- Date of income tax is coming near
- Despite salary cut, there may be a huge income tax
- New Delhi: Due to Corona, people are constantly afraid of job loss, Salary cut has become a part of life but as the date of filing income tax is coming closer people Is facing many other problems. Actually, the tax hit in the Corona Crisis is going to be tremendous and there is no way to avoid it. We told you yesterday how people have to pay huge tax despite losing their jobs. Similarly, those doing work from home will also have to pay more tax.Even if there is no money in the account, people can withdraw up to 10000 rupees from money accounts, know everything about this facilityAlso Read: Speaking about social issues more normal for players now: Rashford
If you are thinking that the government has changed many rules, then tell you that it is not so, but under the old rules (income tax act), your salary, which gets a corona period, now comes more in the taxable income.
Actually our salary comes in 2 parts. Part-A consists of Basic Salary, DA and HRA. At the same time, Party-B has transport allowance, entertainment allowance. The employee gets the amount reimbursed by filling the second part of the bill. These allowances come in non-taxable income. In many places it is also given as a reminder. At the same time, some companies do not even need to bill.
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Why have to pay tax- Actually, the money which was received in the form of transport and allowances during the corona lockdown, has now been converted into taxable income due to working from home and not having lunch or dinner outside. Which means that now you will have to pay tax on salary coming in the name of these allowances, which was not paid earlier.
Similarly, Transport Allowances are exempt from tax to a extent, but now this amount will also be taxed according to your salary slab.
Apart from this, companies are delaying in paying salary, which means that you may have to spend all these expenses from your savings, due to which Corona is also proving dangerous for the employees’ financial health.
