“How Income Tax is Calculated on Salary?”– Navigating the labyrinth of income tax calculation in India, particularly for salaried individuals, can be akin to solving a complex puzzle. Fear not, for it’s a crucial puzzle to unravel in the realm of personal finance. Income Tax Calculator s...
1 Students are paid stipends for pursuing certain academic courses When it self exceeds individuals taxable limit of income whether itr to e filed Whether it is to be subjected to TDS - Income Tax Tax queries
Get to know the rebate on Income is not exceed upto 5 lakh under IT section 87A. Also, we have specified who is eligible for this rebate.
eFile your Income tax return online in minutes. myITreturn ensures accurate efiling of ITR with maximum tax refund. Registered with incometax.gov.in.
49 lakh cases of income tax refunds are pending with the revenue departmentraj kumar makkadPrint this
Get the knowledge about penalties for late income tax return filing. The tax defaulters have to pay up to INR 10,000 and much more to the IT department.
Income Tax Return filing is mandatory for Taxpayers whose income exceeds the prescribed income limit. ITR Filing process is regulated under the Income Tax Act 1961.
Income tax slab Taxable income Tax rate Tax (in ₹) Up to 2.5 lakhs 0 0 0 2.5-5 lakh 250,000 5% 12,500 5-10 lakh 5,00,000 20% 1,00,000 Above 10 lakh 3,90,000 30% 1,17,000 Total Tax (A) 2,29,500 Health and education cess (B) (4% of A) 9,180 Total tax liabil...
DEDUCTION OF TAX AT SOURCE INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 2022-2023 income-tax as per Finance Act, 2022
The Union Budget 2018 also introduced a new 10% tax charged on investments of long-term capital gains in stocks, and equity mutual funds. The new tax law states that all profits exceeding the amount of Rs.1 lakh (from mutual funds and stock markets) will henceforth be taxed a 10% rate...