E-PaperTax Return News
Avoiding TDS: What are 15G/15H forms? Who needs them and why?
15G is a mandatory form and EPF subscribers must fill them to avoid paying the TDS if they are withdrawing over ₹50,000. FD depositors are also meant to fill this form to avoid paying TDS when their interest income is less than ₹40,000
2 min read17 Apr 2024How to calculate income tax benefits on home loan EMIs — explained
Income tax benefits for home loans include deductions under Section 80C for principal repayment up to ₹1.50 lakh and under Section 24(b) for interest paid
4 min read16 Apr 2024No home loan or HRA? The old tax scheme may not be right for you
For incomes up to ₹7.5 lakh, the new tax regime is the clear choice, offering a rebate after ₹50,000 deduction.
6 min read16 Apr 2024Income-Tax Department clarifies amended India-Mauritius Tax Treaty not yet ratified, notified
In March 2024, India and Mauritius signed an amendment to the double taxation avoidance agreement. The clarification comes after there were concerns that foreign portfolio funds routing through the island nation to India would face increased scrutiny by tax authorities.
2 min read13 Apr 2024I-T department sets April 30 deadline for approving refunds: Report
Last month, the income tax department said refunds amount to over ₹3.36-lakh crore issued in the FY24 till March 17 against the refunds amounting to ₹2.98-lakh crore during the same period in fiscal 2023
2 min read12 Apr 2024Income tax return: 4 surprising tax saving tips hidden in Section 80
Discover these lesser-known tax-saving tips beyond Section 80C investments, including Section 80GG for rent, Section 80D for medical insurance, and Section 80CCD(1B) for NPS contributions.
1 min read10 Apr 2024Income Tax Return: 5 lesser-known tax-saving tips from Section 80
Explore lesser known tax saving tips beyond Section 80C investments like PPF and ELSS, such as Section 80GG for rent expenses, Section 80D for medical insurance premiums, and Section 80CCD(1B) for NPS contributions.
4 min read9 Apr 2024Income tax returns: ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing
Income Tax department releases e-filing versions of ITR-1, ITR-2, and ITR-4 for FY 2023-24. Deadline for filing ITRs is July 31, 2024. Online and offline tools available for filing returns. Various ITR forms cater to different taxpayers' needs and situations.
5 min read4 Apr 2024Income tax slabs FY 2024-25: Five tips to help taxpayers decide between old and new income tax regimes
Income tax slabs FY 2024-25: With the new financial year starting, salaried individuals must decide between old and new tax regimes. The default option is now the new regime, with different rates and deductions
2 min read7 Apr 2024Has your income tax slab changed from today? Finance Ministry says this...
Finance Ministry clarifies no new tax changes from April 1, 2024. Taxpayers can opt for old or new regime based on preferences
2 min read3 Apr 2024Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared