Sabka Vishwaas scheme deadline extended till June 30
The government has extended most tax compliance deadlines for individuals to June 30, 20...
Belated I-T returns for FY 18-19 deadline extended to June 30, 2020
In a good news for individuals, the government has decied to extend the d...
How to know which income tax slab you fall in?
As your income level increases, income at different levels or in different bands will be tax...
Income tax benefits on EPF contributions: New vs existing tax regime
In the new tax regime, the tax benefit available on employee's own contribution to EPF account is impacted.
New tax regime and other tax changes that will come into effect from April 1
The government via a press release dated March 30, 2020, has clarified that there is no extension of the financial year. Here is a look at seven new tax rules that will come into effect from the new financial year, i.e. April 1, 2020.
New income tax slabs: Will you gain by switching to new regime?
The budget has proposed an alternate income tax structure. Find out whether you will benefit or not.
These I-T sections will allow you save tax via life, health insurance using existing tax regime
Although it is advised not to use insurance solely for the purpose of tax saving, under the existing regime there are various tax sops that allow you to save tax via life and health insurance.
Impact of proposed new income tax rates on a Rs 15 lakh salary
If an individual earning Rs 15 lakh is wondering which tax structure will be more beneficial, then he/she can figure out the same by calculating the total amount of deductions that he/she is claiming in a financial year.
Coronavirus impact: Donation to PM CARES Fund eligible for 100% tax deduction
The date for making various investment/payment for claiming deduction under Chapter-VIA-B of the I-T Act, which includes section 80C (LIC, PPF, NSC, etc), 80D (mediclaim), 80G (donations), has been extended to June 30, 2020.
Impact of proposed new income tax rates on a Rs 20 lakh salary
Here is how much total deductions and tax-exemptions a person with Rs 20 lakh total salary income in a financial year should claim so that his/her tax-liability remains the same in both tax structures.
Budget 2020: ET Money explains the Income tax slab changes
Finance Minister Nirmala Sitharaman, presenting her second budget in Parliament, on Saturday slashed income tax for individuals, abolished d...
Tax saving deadline extended for FY2019-20: Here's how it impacts you
The government has extended the last date for tax saving for FY2019-20 from March 31, 2020 to June 30, 2020.
Six income tax slabs in, 70 exemptions out: Impact on taxpayers
Salaried taxpayers who opt for the new regime will have to forgo the standard deduction as well as exemptions under chapter VI-A, including HRA, investments under 80C, medical insurance premium, even LTA.
Comparison of new income tax regime with old tax regime
Based on an example, it is evident that maximum benefit in terms of tax savings that can be availed under the new regime (in case no investments are made) is Rs 75,000. The highest tax rate, i.e. 42.7%, will continue to be a major challenge for HNIs.
Tax optimiser: Desai can cut tax outgo by Rs 66,000 via NPS, perks
ET Wealth tells readers how they can optimise their tax by rejigging their income and investments.
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