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Financial knowledge Indian Tax slabs Income tax slabs categorize taxpayers based on their annual income, determining the applicable tax rates. Here's a breakdown: 1. Nil Tax: Annual income up to ₹2.5 lakh for individuals below 60 years. 2. 5% Tax: I

Key Things To do Before 31st March 2024 1 Invest in Tax Saving options Those who have opted for old tax regime must invest in tax saving options like ELSS MFs, Tax saver FDs, Life Insuarnace, PPF etc to claim deductions u/s 80C of the income ta

Happiness is: Getting approached by your crush ❌ Receiving your income tax refund after filing ITR ✅ PS: File your ITR before the month end guys 🙃

Income Tax Return Filing When tax liability rises due to the receipt of arrears or additional payments, it typically happens because these amounts are added to the individual’s total income for the current financial year. This increase in incom

Income Tax Old Regime vs New Regime All individuals should calculate their income according to both the old regime and the new regime. Thereafter, they should choose the scheme that results in lower taxes.

Greetings everyone! Let's learn about our tax system! The Indian tax system is divided into two categories: Direct (income tax) and Indirect (GST)it's an unfair tax tbh. It's because everyone pays the same tax regardless of their income. For example

Dear Companies, This is a reminder that the due date for filing the Tax Deducted at Source (TDS) return for Quarter 4 (January to March) is 31st May 2024. Please ensure proper submission of your TDS return. Dear Individuals, Ensure that your TDS d

PAN Card The PAN (Permanent Account Number) card is a ten-digit alphanumeric identifier issued by the Income Tax Department of India. It's crucial for various financial transactions such as opening a bank account, filing income tax returns, and buyin

Greetings everyone! So in a previous post, I spoke about the tax system let's take a deep dive into it! India follows a progressive taxation system, i.e. tax is imposed on their income, but this isn't fair, especially for paid employees! It's becau

After a long time. Back to Reality: The Budget's Hidden Cost "Hidden Costs of the New Tax Regime" Everyone's talking about the lower tax slabs in the new income tax regime. But has anyone considered the long-term implications? By drastically redu