Income Tax

Budget 2024 sees no change in income tax slabs. Here’s why

In her Budget speech, Finance Minister Nirmala Sitharaman announced that there would be no changes in income tax slab rates, disappointing the salaried class of the country. Her announcement is keeping with the convention of interim budgets

Income Tax dept notifies rules for valuing rent-free accommodation, boosting take-home salaries for employees

The Central Board of Direct Taxes has notified amendments to the Income Tax Rules which will come into effect from September 1.

Bengaluru man's online outburst for paying '50% of income as tax' sparks debate

Identified as Sanchit Goyal, the man currently works as a category manager for the e-commerce company Flipkart. His online outburst highlighted the pressure of paying taxes

Tips for hassle-free Income Tax Return filing

It's common for people to make mistakes or provide incorrect information about their income when filing their tax returns. That's why it's highly recommended to compare the income you declared in your tax return with the details mentioned in Form 26AS.

Income Tax Refund: Easy steps to check your ITR status and get money back

The income tax refund process is quite simple. After you file your tax returns and confirm them electronically or by sending a physical copy of the ITR-V acknowledgement, the refund process begins.

ITR Filing: Essential inclusions for HRA tax exemption in rent agreement

In addition to possessing a rent agreement for claiming the HRA tax benefit, it is crucial for individuals to also collect rent receipts, as per the officials

Income tax return filing: ITR 1, 4 forms for FY 2022-23 now available online

The deadline for filing ITR for salaried individuals and non-auditable taxpayers is 31 July 2023, unless the government decides to extend the deadline

Income Tax Return Filing: Should you file your returns online or offline?

Filing your ITR online provides the advantage of having a digital record of your tax return, ensuring convenient accessibility and retrieval whenever necessary

ITR 2 form now available for individuals, HUFs; know details about filing return

When you are preparing to file your income tax return using ITR 2, there are specific documents that you should collect

Choosing old tax regime can help you claim HRA exemption from taxes; here's how

Check this space to know in detail how employees can claim an exemption from taxes on House Rent Allowance