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Browsing Category

Income Tax

134 posts
BlogIncome Tax
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Section 115BAC: A Guide to the New Tax RegimeSeptember 24, 2024

Since its introduction in the budget 2020, Section 115BAC of the Income Tax Act 1961 has become significantly…

Earning More Than Rs. 12 Lakh in a Year? Here’s How Much Tax You Need to Pay
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A Simplified Guide to Tax Deductions Under Section 80GGBSeptember 17, 2024

Section 80GGB of Income Tax Act, 1961 enables all Indian companies registered under the Companies Act of 2013…

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How to Benefit From Section 80CCD (1B) Tax Deductions?September 16, 2024

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
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Section 194A of Income Tax Act: Your Guide to Understand TDS on Interest IncomeAugust 16, 2024

Among the various sections under the Income Tax Act, Section 194A is specifically distinct because it focuses on…

Income Tax Surcharge Rate & Marginal Relief
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What is Surcharge on Income Tax? How to Calculate Your Marginal Relief?August 14, 2024

Under the IT act, paying tax is a responsibility of individuals as well as businesses with an income…

Tax on Inheritance in India
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What is Inheritance Tax Meaning? When is it Imposed on the Property?August 14, 2024

Inheritance tax is levied on the wealth transferred from a deceased person to their heirs. While many countries…

ITR 1 vs ITR 2
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ITR 1 vs ITR 2: Which One to File for ITR FY 2023-2024, AY 2024-2025August 1, 2024

Tax season can be stressful, especially with the July 31st, 2024 deadline fast approaching. However, choosing the right…

70% of Indian Taxpayers Choose New Simplified Tax Regime
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A Whopping 70% of Indian Taxpayers Choose New Simplified Tax RegimeAugust 1, 2024

Synopsis: A record-breaking 70% of the nearly 6 crore Indians who filed their income tax returns for the…

No Extension on Income Tax Deadline
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July 31, 2024: Final Income Tax Filing Deadline, No Extension ExpectedJuly 30, 2024

Synopsis: The deadline for filing income tax returns (ITR) for the financial year 2023-24 is July 31, 2024.…

70% of Indian Taxpayers Choose New Simplified Tax Regime
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Less than 50% of Income Tax Returns Filed; No Extension ExpectedJuly 26, 2024

Synopsis: July 26th, 2024: As the deadline for filing income tax returns approaches on July 31st, the Indian…

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