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CBDT outlines to the FM on how personal income tax zoomed
Finance minister also rooted for a more taxpayer-friendly department by advising the officials for quicker resolution of their grievances and faster d
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Want to secure your future and save tax?
The new tax regime does not provide any deductions and exemptions, whereas the old regime has about 70 of them
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Confused about tax regimes, read on to choose the right one
For tax saving and financial planning to go hand in hand you need to make a blueprint for it
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No additional capital gains tax
Additional tax
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Govertment notifies FY24 Cost Inflation Index
Taxpayers can use the Cost Inflation Index to calculate how much tax they need to pay on sale of immovable assets after adjusting for inflation.
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No income tax on earning up to 7 lakh
This system was introduced in the budget of the year 2020. This regime offers lower tax rates for taxpayers who do not avail rebates and deductions.
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Just a dream: Increasing the 80C limit
Under the section 80C, the amount of maximum tax deduction that one can claim is wholly availed through provident fund contributions
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Income tax refunds worth Rs 1.19 lakh crore issued to 1 crore taxpayers
This also includes refunds of Rs 67.99 lakh of AY 2021-22, which amounted to Rs 13,140.94 crore.
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9 ways to cut your income tax outgo
If you have obtained health insurance for yourself, your spouse, your children, and your parents, you can claim a premium refund of up to Rs 25,000.
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Over 2.38 crore I-T returns filed for 2020-21 fiscal year
Out of this, over 1.68 crore income tax returns (ITRs) have been processed, while refunds have been issued in more than 64 lakh cases
