[ad_1] As only two weeks are left before the deadline to file income tax return (ITR) expires on July 31, taxpayers continue toĀ face glitches on the I-T website. As a result of these glitches, a number of taxpayers are requesting the income tax department on social media for the extension of the deadline. One user,…
[ad_1] Filing an income tax return is easier for individuals who have only one source of income, particularly if it is from salary. Chances are, youāll qualify to use the ITR-1 form, renowned for its straightforward filing process. Additionally, as a salaried individual, your employer should furnish you with Form 16, which includes most of…
[ad_1] Although a range of tax-related changes are introduced every year for taxpayers, a few key changes are āradicalā and occur only once every three or five years. The introduction of the ānew tax regimeā is undoubtedly one such key change that is substantive, and will transform the way income tax is calculated and deductions…
[ad_1] In 2023, new tax regime became a default regime which means the taxpayers must opt out of the new tax regime to be able to claim tax exemptions given under sections 80C, 80D and 80G, among others. The provision under section 80C enables taxpayers to claim deduction for investing in various financial instruments such…
