The Income Tax filing deadline is just 46 days away from today, with the deadline being on July 31, 2024. Taxpayers should be ready to file their returns anytime now at the tax rates declared by the government. One should note that there are two types of tax regimes — Old Tax Regime and New Tax … Read more
ITR filing for FY2024: The Income Tax Return filing time has kickstarted for AY 2024-25 and FY2024 and will end on July 31, 2024. The deadline is for taxpayers, including individuals, bodies of individuals, or associations of persons. There are different ITR forms meant for different sections of taxpayers. This is largely based on the … Read more
It is important to understand that you are eligible for deduction on interest paid on your home loan under section 24(b) of the Income Tax Act . However, there are specific regulations when and how this deduction can be availed. For instance during the construction phase, the interest paid on a home loan is termed … Read more
Since the Centre made the New Tax Regime the default tax system in 2023, there has been many reports on which tax system is better and what to choose. The government introduced a new tax regime, known as Section 115BAC, as an alternative to the old tax regime. This new regime was optional and started … Read more
To beat the last minute rush, at least some taxpayers have started filing their income tax returns for assessment year 2024-25 after the Central Board of Direct Taxes (CBDT) enabled functionalities for commonly used income tax returns from April 1 this year. According to data with the income tax department, as many as 119,000 income … Read more
The Central Board of Direct Taxes (CBDT) on Thursday said it has facilitated taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024-25, i.e. FY2023-24) from April 1, 2024. The ITRs, i.e. ITR-1, ITR-2 and ITR-4, which are the most commonly used by taxpayers, are now available on the e-filing portal. Taxpayers … Read more
The income tax (I-T) department introduced a new tax regime in financial year 2020-21, giving taxpayers the choice between this and the old one. These two regimes differ in terms of taxation slabs, rates and allowances deduction, ultimately affecting the investment proof submission. Every employer may have specific requirements for submitting investment proofs, so employees … Read more
National Pension System 2024: The Centre may extend the benefits of the National Pension System (NPS) to the new tax regime, a report said on Wednesday. It is to be noted that the New Tax Regime doesn’t have most tax exemptions valid under the Old Tax Regime. CNBC Awaaz reported that the government may make … Read more
The Income Tax Department on Friday said over 8 crore income tax returns were filed for assessment year 2023-24 till date. In a post on X, I-T deparment said: “Unique landmark for the Income-tax Department! Over 8 crore ITRs filed for the AY 2023-24 till date,” the income tax department said in a post on … Read more
A spokesman for Valneva said the firm was “exploring options for its Almeida manufacturing facility in Livingston, initially built to produce its Covid-19 vaccine, including a possible sale or a repurposing to produce its vaccine for Japanese Encephalitis, and its chikungunya vaccine, if approved”. Source link