# Income Tax **URL:** https://community.greythr.com/c/untitled/budget-2020/9.md?page=2 [Latest](https://community.greythr.com/latest.md) · [Categories](https://community.greythr.com/categories.md) · [Tags](https://community.greythr.com/tags.md) **Page:** 3 --- ## [Can i invest even if income less than 2.5 LPA?](https://community.greythr.com/t/can-i-invest-even-if-income-less-than-2-5-lpa/3788)
**Author:** [@Nitin](https://community.greythr.com/u/Nitin)\ **Replies:** 1\ **Last updated:** [January 5, 2022, 12:50pm UTC](https://community.greythr.com/t/can-i-invest-even-if-income-less-than-2-5-lpa/3788 "2022-01-05T12:50:16Z")
Income is less than Rs 2.5LPA so I need not compulsorily file ITR. Still I can still invest like the other tax payers? Should the investments be different from then? --- ## [IT dept gives one time relaxation to ITR filing & Late filing ITR?](https://community.greythr.com/t/it-dept-gives-one-time-relaxation-to-itr-filing-late-filing-itr/3797)
**Author:** [@Nitin](https://community.greythr.com/u/Nitin)\ **Replies:** 2\ **Last updated:** [January 4, 2022, 6:47am UTC](https://community.greythr.com/t/it-dept-gives-one-time-relaxation-to-itr-filing-late-filing-itr/3797 "2022-01-04T06:47:07Z")
Will taxpayers be able to file ITRs after the due date? Is there a relaxation on the due date ? --- ## [Alternative Minimum Tax, eligible & exemption](https://community.greythr.com/t/alternative-minimum-tax-eligible-exemption/3786)
**Author:** [@Gowri](https://community.greythr.com/u/Gowri)\ **Replies:** 1\ **Last updated:** [December 31, 2021, 3:18pm UTC](https://community.greythr.com/t/alternative-minimum-tax-eligible-exemption/3786 "2021-12-31T15:18:06Z")
Hi, What is Alternative Minimum Tax applicability? Who is eligible for the exemptions? --- ## [Claiming deduction on interest under Income from other sources](https://community.greythr.com/t/claiming-deduction-on-interest-under-income-from-other-sources/3774)
**Author:** [@Manjunath](https://community.greythr.com/u/Manjunath)\ **Replies:** 1\ **Last updated:** [December 31, 2021, 3:09pm UTC](https://community.greythr.com/t/claiming-deduction-on-interest-under-income-from-other-sources/3774 "2021-12-31T15:09:06Z")
In ITR prefilled form, under Income from other sources, its shown chargeable Interest from savings account to be 25K. Is there any way to claim deduction on the Income from other sources as returns? --- ## [IT deduction for children education loan](https://community.greythr.com/t/it-deduction-for-children-education-loan/3787)
**Author:** [@Nitin](https://community.greythr.com/u/Nitin)\ **Replies:** 2\ **Last updated:** [December 30, 2021, 3:23pm UTC](https://community.greythr.com/t/it-deduction-for-children-education-loan/3787 "2021-12-30T15:23:34Z")
How long can you claim the education loan deductions under Section 80E? Is deduction under 80E part of 80C? --- ## [Tax Relief on Salary Arrears?](https://community.greythr.com/t/tax-relief-on-salary-arrears/3785)
**Author:** [@Anushree](https://community.greythr.com/u/Anushree)\ **Replies:** 1\ **Last updated:** [December 30, 2021, 6:43am UTC](https://community.greythr.com/t/tax-relief-on-salary-arrears/3785 "2021-12-30T06:43:28Z")
Hi, For arrears of salary received , how to determine if you qualify for the tax relief on Salary Arrears? Which assessment year needs to be selected while filing Form 10E? --- ## [How long should a person keep IT return documents?](https://community.greythr.com/t/how-long-should-a-person-keep-it-return-documents/3768)
**Author:** [@Manjunath](https://community.greythr.com/u/Manjunath)\ **Replies:** 1\ **Last updated:** [December 24, 2021, 1:05pm UTC](https://community.greythr.com/t/how-long-should-a-person-keep-it-return-documents/3768 "2021-12-24T13:05:45Z")
Hi, For how long should a person keep IT return documents with them? --- ## [LTA claim on out of India travel](https://community.greythr.com/t/lta-claim-on-out-of-india-travel/3765)
