ITR filing: The zero-tax income threshold has been increased from Rs 7 lakh to Rs 12 lakh. Income Tax Slabs FY 2025-26 after Budget 2025: Finance Minister Nirmala Sitharaman’s big announcement that taxpayers will no longer have to pay tax for income up to Rs 12 lakh from FY 2025-26 onwards has been met with…
Income Tax Return Filing FY 2023-24: For individual taxpayers whose accounts do not need auditing, the last date to file income tax returns (ITRs) for FY 2023–24 (AY 2024–25) is July 31, 2024. Missing this deadline means filing a belated ITR, which comes with penalties and interest. What is the penalty for belated ITR filing?…
Latest income tax slabs FY 2024-25: Finance Minister Nirmala Sitharaman has changed the income tax slabs effective FY 2024-25 under the new income tax regime as announced in Budget 2024. The standard deduction under the new income tax regime has also been hiked from the present Rs 50,000 to Rs 75,000. According to FM Nirmala…
By Surabhi MarwahBudget 2024 income tax expectations: The government is set to table its first full budget after elections and the wish list of taxpayers is as long as ever. This is especially so as the government did not make any key changes in the interim budget as it was a Vote on Account budget….
