How can I get my PF amount immediately?
Here are the steps you need to follow:
- Login to the portal – Visit the EPFO e-SEWA portal and login using your UAN and password, and enter the captcha code.
- Visit Online Claims section – When you’ve logged in, you can look for ‘Claim (Form-31, 19, 10C & 10D)’ in the ‘Online Services’ section.
What is the tax slab for 2020-21?
Income tax slab rate applicable for New Tax regime – FY 2020-21.
| Income Tax Slab | New Regime Income Tax Slab Rates for FY 2020-21 (Applicable for All Individuals & HUF) |
|---|---|
| Rs. 5.00 lakhs- Rs 7.5 Lakhs | 10% |
| Rs 7.5 lakhs – Rs 10.00 Lakhs | 15% |
| Rs 10.00 lakhs – Rs. 12.50 Lakhs | 20% |
| Rs. 12.5 lakhs- Rs. 15.00 Lakhs | 25% |
How can I save tax on 2020-21?
Tips for Saving Tax in FY 2020-21
- Invest in Equity-Linked Saving Scheme (ELSS)
- Invest in the National Pension Scheme.
- Invest in Sukanya Samriddhi Yojna.
- Know When to Opt for the New Tax Regime.
Where should I put money to avoid taxes?
These tips can help you reduce taxes on your income
- Invest in Municipal Bonds.
- Take Long-Term Capital Gains.
- Start a Business.
- Max Out Retirement Accounts and Employee Benefits.
- Use an HSA.
- Claim Tax Credits.
- The Bottom Line.
What is the best tax saving investment?
Best Tax-Saving Investments Under Section 80C
| Investment | Returns | Lock-in Period |
|---|---|---|
| Public Provident Fund (PPF) | 7%-8% | 15 years |
| Sukanya Samriddhi Yojana | 8.5% | N/A |
| National Savings Certificate | 7%-8% | 5 years |
| Senior Citizen Saving Scheme | 8.7% | 5 years |
Can I invest now FY 2020-21?
If you still have not completed your tax-saving exercise for the financial year 2020-21, then you should hurry up as today, March 31, 2021 is the last date to do it. Do keep in mind that effective from FY 2020-21, an individual has the option to choose between the old/existing tax regime and new tax regime.
What is the last date of investment for FY 2020-21?
March 31
What is the minimum taxable income for 2020?
The minimum income amount depends on your filing status and age. In 2020, for example, the minimum for single filing status if under age 65 is $12,400. If your income is below that threshold, you generally do not need to file a federal tax return.
Are you filing return of income under seventh?
The Central Board of Direct Taxes mandates everyone to file the income tax return if one’s income exceeds the basic exemption limit. Filing an income tax return every year on time has many benefits even if your annual income is below the minimum taxable limit.
Are you filing under 139?
Under Section 139(1), in the following cases the filing of Income Tax Return is Mandatory: Every person who has a total income that exceeds the exemption limit is liable to furnish Income Tax Return within the due date. Any private, public, domestic or foreign country located and/or doing business in India.