Kapil Commerce Classes

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📢 CS Executive New Batch Launched! 💻 Free Live Classes on YouTube – Learn Anytime, Anywhere! 📲 Download the KCC App for Exclusive Content & Updates. Subscribe Youtube Channel ~ https://youtube.com/@kapilcommercecla... Follow on Instagram ~ instagram.com/kapilcommerceclasses Join Telegram Channel ~ t.me/Kapilcommerceclasses Follow Facebook Page ~ facebook.com/kapilcommerceclass Download App ~ https://play.google.com/store/apps/de.. Visit Website ~ https://kapilcommerceclasses.in/

*Key Income Tax Updates*: 1. *Senior Citizen FD TDS Exemption:* The TDS exemption limit on fixed deposit interest for senior citizens has been increased from ₹50,000 to ₹1,00,000. 2. *NPS Vatsalya for 80CCD Deduction:* Contributions under the NPS Vatsalya scheme are now eligible for deduction under Section 80CCD. 3. *TDS on Rent:* Tax deduction at source (TDS) will apply on rent payments exceeding ₹6 lakh per year. 4. *Notional Rent on Self-Occupied Properties:* No notional rent will be imputed for up to two self-occupied residential properties. 5. *Updated Return Filing Period:* Taxpayers can now file an updated income tax return (ITR) for up to four years from the end of the relevant assessment year. 6. *Nil Tax Slab Increase in New Regime:* The tax-free income threshold under the new tax regime has been raised to ₹12 lakh, although income from capital gains is not included in this exemption. Thanks, CMA Kapil Kumar Agarwal