Check out our most Popular Searches
Choose The Product You Are Applying For
Check out our most Popular Searches
Choose The Product You Are Applying For
Category : Tax
The Income Tax Act of 1961 is a comprehensive set of laws governing taxation in India. It provides the provisions for levying, collecting and recovering tax on income earned by every taxpaying entity in the country. The official website of the Income Tax Department of India lists 23 chapters and 298 sections of this Act, listing rules and regulations related to taxation.
Category : Tax
Income tax applies to the taxable earnings of every individual. Tax is calculated based on the slab or categories an individual falls into. This ’slab’ is referred to as Income Tax Slab. Read on to know the the various tax slabs under old and new tax regime associated rates in India, the factors that affect them, and more. Keep reading!
Category : Tax
Income tax calculation for FY 2023-24 and AY 2024-25 requires a thorough understanding of the income tax slab rates, deductions and exemptions under the new and old tax regime. Using an income tax calculator streamlines this process, offering individuals a reliable tool to estimate their tax liability with ease.
Category : Tax
The Income Tax Returns or ITR form has to be filled out and submitted to the Income Tax Department of India every year within the due date. The tax returns is a form detailing that provides all relevant information related to your income and the applicable taxes during a particular financial year, from 1st April to 31st March.
Category : Tax
If you are a salaried employee, you must come across a term professional tax on your salary slip. Do you know what is a professional tax? Is it just for salaried professionals? Read on to find out!
Category : Tax
Managing finances effectively involves not just saving money but also minimising your tax burden. The Indian Government offers a variety of tax-saving instruments that allow you to invest while reducing your taxable income. This blog explores some of the most popular tax-saving investments, helping you to learn how to save tax. Choose the ones that best suit your financial goals and risk tolerance. Keep reading!
Category : Tax
Tax concepts simplify how taxes work in India and help manage taxes effectively. Whether youe an individual or a business, taxes play a big role in your finances. This blog explores the basic concepts of income tax and strategies for smart tax planning. Read on!
Category : Tax
Finding it challenging to decode what tax exemption is and the categories present under it? Tax exemptions help taxpayers to decrease their tax liability. In India, tax exemption laws include provisions that allow certain taxpayers to save taxes on specific income or transactions.
Category : Tax
The Goods and Services Tax (GST) is a major reform of the Indian indirect tax system. It has replaced a multitude of indirect taxes levied by the state and central governments. GST has several advantages, starting from simplifying the tax system, reducing its cascading effect on taxes, and making compliance easier for businesses. Read on to learn about GST, its benefits, and more! But first, lets discuss about CGST and SGST.
Category : Tax
On February 1, Nirmala Sitharaman, Union Finance Minister, will present the Union Budget 2024 - 25 to the Lok Sabha. As early next year, the elections for the Lok Sabha are due, it will be termed as an interim Budget. The Finance Minister will present the full Budget for FY25 after the formation of the new government following the elections.
Category : Tax
According to the Constitution of Indias Article 112, presenting a budget at the Parliament is mandatory before starting a financial year. Popularly known as the Union Budget, it is issued for the upcoming fiscal year, usually in the first week of February. The Union Budget for FY 2024-25 will be presented on 1st February 2024 and will highlight how some of the key sectors in India will be impacted by it.
Category : Tax
The Income Tax department allows several deductions from your taxable income under Chapter VI A of the IT Act. Among all these provisions, Section 80C creates room for up to Rs. 1.5 Lakh deduction from every taxpayer’s annual income. In this blog, you will learn about the top investment options that enable tax savings through Section 80C.
