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New Tax slab: 0-4L-0% 4-8L-5% 8-12L-10% 12-16L-15% 16-20L-20% 20-24L-25% 24L+30% People with income up to 12L will pay 0% income tax.

Was it a Budget of expectations? The Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman introduced changes to the income tax regime, for salaried employees & those opting for the new tax regime. 1. Standard Deduction Increase: T

Income Tax season is here: Dont forget to claim House Rent Allowance (HRA) deduction given by your company so that you can save a substantial amount of tax.

I won’t waste time on old tax regime for two reasons: -> 70%+ income taxpayers had already switched from it by the end of FY24 -> With what’s announced today, it’s anyway dead. One would have to be a fool to stick with it So, what about the News T

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

The Central Board of Direct Taxes (CBDT) has specified that no tax deduction at source (TDS) under Section 194Q of the Income Tax Act, 1961, will be required for purchases made from units of International Financial Services Centres (IFSC), provided b

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

One Tax Policy: A New Era of Taxation in India? What if income tax was the only tax you had to pay? A system where individuals pay a fixed percentage of their income as tax, and in return, they are exempt from all indirect taxes like GST and service

Hi, Please do not accept the offer from new or revised salary unless you validate with HR Calcy in hand salary calculator. This will even indicate that what will be your take home salary after income tax deduction, help you for a better decision.

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