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…
July 31, 2024: Final Income Tax Filing Deadline, No Extension Expected
Synopsis: The deadline for filing income tax returns (ITR) for the financial year 2023-24 is July 31, 2024.…
Less than 50% of Income Tax Returns Filed; No Extension Expected
Synopsis: July 26th, 2024: As the deadline for filing income tax returns approaches on July 31st, the Indian…
New vs. Old Tax System: How India’s Latest Tax Reforms Affect Salaried Individuals
The Indian government is promoting a simplified income tax system for salaried individuals. Introduced in the 2020 budget,…
No Extension for ITR Deadline: Income Tax Department Warns Taxpayers Against Fake News
The Income Tax Department is urging everyone to be aware of false information circulating online. A news clipping…