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TAX REGIME SWITCHING
Annuity flexibility, tax tweaks can accelerate NPS growth: Axis Pension Fund CEO Sumit ShuklaA senior executive believes greater flexibility in retirement withdrawals and restored tax incentives could significantly boost the Nationa...
ITR filing AY 2026-27: 8 costly mistakes taxpayers should avoid this tax return filing seasonThe I-T Department’s growing scrutiny, using AI and data analytics tools, leaves little room for omissions and errors, making accurate tax ...
Stuck in acres of mediocre: External shocks expose India's slide into middle-income stagnationIndia's economy is experiencing a slowdown. High growth and low inflation mask underlying issues of weak demand and poor productivity. This...
Two phones and an app: How Russians skirt Putin's digital iron curtainSince the Kremlin ratcheted up control over the internet this year, Russians have been turning to increasingly convoluted technical solutio...
NPS growth, performance, market-linked annuities; Sriram Iyer, CEO of HDFC Pension, talks about India’s changing retirement landscapeIndia's retirement planning is evolving with rising private sector NPS participation and evolving annuity products. While government contri...
Fishermen are being pushed to the brink by fuel costs in Southeast AsiaRising energy, freight, and supply chain expenses are escalating seafood prices globally. Governments offer aid, but it's stretched thin, i...
Employee expecting 'good appraisal' gets shocked after salary decreases due to increment. 'There was nothing I could do'A Reddit user shared his experience of expecting a strong appraisal after joining a company just before the review cycle, only to receive a...
From Rs 6.8 lakh to Rs 4.5 lakh: Redditor explains how to save Rs 2.3 lakh in income tax in a year legallyA Redditor demonstrated significant income tax savings under the new regime by strategically restructuring their salary with components lik...
Can you change your tax regime from new to old and vice-versa, while filing ITR? Not alwaysFor FY 2024-25, the new tax regime is the default, impacting ITR filing. Switching to the old regime requires careful consideration, especi...
Who should switch from old to new tax regime after Budget 2024? Here's the mathOld vs New Income Tax Regime 2024: New income tax slabs in new tax regime: The income tax slabs under the new tax regime has been changed i...
TDS on salary of these employees will decrease and others may get the option to join this groupTDS on salary budget 2024: The income tax slabs are proposed to be changed in the new tax regime. This will reduce the amount of TDS on sal...
Income Tax Return: How to select old tax regime while filing ITR for FY2023-24
How to switch from new tax regime to old tax regimeChange income tax regime: At the start of the financial year, an individual is required to select one tax regime - old or new- for deductin...
New vs old income tax regime: These individuals can't switch between regimes every yearAn individual taxpayer has an option to switch between new and old tax regimes every year. In order to be eligible to opt for the preferred...
How many times can you switch between new tax regime and old tax regime?Unless an individual specifies that he/she is opting for the old income tax regime, then the revised new income tax regime will be applicab...
Can you switch tax regime from previous/ last year when filing belated ITR?If an individual is having income from business or profession for FY 2022-23 (AY 2023-24) and want to opt for or opt out of the new tax reg...
Can you change tax regime during financial year 2023-24? CBDT issues circular on TDS on salariesThe income tax dept has issued a circular on April 5, 2023, clarifying how employers can deduct taxes on the salary payments made to an emp...
Can you switch between new tax regime and old tax regime?Can you switch between new tax regime and old tax regime?
5 points to consider before switching to new tax regimeIf someone wants to switch to the new tax regime for the financial year 2022-23, then filing of original income tax return by 31 July 2023 ...
80% may switch income tax regimes: GovernmentUnder the new regime proposed in the Budget, allowances such as HRA and LTA will be added to the income and taxed. Currently, these allowan...