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The Employees' Provident Fund Organisation (EPFO) holds a pivotal role in India's social security system, dedicated to ensuring the financial security of employees. Operating under the jurisdiction of the Government of India's Ministry of Labour and Employment, the EPFO is entrusted with the regulation and oversight of provident funds in the ...
The Public Provident Fund (PPF) is a voluntary savings-tax-reduction social security instrument in India, [1] introduced by the National Savings Institute of the Ministry of Finance in 1968. The scheme's main objective is to mobilize small savings for social security during uncertain times by offering an investment with reasonable returns ...
Profession tax is the tax levied and collected by the state governments in India. It is a direct tax. It is a direct tax. A person earning an income from salary or anyone practicing a profession such as chartered accountant, company secretary, cost accountant, Software Engineer, lawyer, doctor etc. are required to pay this professional tax.
A belated return, under §139(4), may be filed before the end of the assessment year. A revised return, under §139(5), may be filed for a normal or belated return by the end of the assessment year. An assessing officer may flag a defective return under §139(9). Defects must be rectified by the taxpayer within 15 days of notification.
Finance Secretary: Tuhin Kanta Pandey,IAS: 7 September 2024 [8] Defence Secretary: Rajesh Kumar Singh,IAS 1 November 2024 [9] Foreign Secretary: Vikram Misri,IFS 15 July 2024 [10] Law Secretary: Vacant Secretary General, Lok Sabha: Utpal Kumar Singh, IAS 30 November 2020 Secretary General, Rajya Sabha: Pramod Chandra Mody, IRS (IT) 12 November ...
Implementing tax-efficient withdrawal strategies will help you maximize your retirement savings. Here are three strategies you can use: Withdraw from taxable accounts first. It is a good idea to ...
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The benefit under Section 80C, Section 80CCC and Section 80CCD(1) is capped at ₹1,50,000 as per 80CCE. Additional investment of up to ₹50,000 under Section 80CCD(1B). This is over and above tax benefit under Section 80C; and is exclusive to NPS. [51] Employer co-contribution up to 10% of basic and DA under Section 80CCD(2) in the Old Tax ...