The mobile app will facilitate taxpayers to view their information as available in the Annual Information Statement (AIS)/ Taxpayer Information Summary (TIS)
Information such as income from the transfer of virtual digital assets, date of acquisitions, date of transfer, cost of acquisition in case of a gift, etc, are to be disclosed under a new section for ITR 2023-24
Section 80C provides for payers to reduce their taxable income annually up to a limit of INR 1.5 lakh. Here are six tax-saving investment schemes which not only decrease your tax but help in wealth generation
The cuts come amid high inflation and economic uncertainty.
Although Florida is one of the few states that has no income tax, high prices for insurance, housing and healthcare could mean that residents don't save as much as they think.
These 9 States Have No Income Tax — But Are They Better or Worse For Your Finances? Here's Everything You Need to Know.
Does your state require income tax? Discover everything you need to know about nine states with no income tax in this detailed guide.
More and more small businesses now have nexus in multiple states without even knowing, and it's exposing business owners to taxes across state lines.
To drive greater penetration in metro cities and non-metros, insurance policy purchases should be sweetened via tax-saving options
As per CBDT, the improved Form 26AS will include some of the high-value transactions done by a taxpayer in a financial year
Out of the total 5.78 crore individuals who filed tax returns in financial year 2018-19, about 4.32 crore individuals reported income below INR 5 lakh
The new tax regime is expected to result in more tax outgo for lower salary incomes and impact savings but on the contrary it can benefit senior citizens and non-salaried individuals
Rejigging of tax slabs appears a welcome move at first however, it is important to look closely into the implications of forgoing your deductions u/s 80C, 80D, 8024(b) etc
While it is expected that the Budget's focus is going to be on measures that can revive the struggling economy, a focus on more investment in information technology is required
#RoadforStartups: CBDT Announces Assessment Plans to Balance the Tightening of Noose around Start-ups
CBDT All Set to Tighten the Noose around Start-ups Based on a Three-Category Assessment Plan