Income Tax Department simplifies linking PAN with Aadhaar
The ITD has simplified the process of linking PAN with Aadhaar in response to grievances of taxpayers regarding difficulties faced during the process.
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Aadhaar is mandatory for PAN applications and filing the Return of Income
Aadhaar is now made mandatory for PAN applications and filing of Income Tax Returns or ITR according to the latest notification released from the CBDT.
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Rent receipts to reduce tax cannot be faked anymore
Rent receipts to reduce tax cannot be faked anymore according to the Income Tax Dept, which is now insisting on proof such as electricity bill, water bill.
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EPF wage ceiling to be increased to Rs. 25,000
EPF wage ceiling to proposed to be increased to Rs. 25000 by the EPFO which will bring an additional 1 crore formal workers under the social security scheme.
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New ITR for AY 2017-18 notified by the CBDT
The CBDT has notified new ITR for AY 2017-18 for Income Tax Returns. One of the major reforms is one page simplified ITR-1 which can be filed by an individual.
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Digitization of paper meal vouchers
The RBI has recently issued a draft on the use of prepaid instruments which has now called for digitization of paper meal vouchers provided by organizations
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ESI cashless treatment for emergencies re-introduced
The ESIC has decided to reintroduce cashless benefits for its members in case of emergencies which means direct admission to tie-up hospitals is now allowed
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Admin charges for PF has been reduced to 0.65%
According to the latest notification from the PF department, the admin charges for PF has been reduced to 0.65% from existing 0.85%.
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Aadhar card is not required for withdrawing pension
Aadhar card is not required for withdrawing pension. The EPFO has now allowed full and final withdrawal of funds by the subscriber without providing Aadhar card.
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