**Author:** [@Prabha](https://community.greythr.com/u/Prabha)\ **Replies:** 1\ **Last updated:** [December 24, 2021, 12:50pm UTC](https://community.greythr.com/t/lta-claim-on-out-of-india-travel/3765 "2021-12-24T12:50:30Z")
Hi, Can LTA claim for travelling out of India accepted? Whose expenses is eligible along with employees claim for LTA? --- ## [Yearend Proof of Investments for final tax computation](https://community.greythr.com/t/yearend-proof-of-investments-for-final-tax-computation/3662)
**Author:** [@sneham95](https://community.greythr.com/u/sneham95)\ **Replies:** 2\ **Last updated:** [December 24, 2021, 9:38am UTC](https://community.greythr.com/t/yearend-proof-of-investments-for-final-tax-computation/3662 "2021-12-24T09:38:54Z")
Hello Generally cut off dates for investment proof submission is by end of Feb or by 15th March latest. Can you please best practices to consider investments made or due after cut off date. Either it can be rejected & … --- ## [Claim HRA without a rent receipt?](https://community.greythr.com/t/claim-hra-without-a-rent-receipt/3766)
**Author:** [@Nitin](https://community.greythr.com/u/Nitin)\ **Replies:** 1\ **Last updated:** [December 23, 2021, 10:07am UTC](https://community.greythr.com/t/claim-hra-without-a-rent-receipt/3766 "2021-12-23T10:07:24Z")
Hi, Is it possible to claim HRA without rent receipt? --- ## [Can TDS return be filed after the due date?](https://community.greythr.com/t/can-tds-return-be-filed-after-the-due-date/3764)
**Author:** [@ManasaRP](https://community.greythr.com/u/ManasaRP)\ **Replies:** 2\ **Last updated:** [December 23, 2021, 7:02am UTC](https://community.greythr.com/t/can-tds-return-be-filed-after-the-due-date/3764 "2021-12-23T07:02:44Z")
If we fails to deposit TDS return on due date and it is filled after 5 days. Whether any penalty is charged? --- ## [Is LTA/LTC scheme available for 2021 22?](https://community.greythr.com/t/is-lta-ltc-scheme-available-for-2021-22/3751)
**Author:** [@NamitaS](https://community.greythr.com/u/NamitaS)\ **Replies:** 1\ **Last updated:** [December 20, 2021, 9:38am UTC](https://community.greythr.com/t/is-lta-ltc-scheme-available-for-2021-22/3751 "2021-12-20T09:38:03Z")
Hi, Is LTA/LTC scheme available for FY 2021 22 also? --- ## [Daily allowance taxable or exempt?](https://community.greythr.com/t/daily-allowance-taxable-or-exempt/3694)
**Author:** [@ManasaRP](https://community.greythr.com/u/ManasaRP)\ **Replies:** 2\ **Last updated:** [December 15, 2021, 3:07pm UTC](https://community.greythr.com/t/daily-allowance-taxable-or-exempt/3694 "2021-12-15T15:07:28Z")
Hi, Is daily allowance taxable or tax exempt? --- ## [Need relief for taxes increased in salary with retrospective effect](https://community.greythr.com/t/need-relief-for-taxes-increased-in-salary-with-retrospective-effect/3695)
**Author:** [@Chitra](https://community.greythr.com/u/Chitra)\ **Replies:** 1\ **Last updated:** [December 9, 2021, 4:51am UTC](https://community.greythr.com/t/need-relief-for-taxes-increased-in-salary-with-retrospective-effect/3695 "2021-12-09T04:51:26Z")
Hi members, Employer increased salary with the retrospective effect. Now, employees feel that they have to bear the burden of paying extra taxes. What alternative is there to reduce this extra costs? --- ## [New Annual Information Statement (AIS). Is Form 26AS not required?](https://community.greythr.com/t/new-annual-information-statement-ais-is-form-26as-not-required/3639)
