Income

Income Tax Return: Can Budget 2024 tweaks impact your ITR filing? All you need to know ahead of July 31 deadline

With the revision of tax rates in the new tax regime (NTR) announced in Budget 2024, some taxpayers are in…

4 months ago

ITR filing: Still want to switch to old income tax regime? Here is what you can do

In Budget 2024, the central government has sweetened the new tax regime with more slab relaxations and an increase in…

4 months ago

Budget 2024: Investing in real estate? Check how income tax amendments can affect your property transactions

Budget 2024: In the Union Budget 2024 tabled in the Lok Sabha on Tuesday, Finance Minister Nirmala Sitharaman proposed some…

4 months ago

Budget 2024: Taxpayers can re-assess income tax file beyond 3 years, and till 5 years, IF… FM revises time limit

With the concerns of the period of reassessment and reopening of income tax file, finance minister Nirmala Sitharaman in budget…

4 months ago

Budget 2024: Here’s how much income tax you will pay now if you earn ₹5 lakh

Finance Minister Nirmala Sitharaman presented her seventh consecutive budget on July 23. This budget marks the first budget of the…

4 months ago

Income tax budget 2024: Standard deduction for salaried individuals hiked for these taxpayers. Details here

Presenting the Budget for 2024-25 in the Lok Sabha, Finance Minister Nirmala Sitharaman said the standard deduction for salaried employees…

4 months ago

Budget 2024 Expectations: Income tax rebate to home loan tax exemption. What ‘aam aadmi’ expects from FM Sitharaman

Budget 2024 Expectations: Union Finance Minister Nirmala Sitharaman is set to present the Budget for the financial year 2024-25 in…

4 months ago

ITR filing: Here is a lowdown on new income tax regime— check exemptions and deductions

Although a range of tax-related changes are introduced every year for taxpayers, a few key changes are ‘radical’ and occur…

4 months ago

ITR Filing 2024: What is the penalty amount for filing income tax returns after the due date?

Submitting the Income Tax Return (ITR) is essential as it outlines a taxpayer’s earnings over the fiscal year, and doing…

4 months ago

ITR Filing 2024: How can you verify your income tax return? A step-by-step guide

Verifying your Income Tax Return (ITR) after filing is crucial, and fortunately, the Income Tax Department offers several convenient methods…

4 months ago

New Tax Regime 2024: From implications to benefits; all you need to know

The introduction of the new tax regime in India marks a significant shift in the country's tax landscape, aimed at…

4 months ago

Explained: Income tax implications for money transferred by Karta of a Hindu Undivided Family to his HUF

If Karta of a HUF transfers money from his account to the HUF account. How is it to be treated?…

4 months ago

Income tax return (ITR) filing: Here is how to correct discrepancies in AIS, TIS, and 26AS

Individual taxpayers must file income tax returns (ITR) before 31 July 2024 to avoid penalties. This deadline marks the final…

4 months ago

ITR filing FY 2023-24: How to pay income tax using your credit card? A step-by-step guide

The deadline for filing income tax returns (ITR) for the financial year 2023-24 is July 31. There are numerous benefits…

4 months ago

How will a seafarer’s income be taxed?

I have been working in merchant navy for five years. Every year, the high seas voyage amounts to about six-seven…

4 months ago

Congressman Matt Gaetz Introduces Bill to Allow Federal Income Tax Payments in Bitcoin

Congressman Matt Gaetz (R-FL) has introduced legislation to allow federal income tax payments to be made in Bitcoin. Exclusively reported first…

5 months ago

Income tax return filing 2024: How to choose the right ITR form

The Indian Income Tax Department provides various income tax return (ITR) forms tailored to different taxpayer scenarios. Selecting the appropriate…

5 months ago

ITR filing: Top mistakes to avoid when filing Income Tax returns

Filing Income Tax Returns (ITR) is a crucial responsibility for taxpayers in India. Ensuring accurate and timely submissions can prevent…

5 months ago

Darshan: Police Seek Income Tax Probe into ₹70L Seized from Darshan, Wife, and Aides | Bengaluru News

BENGALURU: Kannada film actor Darshan may face the heat of the Income Tax (I-T) department soon as city police have…

5 months ago

Union Budget: Govt mulls income tax cuts, new slab to boost consumption

Prime Minister Narendra Modi’s government is considering consumption-boosting measures worth more than 500 billion rupees ($6 billion) in India’s upcoming…

5 months ago