Income Tax news: In both, if your income is less than Rs 5 lakh per annum, then you will get a rebate of Rs 12,500
Tax savings: You can buy tax savings bonds from all public sector banks such as SBI, PNB, BoB and big private banks like HDFC Bank and ICICI Bank
The income tax department has updated its portal to capture the extended deadline of filing returns
Senior citizens also get higher tax benefits on expenses made on account of any medical treatment for specified diseases, etc
The CBDT has also decided to extend the due dates for electronic filing of forms related to intimation by pension funds and sovereign wealth funds
The new income tax website continues to show the old due date of 31st July 2021 instead of the extended deadline of September 30, 2021
The Income Tax Act of 1961 categorises five heads of income to ensure that these various revenues are covered
This year, some tax professionals apprehend, the dates have to be extended thanks to the glitches of the new revamped IT portal
Out of the total amount refunded, personal income tax comprised of Rs 13,341 crore and corporate tax refunds amounted to Rs 30,651 crore
On Tuesday and Wednesday that number had increased to 1.5 lakhs indicating an improvement in the portal's operation