**Author:** [@ManasaRP](https://community.greythr.com/u/ManasaRP)\ **Replies:** 2\ **Last updated:** [November 30, 2021, 1:29pm UTC](https://community.greythr.com/t/new-annual-information-statement-ais-is-form-26as-not-required/3639 "2021-11-30T13:29:09Z")
Hi, What is the New Annual Information Statement (AIS)? Is it different from Form 26AS? --- ## [Filing Nil return for international workers](https://community.greythr.com/t/filing-nil-return-for-international-workers/3608)
**Author:** [@Gowri](https://community.greythr.com/u/Gowri)\ **Replies:** 1\ **Last updated:** [November 24, 2021, 1:00pm UTC](https://community.greythr.com/t/filing-nil-return-for-international-workers/3608 "2021-11-24T13:00:29Z")
Hi, What is the process in filing Nil return for international workers? --- ## [Professional tax payment to different states in a single year](https://community.greythr.com/t/professional-tax-payment-to-different-states-in-a-single-year/3574)
**Author:** [@Manjunath](https://community.greythr.com/u/Manjunath)\ **Replies:** 4\ **Last updated:** [November 24, 2021, 11:58am UTC](https://community.greythr.com/t/professional-tax-payment-to-different-states-in-a-single-year/3574 "2021-11-24T11:58:39Z")
Hi, If employee switches jobs across states midyear, what is the process of paying professional tax to different states separately? e.g. Chennai, TNadu and Karnataka, TNadu and Pune, Maharashtra --- ## [When bonus gets taxed?](https://community.greythr.com/t/when-bonus-gets-taxed/3601)
**Author:** [@Anisha](https://community.greythr.com/u/Anisha)\ **Replies:** 1\ **Last updated:** [November 22, 2021, 8:28am UTC](https://community.greythr.com/t/when-bonus-gets-taxed/3601 "2021-11-22T08:28:26Z")
Hi, When is the bonus actually gets taxed. Declared year or paid year? What if only percentage is mentioned in declaration? --- ## [Employee misses on giving employer Form 12BB](https://community.greythr.com/t/employee-misses-on-giving-employer-form-12bb/3582)
**Author:** [@Nitin](https://community.greythr.com/u/Nitin)\ **Replies:** 1\ **Last updated:** [November 18, 2021, 12:59pm UTC](https://community.greythr.com/t/employee-misses-on-giving-employer-form-12bb/3582 "2021-11-18T12:59:53Z")
Hi, What happens if employee accidentally forgets to give employer Form 12BB? --- ## [Is employer responsible to deduct tax on PF interest Exceeding 2.5 lakhs or employee?](https://community.greythr.com/t/is-employer-responsible-to-deduct-tax-on-pf-interest-exceeding-2-5-lakhs-or-employee/3369)
**Author:** [@Swati](https://community.greythr.com/u/Swati)\ **Replies:** 1\ **Last updated:** [November 16, 2021, 12:23pm UTC](https://community.greythr.com/t/is-employer-responsible-to-deduct-tax-on-pf-interest-exceeding-2-5-lakhs-or-employee/3369 "2021-11-16T12:23:42Z")
Hi, Is employer responsible to deduct tax on PF interest exceeding 2.5 lakhs or should employee declare it during IT filing? --- ## [Perquisites exempted from Tax and Taxable Perquisites](https://community.greythr.com/t/perquisites-exempted-from-tax-and-taxable-perquisites/3573)
**Author:** [@ManasaRP](https://community.greythr.com/u/ManasaRP)\ **Replies:** 1\ **Last updated:** [November 16, 2021, 10:44am UTC](https://community.greythr.com/t/perquisites-exempted-from-tax-and-taxable-perquisites/3573 "2021-11-16T10:44:52Z")
Hi, What falls under Perquisites exempted from Tax for all Employees? and What falls under Taxable in case of Specified Employees? --- ## [Is severance pay tax exempt?](https://community.greythr.com/t/is-severance-pay-tax-exempt/3555)
**Author:** [@ManasaRP](https://community.greythr.com/u/ManasaRP)\ **Replies:** 1\ **Last updated:** [November 12, 2021, 12:31pm UTC](https://community.greythr.com/t/is-severance-pay-tax-exempt/3555 "2021-11-12T12:31:43Z")
Hi, How is severance packages decided? What’s the tax liability on severance paid? --- ## [Are all monetary gifts received by a individual taxable?](https://community.greythr.com/t/are-all-monetary-gifts-received-by-a-individual-taxable/3559)
