Project IEC 3.0: Tax Department to Launch Improved ITR Filing Portal
The Income Tax Department plans to revamp its e-filing system by launching Project IEC 3.0. The new system…
8th Pay Commission Update: What Central Government Employees Can Expect
Central government employees are hopeful for the upcoming 8th Pay Commission as they recently received a 3% dearness…
Section 115BAC: A Guide to the New Tax Regime
Since its introduction in the budget 2020, Section 115BAC of the Income Tax Act 1961 has become significantly…
A Simplified Guide to Tax Deductions Under Section 80GGB
Section 80GGB of Income Tax Act, 1961 enables all Indian companies registered under the Companies Act of 2013…
How to Benefit From Section 80CCD (1B) Tax Deductions?
With Section 80CCD(1B), you can claim an extra deduction of up to ₹50,000 for contributions made to the…
Section 194A of Income Tax Act: Your Guide to Understand TDS on Interest Income
Among the various sections under the Income Tax Act, Section 194A is specifically distinct because it focuses on…
What is Surcharge on Income Tax? How to Calculate Your Marginal Relief?
Under the IT act, paying tax is a responsibility of individuals as well as businesses with an income…
What is Inheritance Tax Meaning? When is it Imposed on the Property?
Inheritance tax is levied on the wealth transferred from a deceased person to their heirs. While many countries…
ITR 1 vs ITR 2: Which One to File for ITR FY 2023-2024, AY 2024-2025
Tax season can be stressful, especially with the July 31st, 2024 deadline fast approaching. However, choosing the right…
A Whopping 70% of Indian Taxpayers Choose New Simplified Tax Regime
Synopsis: A record-breaking 70% of the nearly 6 crore Indians who filed their income tax returns for the…