New Delhi: Choosing the right tax regime is crucial from the perspective of tax planning for taxpayers who are in employment. The choice between opting for new and old tax regime depends specifically on each individual’s salary bracket and his/her investment and other commitments eligible for deductions. Two people with the same salary might have…
New Delhi: In a bid to make income tax filing easier for taxpayers, the Income Tax DEpartment has introduced pre-filled ITR forms on the e-filing portal. This feature has been available for several years and aims to simplify the process by automatically filling in key financial details sourced from banks, Aadhaar and other institutions.// E-filing…
New Delhi: The New Tax Regime, introduced couple of years ago by Finance Minister Nirmala Sitharaman, entitled salaried individuals for a lower rate of tax. The rider, however, was that the individuals did not take the benefit of certain deductions and exemptions. New Tax Regime: HRA Deductions Not Available The new tax regime under Section…
