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AKHIL CHANDNA
Zero income tax on Rs 15 lakh CTC? Here’s how these allowances and perks can cut your tax under new tax regimeSalaried individuals can significantly reduce their tax liability under the new tax regime by strategically utilizing allowances and perqui...- One time undisclosed foreign income disclosure scheme announced in Budget 2026 for these taxpayersA new scheme will allow small taxpayers to declare undeclared foreign assets. This one-time offer covers income or assets up to one crore r...
- Tax relief already delivered, says Economic Survey: Experts decode what Budget 2026 is likely to offer on income tax and beyondIndia's Economic Survey reveals significant tax relief for households has been provided, with the fiscal deficit falling below target. Expe...
- Social dialogue among govt employers, workers essential as labour codes take effect, says ILO DGIndia's new labor codes, now notified, promise universal social security for gig workers, mandatory appointment letters, and statutory mini...
- Now get faster tax refunds and easier ITR corrections: New CBDT rules explainedNew CBDT rules empower the Commissioner of Income Tax (CPC), Bengaluru, to rectify obvious errors. This move aims to expedite the correctio...
- Majority of individual taxpayers seek income tax cut in FY26 Budget: Grant Thornton Bharat surveyGrant Thornton Bharat's pre-budget survey indicated that individual taxpayers desire lower tax rates in the upcoming Budget, with 57% advoc...
- Will the ITR deadline be extended automatically for audited accounts due to the extension of tax audit deadlineDeadline to file ITR: The income tax filing deadline for those who are liable to conduct income tax audit is October 31, 2024. Do note that...
- Filed ITR but didn't get tax refund yet? You may need to request reissuance of tax refund in these casesIncome tax refund: Even if you file your income tax return (ITR) before the deadline, there is no guarantee that the tax refund will come i...
- Can you carry forward losses while filing ITR under the new tax regime? Read the fine printCarry forward and set off of losses in new tax regime: The income tax laws under the old tax regime allow carrying forward and set off of l...
- EPFO discontinues GIS deductions, to refund past deductions: These government employees to get higher salaryEPFO: Specified employees stand to gain due to EPFO's decision of discontinuing GIS deductions and refunding all deductions made thus far. ...
- Makeover likely to give faceless I-T assessment a friendlier face"It is being reviewed to assess effectiveness," said an official, adding that there is a line of thinking that it should be made optional f...
- Lower effective tax rate of 39% instead of 42.74% in top bracket of new tax regime; here's how marginal relief worksSurcharge on income: Individuals having income(s) above Rs 50 lakh have to pay an additional tax known as 'surcharge'. Budget 2023 made Sur...
- HRA tax exemption: Are both rent receipts and rent agreement a must as income tax proofs?Documents for HRA tax exemption: To claim HRA from their employers, many salaried employees usually use either rent receipts or rent agreem...
- How to avoid rejection of EPF withdrawal claim; Steps provident fund member should takeEPF Withdrawal claim rejection: Many individuals are struggling to get their EPF money at the time of withdrawal. The reason for rejection ...
- Deductions that must be added in new tax regime to make it attractive in interim Budget 2024: ExpertsDeductions under new tax regime: The interim budget by the Modi government is around the corner. Many salaried individuals are hoping for s...
- Received Diwali Bonus via cash, gift card, e-voucher, prepaid cards? Know how much income tax you will have to payMultiple corporate and some government employees would have received their Diwali bonus. Further it is not always necessary to receive Diwa...
- If EPS 95 member dies before retirement, when will the spouse get pension and how much?If an EPS member dies after retirement surviving spouse gets a pension which is typically 50% of what the member was getting. However, what...
- I-T issues rules for pros to switch between old, new tax regimesThe new tax regime has been made the default tax regime from the current financial year. Earlier, while salaried individuals had the option...
- Most companies adopt WFH policy post-Covid relaxations; emotional connect with employees remains priorityOther firms, confident about their employees, are also evaluating the WFH policy.
- Budget 2018: Will house property EMIs bring your tax outflow down?Apart from the deduction on interest component, the Finance Minister may also consider increasing the deduction under section 80C to Rs 2,0...
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