Tax changes effective from 1 April 2018 (FY 2018-19)

Tax Changes effective from 1 April 2018 (FY 2018-19) Penalty on late filing of ITR upto Rs.10,000 Reduction in time limit to revise ITR, to be done in same assessment year No ITR can be filed after the assessment year Transport allowance and medical reimbursement to employees are taxable Standard deduction of Rs. 40,000 to

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