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 ...
Tax Calculator choose old or new tax regime Video on how to choose old or new Tax slab Choose the old or new tax regime for FY 2022-23 Revised New Tax Regime from AY 2024-25 Tax rebate on an income of up to ₹7 lakhs has been introduced under the new tax regime. This means tha...
A new electronic filing facility is available for new ITR-1 and ITR-4 forms for the FY 2023-24 Calculation of Advance Tax for A.Y. 2024-25 Now you can send any document or PDF file via Whatsapp or e-mail from the Print Preview of Reporter Return Forms, 26AS, Acknowledgment, Computat...
Here is a chart for the new tax regime for FY 2024-25 as per the recent Union Budget announcement: Salary slabNew tax regime 0 - 3 L 0% 3 - 7 L 5% 7 - 10 L 10% 10 - 12 L 15% 12 - 15 L 20% 15 L and above 30% Understanding which tax regime is beneficial for you depe...
Here is a chart for the new tax regime for FY 2024-25 as per the recent Union Budget announcement: Salary slabNew tax regime 0 - 3 L0% 3 - 7 L5% 7 - 10 L10% 10 - 12 L15% 12 - 15 L20% 15 L and above30% Understanding which tax regime is beneficial for you depends on ...
On July 23, 2024, India’s Minister of Finance Nirmala Sitharaman presented the country’s Union Budget for FY 2024–25 in parliament, announcing significant changes to the capital gains tax.On August 6, a follow-up announcement brought clarity on indexation benefits. ...
As per the new income tax regime for FY 2023-24 (AY 2024-25), the rebate under Section 87A has been increased from Rs. 5 lakhs to Rs. 7 lakhs. Thus, individuals with a net taxable income of up to Rs. 7 lakh can avail tax rebate u/s 87A under the new tax regime. Those who...
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He is in the 30% rate slab and he updates his return in May 2022(within 2 years) Then the tax on this undisclosed interest income would be Rs 15,660 penal interest up to April 2022 will be Rs 5,030. (25% of 15,660) The total liability works out to Rs 20,600. Under the ...
Old vs. New Tax Regime: Understanding the Differences For the assessment year 2024-25, individuals and Hindu Undivided Families (HUFs) have to pay taxes under the new tax regime unless they opt for the old regime while filing their return of income before the due date. The new tax regime ...