Know these rules before filing ITR if you had pay cuts or withdrew PF4 min read . Updated: 05 Jul 2021, 01:17 AM IST
If your salaries were deferred, you must ensure that you have paid the right amount of tax on your salary income
The tax-filing season has started. Last year, due to the pandemic, many people faced certain unprecedented situations such as pay cuts, pay deferments and job losses. These have impacted their incomes. Many people withdrew their savings to fund their immediate cash needs. The government also brought certain changes in tax rules to provide certain relief to the taxpayers. For example, it allowed tax-free withdrawal from employees’ provident fund (EPF). Although this withdrawal is tax-free, one needs to show this in the income tax return (ITR). Apart from these, there are other aspects that one should keep in mind while filing the ITR for this financial year.
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