**Author:** [@ManasaRP](https://community.greythr.com/u/ManasaRP)\ **Replies:** 1\ **Last updated:** [November 12, 2021, 12:18pm UTC](https://community.greythr.com/t/are-all-monetary-gifts-received-by-a-individual-taxable/3559 "2021-11-12T12:18:49Z")
Hi, Are monetary gifts received by a individual taxable? When is it taxable and when is it not? --- ## [PM cares fund, claim benefit under section 80G](https://community.greythr.com/t/pm-cares-fund-claim-benefit-under-section-80g/3562)
**Author:** [@Anushree](https://community.greythr.com/u/Anushree)\ **Replies:** 1\ **Last updated:** [November 12, 2021, 12:16pm UTC](https://community.greythr.com/t/pm-cares-fund-claim-benefit-under-section-80g/3562 "2021-11-12T12:16:06Z")
Hi, What details related to PM cares fund needed for donations claims made under section 80G? --- ## [TDS deposit due date if it falls on Sunday or Holiday](https://community.greythr.com/t/tds-deposit-due-date-if-it-falls-on-sunday-or-holiday/3556)
**Author:** [@Nitin](https://community.greythr.com/u/Nitin)\ **Replies:** 1\ **Last updated:** [November 10, 2021, 10:04am UTC](https://community.greythr.com/t/tds-deposit-due-date-if-it-falls-on-sunday-or-holiday/3556 "2021-11-10T10:04:32Z")
Hi, What is the due date to pay TDS if the actual due date for payment of TDS is a public holiday or Sunday? Whether the due date of payment of tax including TDS and filing of return of income gets extended automatical… --- ## [Carry forward excess TDS](https://community.greythr.com/t/carry-forward-excess-tds/3534)
**Author:** [@Chitra](https://community.greythr.com/u/Chitra)\ **Replies:** 2\ **Last updated:** [November 9, 2021, 1:28pm UTC](https://community.greythr.com/t/carry-forward-excess-tds/3534 "2021-11-09T13:28:40Z")
Hi, What happens to excess TDS paid in the year? What is the refund process as well? --- ## [To check if have efiled previous year’s return](https://community.greythr.com/t/to-check-if-have-efiled-previous-year-s-return/3544)
**Author:** [@Prabha](https://community.greythr.com/u/Prabha)\ **Replies:** 1\ **Last updated:** [November 9, 2021, 1:14pm UTC](https://community.greythr.com/t/to-check-if-have-efiled-previous-year-s-return/3544 "2021-11-09T13:14:20Z")
Hi, In past 2 years the ITR filing is getting delayed due to various reasons. Suggest team to to check if they efiled previous year’s return correctly? --- ## [Tax guidelines on Diwali Bonus?](https://community.greythr.com/t/tax-guidelines-on-diwali-bonus/3545)
**Author:** [@NamitaS](https://community.greythr.com/u/NamitaS)\ **Replies:** 1\ **Last updated:** [November 9, 2021, 1:02pm UTC](https://community.greythr.com/t/tax-guidelines-on-diwali-bonus/3545 "2021-11-09T13:02:02Z")
Hi Members, Festival wishes to all. What are the tax rules on Diwali gifts or Bonus? Are there ways to save tax on this? --- ## [Issue of TDS Certificate mandatory or optional?](https://community.greythr.com/t/issue-of-tds-certificate-mandatory-or-optional/3510)
**Author:** [@Nitin](https://community.greythr.com/u/Nitin)\ **Replies:** 1\ **Last updated:** [October 31, 2021, 12:24pm UTC](https://community.greythr.com/t/issue-of-tds-certificate-mandatory-or-optional/3510 "2021-10-31T12:24:41Z")
Hi, What is the consequence of employers ignoring to issue of TDS Certificates? --- ## [Double taxation relief](https://community.greythr.com/t/double-taxation-relief/3517)
**Author:** [@ManasaRP](https://community.greythr.com/u/ManasaRP)\ **Replies:** 1\ **Last updated:** [October 29, 2021, 8:46am UTC](https://community.greythr.com/t/double-taxation-relief/3517 "2021-10-29T08:46:44Z")
Hi, What is double taxation and how can one get the double taxation relief? [Previous page](https://community.greythr.com/c/untitled/budget-2020/9.md?page=1) [Next page](https://community.greythr.com/c/untitled/budget-2020/9.md?page=3)