state govt staff to 14% from 10%.
I want to ask you, above effect is applicable retrospectively from F Y 2020-2021 ?
Sir please clarify
As per Budget 2022 hikes tax exemption on employer’s NPS contribution for state govt staff to 14% from 10%.
I want to ask you, above effect is applicable retrospectively from F Y 2020-2021 ?
Sir please clarify
10 February 2022
Yes, it is proposed to be amended retrospective from AY 2020-21...
"The deduction for the state government employees u/s 80CCD would now be at par with central government employees. It is pertinent to note that once the Budget 2022 is ratified into an Act, the said amendment would apply retrospectively from 1st April, 2020 and will accordingly apply in relation to the assessment year 2020-21 and subsequent assessment years."
"The deduction for the state government employees u/s 80CCD would now be at par with central government employees. It is pertinent to note that once the Budget 2022 is ratified into an Act, the said amendment would apply retrospectively from 1st April, 2020 and will accordingly apply in relation to the assessment year 2020-21 and subsequent assessment years."
12 February 2022
Most Welcome ....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Liable to deduct tds and 44ADA
- TDS Challan Code
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Refund of 20%pre-deposit paid for stay application
- Rent lease agreement
- If there is Long term capital gain exists how much total income to be considered
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
