Tax

’Tax terrorism, deep state’: Rahul Gandhi’s 6 people control ’Chakravyuh’ jibe at BJP in Lok Sabha | 10 points

Rahul Gandhi, the Leader of the Opposition in the Lok Sabha and Congress MP from Rae Bareli, criticized the BJP-led…

4 months ago

ITR Filing: Want to switch back to the old tax regime? Here’s how to do it

There is some leeway in selecting a tax regime thanks to the Income Tax Department. Lower tax rates and a…

4 months ago

Sold house in last 2 years? You may get both indexation benefit and lower 12.5% tax rate

The Budget has dealt a blow to property owners by removing the indexation benefit. Previously, sellers could adjust the purchase…

4 months ago

Confused whether capital gains tax on your asset sale will be short term or long term? Here is a complete guide

If you have recently sold an asset and are unsure whether the sale will be computed as per the short-term…

4 months ago

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: How will capital gains tax tweaks impact taxpayers? Beneficial, says I-T department. Here’s the math

In the Union Budget 2024, presented by Finance Minister Nirmala Sitharaman on July 23, the tax rates for long-term capital…

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

Moving abroad? Here’s a checklist for managing investments as an NRI

Here’s a comprehensive guide on making informed decisions and avoiding legal or financial pitfalls during this transition. Understand your NRI…

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