Dear Friends,
An individual taxpayer opting for the new tax regime <https://m.economictimes.com/topic/new-tax-regime> would have to forgo 70 tax exemptions and deductions. These include deductions under: section 80C <https://m.economictimes.com/topic/section-80C> for a maximum of Rs 1.5 lakh claimed by investing in specified financial products, section 80D for health insurance premiums paid, 80TTA for deduction on savings account interest earned from a bank or post office etc. However, the good news is there are certain tax-exemptions that have been left unchanged in the Finance Bill, 2020. Here is the list of few of the incomes that are exempted from income tax under the new tax regime proposed in Budget 2020. - Interest received on post office savings account balances - Gratuity received from your employer - Amount received on maturity of life insurance - Employer's contribution to your EPF/NPS account - Interest received up to 9.5 percent per annum from EPF - Interest and maturity amount received from PPF - Interest and payment received from Sukanya Samriddhi Yojana - Payment received from NPS account - Gift from employer - Food coupons - Commutation of pension - Leave encashment on retirement - VRS amount click link for details https://m.economictimes.com/wealth/tax/incomes-that-are-exempted-under-the-proposed-new-tax-regime/articleshow/74074285.cms Regards, *Hari Haran Sathyamurthy.Change yourself, otherwise, the nature will do it for you. Of course, Brute force in the slow pace. it will be very harsh and bitterful one.* *Anonymous.* Courtesy IFA Galaxy -- You received this message because you are subscribed to the Google Groups "Thatha_Patty" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/thatha_patty/CABtdc%2BEu097TefQ1vV6J%3DvFoeaWktuDP9o9%3DKziOWzqrW%3D9Bow%40mail.gmail.com.
