Budget 2024: The salaried class has high expectations for the upcoming budget as there was not much relief for the taxpayers in the interim budget of 2024. Anticipating Budget 2024, substantial tax reforms are expected to provide relief and boost savings for taxpayers, especially the middle class. Personal Finance Experts suggest potential changes such as … Read more
As a taxpayer, you must be aware of the fact that the new tax regime is now the default regime. Therefore, one has to opt for the old tax regime in case they want to avail one or more tax deductions and exemptions. The last date to file income tax return for financial year 2023-24 … Read more
As the last date to file the income tax return (ITR) looms closer and you have not yet filed the return, it is imperative to first decide the tax regime you plan to opt for. One should file their ITR by July 31 of a financial year to avoid penalties. It is noteworthy to mention … Read more
The Indian government is considering to lower certain personal income tax rates, multiple government officials were quoted as saying by Moneycontrol. In the upcoming budget, likely to be presented in mid-July, the Centre plans to raise the income threshold before any tax is levied from ₹3 lakh to ₹5 lakh. This change will apply only … Read more
With the dawn of Modi 3.0, all eyes are eagerly set on the upcoming Union Budget of 2024, slated for presentation in July. Anticipation runs high among industries, farmers, taxpayers, and the middle class alike, as they await potential boosts and tax reliefs from Finance Minister Nirmala Sitharaman. As the first budget of this new … Read more
With the deadline of July 31 to file income tax return (ITR) approaching fast, taxpayers are expected to be scurrying around to arrange the information required to for the return. Although it is advisable to file your tax return as soon as possible, it is not recommended to do it sans proper home work. For … Read more