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Important RBI Annoncement to customers on Alterations in the Cheques w.e.f. 01.07.2010. I-T DEPT TO SET UP SPECIAL COUNTERS FOR TAXPAYERS TO RECEIVE I-T RETURNS ON 31ST JULY (SATURDAY) Jeevan Akshay-VI Plan of the L I C of India,eligible for 80C deduction of the Income Tax Act,1961. From 1st April 2010. Tax at higher of the prescribed rate or 20% will be deducted on all transaction Liable to TDS, where the Permanent Account Number (PAN) of the deductee is not available. Perks tax rules replace FBT:Employees will have to pay taxes on perquisites given by their employer Cost Inflation Index for FY 2009-10 for LTCG has been announced as 632