Revised New Tax Regime from AY 2024-25Tax rebate on an income of up to ₹7 lakhs has been introduced under the new tax regime. This means that taxpayers with an income of up to ₹7 lakhs can claim all the tax paid(Yes you need to file ITR)! Standard deduction: Salary income:...
The following deductions are available under the new tax regime 2024: Section 24(b) allows for a deduction on interest paid on a home loan for a rented-out property. Employer contribution to NPS under 80CCD (1B) is available upto 14% of salary. Similarly, PPF and Sukanya Samriddhi Yojana...
Annual interest paid on a home loan for self-occupied property Annual interest paid on home loan (while living in rented property) Under the HRA exemptions, mention: Basic salary received – annual Monthly dearness allowance (if it forms part of your income) ...
Tax on Selling Shares Truth of Things Do After Death RSU of MNC, perquisite, tax , Capital gains, ITR, eTrade covers RSU in detail. Is Cryptocurrency banned in India? UAN and Registration of UAN Salary, Net Salary, Gross Salary, Cost to Company All About EPF,EPS,EDLIS, Employee Prov...
Arpit Kulshrestha seeks higher interests in financial services, taxation, GST, I-T, etc. Writes articles with depth knowledge and is extensive for the same. The resources provide effective articles for the products of SAG infotech which provides taxation and IT software. Writing from observations ...
AMOUNT IS DEDUCTED OF TDS ON SALARY-DEDUCTION OF TDS ON SALARY-CBDT CIRCULAR CBDT CIRCULAR CLARIFYING THE PROCESS FOR DEDUCTION CLARIFYING THE METHOD FOR DEDUCTION IN THE EXISTING AND CURRENT SCHEMES OF TAXATION: Income tax Amendment 2020 adopted a revised income tax system for individual taxpayers...
The last date to file ITR for individuals for FY 2023-24 (AY 2024-25) is 31 Jul 2024. Details here Learn Properly How to show Capital Gains on Mutual Funds, Indian Stocks, ESPSs, RSUs of MNCs, Fixed Deposits, Refund, Pay Self Assessment Tax and More How to Capital Gains in ITR for...
Select the assessment year to calculate the tax. For instance, if you are paying tax for FY 2023-24, choose AY 2024-25. 2 Choose your age from the next field. 3 Click on the income field and enter the required details like gross salary, and income from other sources if any. ...
Conversely, if you make a loss on sale of assets, you incur a Capital Loss.Gains, which arise from the transfer of capital assets, are subject to tax under the Income-tax Act.For the purpose of Income Tax, income is classified under the following heads: Salary, Income from house property...
Taxpayers can not only file ITRs but also raise complaints about refunds and other works with the IT Department. Taxpayers can proactively update their profile to provide details of income including salary, house property, business/profession which will be used in pre-filling their ITR. ...