Important Amendments applicable for FY 2019-20 (AY 2020-21)

• August 11, 2020
• CA Chandan Agarwal's Office

Article discusses Important Amendments applicable for AY 2020-21 (PY 2019-20) which includes Changes in Rebate under section 87A, Increase in Standard Deduction for Salaried employees, Increase in Tax Audit Limit, Amendment in Section 54 Provisions, Amendment in provisions related to deduction under section 80EEA and section 80EEB, Decrease in MAT rate, New Tax Rates for Corporate Assessees, Changes in TDS, Change in provisions related to Compulsory Income Tax Return filing and changes in Income tax rates.

Some Important Amendments applicable for AY 2020-21 (PY 2019-20) are noted below:

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