The interest rate that was fixed for the last financial year i.e. 2021-22 was the lowest in 43 years. Last year, the interest rate on PF was reduced from 8.5 per cent to 8.1 per cent. There was no change in the rate of interest of PF in the financial year 2020-21. Just a year before this, the interest rate was reduced from 8.65 per cent to 8.5 per cent in 2019-20.

In March 2022, the CBDT i.e. Central Board of Trustees had recommended an interest rate of 8.1 per cent for over 6 crore active subscribers of EPFO ​​for the financial year 2021-22, leaving an estimated surplus of Rs 450 crore. According to sources, EPFO ​​can retain the current interest rate of 8.1 per cent. This can be done keeping in mind the potential for higher returns in equity investments.

The post PF account holders: Big news! PF interest rates for FY23 will be decided on this date first appeared on Rightsofemployees.com.

The Central Board of Direct Taxes (CBDT) has issued all forms from the first form to the sixth form of ITR through a notification dated 10th February. Apart from this, ITR-5 (verification form) and ITR acknowledgment form have also been notified.

The Income Tax Department has notified the ITR form for the financial year 2022-23 i.e. assessment year 2023-24. The Central Board of Direct Taxes ( CBDT ) has issued all forms from the first form to the sixth form of ITR through a notification dated 10th February.

Apart from this, ITR-5 (verification form) and ITR acknowledgment form have also been notified. These ITR Forms (Income Tax Return Forms) are for Individuals and Businesses which they have to file by selecting them according to their income and source of income.

Forms have been released early this time

CBDT has issued the form to file ITR for the financial year 2022-23, while this financial year is not over yet. Last year these types of forms were issued in the first week of April. The early release of forms will not only benefit taxpayers but also e-filing portals, third party software companies and tax professionals. This is because they will now get more time for ITR related preparations.

What is the meaning of all forms of ITR?

ITR-1 is to be filed if the income is up to Rs 50 lakh and income from salary, one house property and other sources including interest. On the other hand, individuals, HUFs (Hindu Undivided Families) and firms will file ITR-4 with income up to Rs 50 lakh and income from business-profession. ITR-2 for income from residential property, ITR-3 for professionals, ITR-5 and ITR-6 for LLPs (Limited Liability Partnership) and businesses.

The post ITR new form released: ITR forms for FY23 released there will be big benefits if notified two mnths in advance first appeared on Rightsofemployees.com.