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NIL ITR BENEFITS
Rs 17.25 lakh income of an employee was added as taxable salary despite working in UK; ITAT Delhi gives him relief under India-UK DTAAThe Income Tax Appellate Tribunal (ITAT) Delhi has ruled that even if a non-resident salaried individual has received any ‘per-diem’ paymen...- 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...
- Old vs new tax regime: Key differences that you must know before ITR filing for tax year 2026-27The new tax regime offers lower rates but removes many deductions, making a thorough comparison with the old regime crucial. While both reg...
- Used meal card benefits? Form 12BA deadline alert: Why salaried employees must collect it by April 30 for filing ITR for AY 2026-27Salaried employees need to collect Form 123 from employers by April 30, 2026. This form details perquisites like meal card benefits. It is ...
- Budget 2026 PDF in Hindi and English: Direct links to download the FM Sitharaman's speech and highlightsBudget 2026 in Hindi: Finance Minister Nirmala Sitharaman presented the Union Budget 2026, maintaining unchanged income tax rates and slabs...
- UAE residents investing in Indian mutual funds: Key Indian tax rules you must follow to claim India-UAE DTAA benefitsUAE residents investing in Indian mutual funds can claim tax benefits. They must obtain a Tax Residency Certificate (TRC) from the UAE. Fil...
- Income Tax law for senior citizens and super senior citizens: What’s new for AY 2025-26The Income Tax Department has provided details on tax rules for senior and super senior citizens. For assessment years 2025-26 and 2026-27,...
- Consider filing a 'nil' Income Tax Return - Sometimes it's mandatory, and other times it can benefit youWhile it is true that you may not have any tax dues, that alone does not mean you can skip filing your return. Filing ITR is not just about...
- To prevent TDS on FD under new tax regime can senior citizens with income up to Rs 12 lakh file Form 15H?TDS on FD: If the interest amount in a particular bank is over Rs 1 lakh then TDS is deducted by banks. But if a senior citizen files Form ...
- Can you stop filing ITR if your income is below Rs 12 lakh?The Budget 2025 has raised the threshold of rebate available under Section 87A from Rs 25,000 to Rs 60,000. The basic income exemption limi...
- ITR filing deadline: Last date to claim Section 87A tax rebate; do it now by filing revised ITR on or before January 15, 2025Income tax deadline: The last date to file a revised income tax return (ITR) is January 15, 2025 as per the order of the Honourable Bombay ...
- Filing a nil ITR: 6 unexpected benefits from getting a travel visa, loan, scholarship and moreBenefits of filing an ITR: There are multiple benefits of filing an income tax return (ITR). As per Swapnil Bhaskar, Chief of Strategy, Niy...
- What is a Nil ITR? Check out who is eligible for it and the benefits of filing a Nil ITRIf your income is below the basic exemption, then you need not file an income tax return. Despite this if you voluntarily file your ITR, it...
- Revised procedure for TDS certificates: What NRIs need to knowUnlike residents, NRIs cannot use Form 15G/H and must apply for a reduced or zero TDS certificate. The process involves submitting an onlin...
- Why you should file ITR even if your income is less than Rs 5 lakhIf you have an net taxable income below Rs 5 lakh, then you are eligible for income tax rebate u/s 87A which will essentially make your tax...
- Smart ways to file your income tax return; DIY vs assisted ITR filing via private portalsFor a small price, you can get your tax returns filed by a tax professional. Tax-filing portals also offer expert advice on how to file you...
- What are the common mistakes that people make while filing ITR? Preeti Khurana answersNow, what the government has done from this particular tax filing is that all your tax payments, so whatever taxes you have paid are also n...
- Latest ITR forms have new section for cryptocurrency income: These details will be needed when filingThe new schedule for VDA requires details like date of acquisition, date of transfer head under which income to be taxed (capital Gain), co...
- My total income from pension and investments is Rs 13 lakh. Which ITR form should I use for filing ITR?Your pension income will need to be declared under salary head and offered to tax at your applicable slab rate after standard deduction of ...
- Budget 2019 analysis: What income tax changes mean for youHere is a look at the tax proposals announced in both the budgets and their tax impact on your pocket.
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