Income Tax Returns: Exemptions and deductions that are still allowed under new tax regime

Income Tax Returns: Exemptions and deductions that are still allowed under new tax regime

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

Income Tax Returns: What is your default regime— old or new? Key things you should know before filing ITR

Income Tax Returns: What is your default regime— old or new? Key things you should know before filing ITR

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

Income Tax exemption: Financial instruments you can still invest into before Mar 31 deadline

Income Tax exemption: Financial instruments you can still invest into before Mar 31 deadline

With fewer than 48 hours to go before the financial year draws its curtains, investors are rushing to invest into a plethora of investment options in order to save their income tax for fiscal 2023-24. There is no denying the fact that most investment options, particularly the ones in equity have already become unfeasible from … Read more

Income Tax: Invest before March 31 in these tax saving instruments to avail exemption

Income Tax: Invest before March 31 in these tax saving instruments to avail exemption

If you want to save income tax for the investments made in this financial year (2023-24), do not forget to invest before March 31 this year. With only a few days remaining in this financial year, taxpayers are urged to invest as soon as they can. Meanwhile, RBI has told all agency banks dealing with … Read more