Section 115BAC of the Income Tax Act: Tax Slabs and Rules Introduction Section 115BAC of the Income Tax Act, 1961 governed the new tax regime for individuals and certain other eligible taxpayers for income earned up to 31 March 2026. […]
Recent Changes in Form 26AS: What Taxpayers Need to Know Introduction Among the recent changes in Form 26AS, one of the most significant updates is its renaming as Form 168 under the Income Tax Act 2025, effective from 1 April […]
Income Tax Rates Slab for FY 2022-23 (AY 2023-24) Every year, after the budget it is necessary to check whether there is any change in the Income Tax Rates in India. Well, this year as well the Finance Ministry has […]
Know who should file income tax returns for FY 2021-22. Understand if you are liable to file the return. Income Tax Department has notified 7 various forms up till now i.e. Form ITR 1 to ITR 7 for filing Income […]
A guide to the Taxpayer – What is Professional Tax? And Who is eligible to pay Professional Tax Rate? Many salaried employees in India are unsure what is a Professional Tax? And why does it appear as a deduction from […]
Section 80C of the Income Tax Act: Limit and Eligible Investments Introduction Section 80C of the Income Tax Act is a widely used tax-saving provision for individuals and HUFs. It allows deductions for eligible investments and expenses such as provident […]
TDS Return Form 26Q: Due Dates, Filing Process and Penalty Introduction TDS Return Form 26Q is a quarterly statement used to report tax deducted from non-salary payments made to resident persons. When a person makes certain specified payments, Tax Deducted […]
Section 269ST of the Income Tax Act,1961: Cash Limit and Penalty Introduction Section 269ST of the Income Tax Act was introduced to restrict high-value cash receipts and improve the traceability of financial transactions. Under the Income tax Act, 1961, it […]
Section 80G of the Income Tax Act,1961: Deduction Rules and Limits Introduction Section 80G of the Income Tax Act allows taxpayers to claim a deduction for donations made to specified funds, charitable institutions and approved organizations. It encourages charitable giving […]
