Income tax return: How tax exemptions are different from tax deductions. Explained

Income tax return: How tax exemptions are different from tax deductions. Explained

ITR: Filing tax returns is an annual affair. One should know every detail about the components in Form 16 and how one can get the maximum deductions and exemptions before filing the returns. Tax deductions refer to expenses that you can subtract from your total income, thus lowering the amount of income that is subject … Read more

Save 100% tax: Here is how you can pay zero tax on annual salary up to Rs 15 lakh

Save 100% tax: Here is how you can pay zero tax on annual salary up to Rs 15 lakh

The common perception is that individuals earning up to Rs 15 lakh annually cannot completely save on taxes. However, if planned wisely, one can pay zero tax even with a yearly income of Rs 15 lakh. In this article, we look at how to achieve that. Firstly, by utilising the basic exemption limit offered by … Read more