• By It is mandatory to choose between the old and new tax regime while filing the online form --- with specific exemptions and deductions available for individuals.
• 2025-04-24

Learn More

• By Taxpayers will soon be able to file their returns for FY25 via the official Income Tax Department website.
• 2025-04-22

Learn More

• By Old tax regime, however, still offers taxpayers a range of options to save taxes through various eligible deductions and exemptions post 2025 Union Budget. On the other hand, the new tax regime has a fewer deductions available for taxpayers compared to the old regime. In this write-up, we will discuss various deductions available under the new tax regime for the purpose of tax saving.
• 2025-04-22

Learn More

• By An individual resident who is 60 years or above in age but less than 80 years at any time during the previous year is considered a senior citizen for income tax purposes. The Income Tax department also defines people above the age of 80 as 'super senior citizens'.
• 2025-04-21

Learn More

• By You don't need Rs 10 crore or Rs 50 crore for financial freedom — just calculate your expenses and aim for the right amount using the 4% rule.
• 2025-04-19

Learn More

• By Section 115BAC of the Income Tax Act lays down the tax slabs and rules applicable under the new tax regime.
• 2025-04-18

Learn More

• By It is not necessary to attach any documents while filing your returns. However the details given in various documents will have to be used while filling up the online form.
• 2025-04-17

Learn More

• By Under section 269ST of the Income Tax Act, receiving more than Rs 2 lakh in cash is prohibited, whether it is a single transaction or the sum of many transactions on the same occasion.
• 2025-04-16

Learn More

• By Those filing their returns for the first time must also choose between two tax regimes (with different deduction amounts) and link their PAN and Aadhaar cards in order to enable electronic verification.
• 2025-04-15

Learn More

• By The filing of income tax return (ITR) is compulsory for those individuals whose annual income is above the basic exemption limit. According to the Old Tax Regime, the basic exemption limit is still Rs 2.5 lakh for general taxpayers under 60 years of age.
• 2025-04-07

Learn More

• By The Income Tax Department has launched a new Excel-based utility version of ITR-2 to make filing easier. This form is designed for individuals and Hindu Undivided Families (HUFs) who do not have any business or professional income.
• 2025-04-03

Learn More

• By File your updated Income Tax Return (ITR-U) before March 31, 2025, to correct omissions or errors and avoid penalties. Learn more about filing, deadlines, and additional tax liabilities.
• 2025-03-29

Learn More

• By Term insurance plays the vital role of a safety net and ensures one's loved ones are protected in the absence of the primary bread earner.
• 2025-03-26

Learn More

• By While pre-existing medical conditions may lead to premium loading or coverage restrictions, being transparent about one’s medical history is essential to avoid claim denials later.
• 2025-03-25

Learn More

• By Understanding the pros and cons of each option ensures you make a strategic decision that aligns with your financial future.
• 2025-03-17

Learn More

• By Starting January 2025, lenders must update credit records every 15 days instead of once a month. As a result, financial activities will appear on your credit report sooner.
• 2025-03-03

Learn More

• By If you are availing exemptions or deductions under the old tax regime, the new tax regime may lead to a higher tax outgo.
• 2025-03-02

Learn More

• By We take a look at some common insurance mistakes which you must avoid to ensure your insurance truly safeguards your financial well-being.
• 2025-03-01

Learn More

• By The CBDT circular has been issued on 20 February 2025, and it will be applicable to the tax returns of the financial year 2024-25 (i.e. assessment year 2025-26).
• 2025-02-27

Learn More

• By The concept of Previous Year and Assessment Year, thus, were creating confusion in the minds of taxpayers as they represented two different years.
• 2025-02-18

Learn More

• By The Income Tax Bill 2025 has several aspects to be considered by the Non-Resident Indians as Clauses replace Sections.
• 2025-02-14

Learn More

• By The essence of the Bill remains the same and the existing tax base, tax rates, computation mechanism etc. have been largely unchanged.
• 2025-02-14

Learn More

• By The new income tax law will replace the existing Income Tax Act of 1961. The tax Bill is being brought to make the tax process simple and clear.
• 2025-02-06

Learn More

• By Old Vs New Tax Regime: For individuals earning Rs 15 lakh annually, opting for the old tax regime can result in tax savings of up to Rs 48,100, provided they maximize deductions like HRA, 80C, 80D, and home loan benefits.
• 2025-02-05

Learn More

• By Among the most significant announcements was the introduction of a New Income Tax Bill, set to be tabled this week
• 2025-02-05

Learn More

• By The revised tax structure also introduces a 25% tax slab for incomes between Rs 20 lakh and Rs 24 lakh.
• 2025-02-05

Learn More

• By The new structure will significantly enhance the accessibility of the middle class by leaving them with more disposable income.
• 2025-02-04

Learn More