In pictures: All updates on Income Tax deadlines, exemptions, GST fine

The Central Board of Direct Taxes (CBDT) has now amended Earnings Tax guidelines to prescribe sure exemptions which will be availed by the staff. These embrace any allowance granted to satisfy the price of journey on tour or on switch, any allowance, whether or not, granted on tour or for the interval of journey in reference to switch, to satisfy the extraordinary every day expenses incurred by an worker on account of absence from his regular place of obligation.It additionally consists of exemption for any allowance granted to satisfy the expenditure incurred on conveyance in efficiency of duties of an workplace or employment of revenue, offered that free conveyance will not be offered by the employer. Moreover, in a giant tax aid for Delhi’s unauthorised colonies that have been regularised final 12 months, the federal government has exempted homeowners from revenue tax even when they’d bought land or home at charges beneath the prevailing market value.

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