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Home TAX Income Tax Pay Big Alert! Now These People Will Definitely Have To...
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Income Tax Pay Big Alert! Now These People Will Definitely Have To Pay Income Tax, Otherwise…

By
Pravesh Maurya
-
July 5, 2022
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    Income Tax
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    Income Tax Pay Update: Such norms include deposits of Rs 1 crore or more in the current account, expenditure of more than Rs 2 lakh for foreign travel or Rs 1 lakh for electricity consumption during the year.

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    The Center has expanded the scope of ITR filing to bring more people into the tax
    database. According to the notification issued by the Ministry of Finance, now people with
    higher income groups and income will have to file income tax return.

    With the new changes, more people will be brought under the tax net. The new rules have come into effect from April 2022.

    In addition, an individual whose savings bank account balance is Rs 50 lakh or more in a
    financial year will also have to mandatorily file ITR, irrespective of his level of income.

     

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      Pravesh Maurya
      Pravesh Maurya
      https://www.rightsofemployees.com/
      Pravesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @rightsofemployeescom@gmail.com
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