100 Days Of Modi 3.0: ITR Exemption Limit To Rs 7L, Hike In Standard Deduction And More –Check Big Govt Decisions | Personal Finance News

New Delhi: In the first 100 days of Prime Minister Narendra Modi’s new term, the government has given further relief to the middle class on the tax savings and pension fronts. The government has raised the income tax exemption limit to Rs 7 lakh. The standard deduction for salaried individuals has been increased to Rs […]

ABHISEK RAJPUT

September 16, 2024

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ITR Processing Time: Why Is Your ITR Still Under Processing In 2024? Here’s How To Track Its Status | Personal Finance News

ITR Processing Time: The tax season for the Assessment Year 2024-25 is almost closed. Many taxpayers are eagerly awaiting their income tax refunds. However, some taxpayers haven’t received their refunds, or their ITR status has been showing as ‘under processing’ for many days. Notably, if ITR is not successfully processed, the income tax refund will […]

ABHISEK RAJPUT

August 26, 2024

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Income Tax Clearance Certificate Mandatory For All Indians? CBDT Clarifies New Rule | Personal Finance News

The income tax return filing season has now entered the penalty phase where those who failed to file their returns by July 31 are now needed to pay fine to fill their returns. The Income Tax Department said earlier this month that timely compliance by taxpayers and tax professionals has led to a significant increase […]

ABHISEK RAJPUT

August 20, 2024

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Net Direct Tax Collection Grows 22 Per Cent To Rs 6.93 Lakh Crore | Economy News

New Delhi: Net direct tax collection grew 22.48 per cent to about Rs 6.93 lakh crore as of August 11 this fiscal, government data showed on Monday. The mop-up includes personal income tax collection of Rs 4.47 lakh crore and corporate tax collection of Rs 2.22 lakh crore. Securities Transaction Tax (STT) mopped up Rs […]

ABHISEK RAJPUT

August 12, 2024

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Income Tax Refund Delay: How Long Will It Take to Get Your Refund And Will You Receive Interest? | Personal Finance News

Income Tax Refund Delay: Despite the multiple requests from tax professionals and individual taxpayers, the Income Tax Department did not extend the Income Tax Return (ITR) deadline for the Assessment Year 2024-25 beyond July 31. Many taxpayers haven’t received the tax refunds yet despite filing well in advance of the deadline.  However, the Income Tax […]

ABHISEK RAJPUT

August 12, 2024

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No Income Tax! Find Out Why Residents Of THIS State Enjoy Complete Tax Exemption | Personal Finance News

Residents of Sikkim have a unique advantage that sets them apart from the rest of India. Unlike other states, Sikkim is exempt from income tax under Section 10 (26AAA) of the Indian Income Tax Act. Why Doesn’t Sikkim Have to Pay Income Tax? When Sikkim merged with India, the government assured the state that it […]

ABHISEK RAJPUT

July 31, 2024

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ITR Penalty Alert: What Happens If You Miss July 31 ITR Deadline Date For FY 2023-24? | Technology News

ITR Penalty: For individual taxpayers whose accounts do not require auditing, the deadline for filing income tax returns (ITRs) for the financial year 2023-24 (the assessment year 2024-25) is July 31, 2024. However, the Income Tax Department has begun sending reminders to taxpayers through emails and SMSes to ensure they meet the ITR filing deadline […]

ABHISEK RAJPUT

July 28, 2024

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Going Abroad? Do You Need Income Tax clearance Certificate– Govt Clarifies | Personal Finance News

New Delhi: The government on Sunday responded to social media outrage over a Budget proposal requiring tax clearance certificates for travelling abroad. They clarified that this new rule is not for everyone and only those accused of financial irregularities or with substantial tax arrears will need to obtain such clearance. In the Finance Bill 2024, […]

ABHISEK RAJPUT

July 28, 2024

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ITR Filing 2024: How To Check Tax Refund Status Online With PAN Card | Refund Timeline Explained | Personal Finance News

Income Tax Refund: In today’s digital age, checking your tax refund status has never been easier. With just your PAN card, you can quickly and efficiently track the status of your tax refund online from the comfort of your home or office. Meanwhile, the process of receiving a refund can often be confusing, especially when […]

ABHISEK RAJPUT

July 28, 2024

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Attention Salaried Taxpayers: Want To Save 100 Percent On Your Income Tax? Watch Tips Shared In Viral Video | Personal Finance News

New Delhi: A man from Karnataka went viral on social media for giving “financial advice” to salaried taxpayers on how to “save 100 percent income tax.” The video emerged a few days after Finance Minister Nirmala Sitharaman announced the Union Budget 2024, which quickly became the subject of many jokes and memes online. Content creator […]

ABHISEK RAJPUT

July 27, 2024

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New Simplified Income Tax Law To Be Put Out For Stakeholder Consultation Soon | Personal Finance News

New Delhi: The government is working towards a comprehensive review of the Income Tax Act, and the first draft which will be prepared by an internal committee of the tax department will be put out for stakeholder consultation within the next 6 months, Revenue Secretary Sanjay Malhotra said on Thursday.  Addressing FICCI’s interactive session on […]

ABHISEK RAJPUT

July 25, 2024

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Budget 2024 For Common Man: From New Tax Rate Structure, Standard Deduction To NPS| 10 Points | Personal Finance News

New Delhi: In line with expectations, Finance Minister Nirmala Sitharaman offered a slew of measures and sops for the common people, who had pinned high hopes from the FM. Here are 10 Key Highlights of Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman in Lok Sabha on Tuesday. 1. Standard Deduction  Standard Deduction in […]

ABHISEK RAJPUT

July 23, 2024

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