Income tax

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1) IN NEW TAX REGIME FOR FY 2020-21 WHETHER THE EXEMPTION U/S 80CCD 1(B) IS ALLOWED?

2) WHETHER EXEMPTION U/S 16 i.e. pROFESSIONAL tAX IS ALLOWED?

3) WHETHER EXEMPTION U/S 10 FOR EDUCATION ALLOWANCE IS ALLOWES?

4) THE TAX PAYERS WHO OPT FOR NEW SYSTEM OF INCOME TAX WHETHER THE TRESH HOLD LIMIT IS RS. 250000/- OR RS. 500000/- MEANS SECTION 87A WILL APPLY?

 

Replies (2)
1. NOT ALLOWED
2. Allowed
3. Not Allowed
4. 2,50,000
4.Threshold limit is 2.5lacs only both under old and new regime but you will get rebate u/s 87A for the income upto 5lacs...


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