Budget 2024-25: In the upcoming Union Budget 2024-25 many sectors and segments are expecting subsidies, tax relief, and other subsidies. One such segment is women. Finance Minister Nirmala Sitharaman, along with her team, is expected to introduce a range of policies focused on empowering women in the forthcoming full Budget. These policies may include the … Read more
ITR filing 2024: As the deadline for income tax filing approaches, it is crucial for taxpayers categorised as senior and super senior citizens to understand the specific provisions tailored for them. For the financial year 2023-24, tax-saving investments made by March 31, 2024, will be considered for income tax returns. Many seniors mistakenly believe they need … Read more
An income tax return is a summarised document that contains information about a taxpayer’s earnings over the course of a fiscal year. If an individual misses filing income tax return that he or she will have to pay penalty. The Income Tax department has distinct tax rates for different income brackets. Additionally, the I-T department … Read more
Income Tax Returns FY24: The Income Tax department has asked non-resident Indians (NRIs) to give sworn statements on the exact number of days spent in India, a report said on Tuesday. This comes after the department recently sent numerous advisories to NRIs asking them to verify high-value transactions made in 2022-23 and to address any … Read more
Finance Minister Nirmala Sitharaman is scheduled to present the Interim Budget 2024-25 on February 1, 2024, instead of the full Budget like other years. Last Budget, the Centre brought in multiple new regulations for Income Tax. One notable announcement about personal taxation was the establishment of the New Income Tax Regime as the default tax … Read more