Tax planning is a critical facet of financial management, focusing on optimizing financial decisions from a tax perspective. Its primary goal is to achieve maximum tax efficiency while complying with…
Not all gifts received are liable to pay tax under Income tax Act 1961. However, the Income Tax Act, 1961 includes key provisions which allow you to receive various tax-exempt…
What is an income tax return (ITR)? Who is required to file ITR ? !! Filing a Return of Income is the process of reporting your income, deductions, and tax…
Increase the rebate limit to Rs.7 lakh in the new tax regime. Thus,persons in the new tax regime, with income up to Rs 7 lakh will not have to pay…
