The calculator then processes these inputs and provides an estimate of the amount of income tax owed. How to Use the Tax Calculator for FY 2024-25? You have follow the steps given below to figure out the tax payable on your income for FY 2024-25 or AY 2025-26: Step 1: Provide ...
This income tax section allows you to deduct medical expenses for yourself or dependent family members. However, a maximum of Rs. 35,000 can be claimed as an income tax deduction under Section 80D. This includes a maximum of Rs. 25,000 for self and dependent family members, as well as R...
The deadline to submit your income tax return for 2024-25 has been extended to November 15, 2024, for audit cases. Read Circular The CBDT department has decided to replace the Excel and Java Versions of ITR Utilities with the JSON Utility for ITR-1 & ITR-4, which will be applicable fo...
Hiding trading activity from the Income Tax department could mean trouble. The chances of getting a call for scrutiny are higher when the IT department systems/algorithms pick up trading activity on your PAN, but the same not declared on your ITR. IT scrutiny is when the assessing income tax ...
FY 2015-6 assessment year is AY 2016-17. Income Tax return forms(physical and excel) of AY 2016-17 and AY 2015-16 are different,. A revised return for the correct assessment year needs to be filed usingthat year ITR Form. Please use correct year Excel/Java Utility/Prefilled ITR only....
How to Use Income Tax Calculator Online for FY 2024-25 & AY 2025-26? You firstly would need to enter your birth details. 1 Further ahead, there will be sections that would require information about your income details such as: Basic salary ...