Exemptions and deductions removed FY2020-21
This query is : Resolved
01 February 2020
HRA exemption, life insurance premium, LTA, Employee contribution to PF, voluntary PF, NPS, PPF whether these are removed or retained
02 February 2020
All these deductions come under chapter via of income tax, hra investments under 80c , and even LTA have been removed
03 February 2020
Employer's contribution to PF is added to taxable, what is the exemption limit of PF salary in this case?
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03 February 2020
Employers contribution to pf is exempt from tax to the extent of 12% of salary
03 February 2020
NPS also removed? it is retained right, for deduction.
04 February 2020
Removed is not a correct term. as removed may also refer to these sections being taken away from statute book. It is not like that, only thing is that one has to forgo these and several other exemptions and deductions if one has to opt for alternative slab of tax rate.
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