ITR Filing 2024: Missing July 31 Deadline Will Automatically Shift You To New Tax Regime –Check Details | Personal Finance News

New Delhi: The deadline to file Income Tax Returns (ITR) for the financial year 2023-2024 (Assessment Year 2024-2025) is July 31, 2024. Missing the deadline could mean filing of belated ITR (December 31, 2024) with the required penalty among other formalities. However, tax payers –who want to stay in the Old Tax Regime–should note that […]

ABHISEK RAJPUT

July 4, 2024

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Budget 2024 Highlights On Income Tax: Revised Tax Slab In New Tax Regime | Personal Finance News

New Delhi: Bringing the much needed cheer to the salaried individuals, Finance Minister Nirmala Sitharaman on Tuesday announced revisions in the New Tax Regime. As per FM’s announcement, under new tax regime, tax rate structure will be revised as follows – No tax up to Rs 3 lakh  – 5% tax on income up to […]

ABHISEK RAJPUT

July 23, 2024

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Budget 2024: Has The Budget Failed To Address Concerns Of Middle-Class? Explained | Economy News

New Delhi: Finance Minister Nirmala Sitharaman presented the first budget of Modi 3.0 and middle-class taxpayers were expecting some tax cuts.  Their expectations were genuine because the government got bumper non-tax revenue in the form of dividends from RBI and GST collections are also rising. The central government is no longer under any obligation to […]

ABHISEK RAJPUT

July 24, 2024

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Budget 2024: Rebate Under Section 87A Decreases By Rs 5K As Tax Structure Under New Tax Regime Revised — Understanding The Math | Personal Finance News

New Delhi: Finance Minister Nirmala Sitharaman, presenting the Budget 2024 in Parliament made two significant announcements for the employed people to make for those opting for the New Tax Regime. First, the standard deduction for salaried employees is proposed to be increased from Rs 50,000 to Rs 75,000. Similarly, deduction on family pension for pensioners […]

ABHISEK RAJPUT

July 24, 2024

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Budget Has Given New Incentives To Taxpayers For Filing Tax Returns Under The New Tax Regime | Personal Finance News

New Delhi: The union budget announced yesterday has given additional incentives to taxpayers who choose the new tax regime to file their returns. The finance minister says over two-thirds of the taxpayers have chosen the new tax regime in FY23 to file their tax returns. Under the proposed provisions, if a salaried or a retired […]

ABHISEK RAJPUT

July 24, 2024

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ITR Filing 2024: 7.28 Cr ITRs Filed Till July 31; How Many Taxpayers Chose New Tax Regime? Check | Personal Finance News

New Delhi: The total number of ITRs for AY 2024-25 filed till 31st July, 2024 is more than 7.28 crore, which is 7.5% more than the total ITRs for AY 2023-24 (6.77 crore) filed till 31st July, 2023, said a Ministry of Finance release. The Income Tax Department has meanwhile urged taxpayers, who missed filing […]

ABHISEK RAJPUT

August 2, 2024

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