The upcoming financial year 2025-26, which commences on April 1, 2025, is poised to enhance the disposable income of numerous taxpayers nationwide, courtesy of recent policy changes. Finance Minister Nirmala Sitharaman introduced a Budget that is favourable to the middle class, introducing a range of tax benefits aimed at increasing the funds available to ordinary … Read more
From April 1, 2025, the new income tax return filing season will start for AY2025 -26. For salaried taxpayers, their employer will provide a Form 16 containing all income tax details for the fiscal year 2024-25 (or assessment year 2025-26). Form 16 is a crucial document for salaried employees in India, particularly as the income … Read more
Income tax returns: In the Budget 2025, middle-class taxpayers have received some relief. Under the new tax regime announced by Finance Minister Nirmala Sitharaman, individuals earning up to Rs 12 lakh annually will no longer be required to pay any income tax. The exemption limit has been raised, and tax slabs have been adjusted to provide … Read more
Income Tax: Salaried employees can benefit from many financial benefits offered to them in the form of allowances to reduce their tax burden. Allowances are offered on a monthly basis and must be claimed when filing an income tax return (ITR). The Centre offers many such allowances, which are part of the salary structure. These … Read more
Income Tax Return: This month, employers are scheduled to issue the Form 16 every year on or before June 15. Following this, salaried individuals can expedite the income tax return filing process. Form 16 is one of the several Form 16 is a crucial document that plays an instrumental role in filing income-tax returns (ITR), especially … Read more