Use our income tax calculator to calculate tax payable on your income for FY 2024-25 (old tax regime vs new tax regime), FY 2023-24, and FY 2022-23. Get accurate results in just a few simple steps! 1Basic details 2Income details ...
Under the Indian income tax laws, each taxpayer is charged a different rate according to the tax slab that they come under. On the other hand, companies and firms have a fixed taxation rate charged on the profit earned during a fiscal year. For this reason, the income earned by people is...
ParticularsNew Tax Regime for FY 2022-23 New Tax Regime for FY 2023-24 Rebate eligibility up to income levelRs. 5,00,000Rs. 7,00,000 Rebate u/s 87ARs.12,500Rs.25,000 Standard DeductionNoRs. 50,000 Effective Tax-Free Salary incomeRs. 5,00,000Rs. 7,50,000 ...
Like any salaried income, freelance income is also taxable as per the applicable tax slab for freelancers. One of the top-tier benefits that freelancers get in their tax payments is the permit to deduct their freelancer expenses from freelancers’ income. Depending on the income of the freelancer...
If a I paid a single premium of 40,000 in 2005 for 10 year and U got 120,000 in 2015. Insurance company has already deducted 2% TDS. My income comes under 30% tax slab. My Form 26AS shows credit of full 120,000 . I should pay rest 28% tax on whole 120,000 or 80,000 (toa...
Avoid Mistakes While submitting ITR’s For AY24 Despite the fact that ITR e-filing has been enabled, Income tax taxpayers are able to start filing their income tax returns for FY 2022-23 (or AY 2023-24). If you are doing the ITR on your own, there are a few pitfalls ... INCOME ...