The concept of Previous Year and Assessment Year, thus, were creating confusion in the minds of taxpayers as they represented two different years.
Learn MoreThe Income Tax Bill 2025 has several aspects to be considered by the Non-Resident Indians as Clauses replace Sections.
Learn MoreThe essence of the Bill remains the same and the existing tax base, tax rates, computation mechanism etc. have been largely unchanged.
Learn MoreThe new income tax law will replace the existing Income Tax Act of 1961. The tax Bill is being brought to make the tax process simple and clear.
Learn MoreOld Vs New Tax Regime: For individuals earning Rs 15 lakh annually, opting for the old tax regime can result in tax savings of up to Rs 48,100, provided they maximize deductions like HRA, 80C, 80D, and home loan benefits.
Learn MoreAmong the most significant announcements was the introduction of a New Income Tax Bill, set to be tabled this week
Learn MoreThe revised tax structure also introduces a 25% tax slab for incomes between Rs 20 lakh and Rs 24 lakh.
Learn MoreThe new structure will significantly enhance the accessibility of the middle class by leaving them with more disposable income.
Learn MoreThe standard deduction on salary streamlines tax filing for salaried individuals by reducing taxable income by a set amount, minimizing the overall tax burden.
Learn MoreNew Tax Regime Slabs 2025 for Salaried Employees: As per the updated structure, individuals earning up to Rs 12 lakh per annum will not have to pay any income tax, offering a substantial benefit compared to previous years
Learn MoreInitially, the Central Board of Direct Taxes (CBDT) set the original deadline for filing of belated or revised tax returns as December 31, 2024. Later, it extended this deadline to provide additional time for taxpayers.
Learn MoreThis article explores how inflation erodes the value of Rs 1 crore over time, calculating its worth in 20, 30, and 50 years based on a 6% inflation rate.
Learn MoreAs Budget 2025-26 approaches, senior citizens await potential tax relief. A query was recently raised in the Lok Sabha if the government plans to offer a tax rebate on incomes up to Rs 7.5 lakh and a 5% tax on Rs 7.5-10 lakh.
Learn MoreAadhaar card update: After extending the deadline multiple times in the past, the UIDAI has urged residents who got their Aadhaar issued 10 years back to get their documents updated by December 14, 2024.
Learn MoreTerm insurance is a straightforward life insurance policy that provides coverage for a specific period, or 'term'; if the insured person passes away during this period, the policy's beneficiaries receive a death benefit.
Learn MoreA common mistake is assuming that the value of retirement savings will remain constant over time. For example, a ₹5 crore corpus today will lose significant purchasing power over 25 or 30 years due to inflation.
Learn MoreThe insurance plans were launched on Monday by LIC CEO and MD Siddhartha Mohanty and will be available both available offline and online.
Learn MoreITR Filing Date 2024 Live Updates: The income tax return deadline might be extended beyond July 31. Fresh updates from Income Tax Department on ITR deadline extension! What we know so far about the current status and when to expect refunds after e-verification and processing of income tax return.
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