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ITR filing 2026: Foreign income and overseas assets? Avoid these 7 costly disclosure mistakesReturning Indians face new tax filing complexities. Foreign retirement accounts now necessitate the more detailed ITR-2, moving away from t...- India grants retrospective custom duty relief on imports of select nuclear power generation equipmentIndia has granted retrospective customs duty relief on specified nuclear power generation equipment imported between April 1, 2019 and Janu...
- 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...
- Man bought demo car at big discount, RTO officer seized it citing Rs 60 lakh road tax dues; Karnataka HC gives relief to car ownerA Bengaluru RTO officer unlawfully seized Mr. Rama's demo car, leading to a zero FIR and charges of fraud. The Karnataka High Court quashed...
- Bengaluru CA explains zero tax trick on Rs 17 lakh rent income : 'No bills, no receipts....'India's tax framework allows certain individuals to legally reduce rental income tax to zero. A flat 30% deduction on gross rental income, ...
- Income tax rebate rules for FY 2025-26 (AY 2026-27) explained: How your tax can become zero and changes experts want in Budget 2026Budget 2026 approaches with taxpayers focused on the income tax rebate. Experts anticipate changes to Section 87A, potentially increasing l...
- Taxable income below Rs 7 lakh: Will you pay zero income tax if this income includes LTCG and STCG for FY 2024-25?Zero tax on incomes up to Rs 7 lakh: Budget 2025 clarified that tax rebate under Section 87A will not be available to incomes that are taxe...
- New income tax slabs from April 1, 2025: Know tax slabs, rates under new, old tax regime for FY 2025-26 (AY 2026-27)With the start of the new financial year, many income tax changes will take effect; understanding the latest income tax slabs will help you...
- No tax for up to Rs 12.75 lakh income for salaried under new tax regime as Section 87A tax rebate hiked in Budget 2025Section 87A tax rebate: Tax Rebate under Section 87A is given to reduce your taxable income to nil. It is a better option to give tax relie...
- New income tax slabs can save you this much tax if your income is Rs 7.75 lakh or 15 lakh, 25 lakh or 30 lakh, 50 lakh or 1 crore and aboveTax saved Budget 2024: The income tax slabs have been changed in the new tax regime. Many salaried and taxpayers are confused how much tax ...
- New income tax slabs announced in new tax regime in Budget 2024New Income Tax Slab: Latest income tax slabs in new tax regime in Budget 2024: The income tax slabs and rates have been changed by the fina...
- Has Section 87A tax rebate been increased in old, new tax regime in Budget 2024?Section 87A tax rebate in Budget 2024: The finance minister Nirmala Sitharaman has not made any changes in tax rebate amount available unde...
- Missing ITR filing deadline can cost you much more than just late filing feeCost of missing ITR filing deadline: Missing income tax return filing deadline of July 31 not only leads to payment of penalty of up to Rs ...
- 6 income tax rules that salaried should know as financial year 2024-25 starts from April 1Income tax rules from April 1 for FY 2024-25 (AY 2025-26): The new financial years starts from April 1. It is important to know the correct...
- Has Budget 2024 hiked income tax rebate under section 87A in old tax regime, new tax regime?Section 87A tax rebate in Budget 2024: Due to tax rebate under Section 87A individuals need not pay income tax if their taxable income does...
- Salaried, pensioners to pay nil tax on income up to Rs 7.5 lakh in new tax regimeThe deduction and rebate in the new tax regime besides the tweak in income tax slab for individual taxpayers like salaried, pensioner and f...
- You will end up paying 40% of your one month's gross salary as income tax for a minor income riseIf you are not a salaried individual and your income goes up by Rs 2,000 from Rs 7 lakh to 7.02 lakh then you will be needed to pay an inco...
- How will imports and export be taxed under GST?The incidence of tax will follow the destination principle and the tax revenue in case of SGST will accrue to the State where the imported ...
- Q & A: TaxationNote that when you own multiple self-occupied houses, only one of them at your option can be considered as self-occupied for the purposes o...
- Delhi to slap entry tax on goods from statesTHE DELHI government, aiming to replace sales tax by a Value Added Tax by April 1, 2002, plans to give set-off of VAT paid on inputs agains...
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