[ad_1] HRA tax exemption rules: House Rent Allowance (HRA) is a common component of many employees’ salary packages. Unlike basic salary, HRA isn’t entirely taxable, subject to specific conditions outlined in Section 10(13A) of the Income-tax Act, 1961.The exemption on HRA reduces the taxable portion of an employee’s income, thus …
Read More »Tag Archives: income tax
New income tax return forms ITR-1, ITR-2, ITR-4 available for FY 2023-24; know details AY 2024-25 e-filing | Business – Times of India
[ad_1] ITR filing forms for FY 2023-24: The Income Tax Department has made the online tax return forms, ITR-1, ITR-2, and ITR-4, available for FY 2023-24 (AY 2024-25) on the income tax e-filing portal starting April 1, 2024. This means eligible taxpayers can now file their tax returns for FY …
Read More »Latest Sukanya Samriddhi Yojana interest rate: What you need to know for April-June 2024 quarter | Business – Times of India
[ad_1] Sukanya Samriddhi Yojana interest rate April-June 2024: The Sukanya Samriddhi Yojana Account (SSA) aims to secure a bright future for your girl child and promote her welfare. The government revises the interest rate on the Sukanya Samriddhi Yojana (SSY) every quarter. Interest rate update for April-June 2024 quarter The …
Read More »Direct Tax Collection Grows 20 Pc to Rs 18.90 Lakh Cr Till Mar 17 – News18
[ad_1] Last Updated: March 19, 2024, 21:15 IST On a gross basis, before adjusting refunds, the direct tax collection stood at Rs 22.27 lakh crore. (Representative Image) On a gross basis, before adjusting refunds, the direct tax collection stood at Rs 22.27 lakh crore, an 18.74 per cent growth over …
Read More »Income Tax Alert! Last Advance Tax Instalment Deadline March 15; Know How To File – News18
[ad_1] Last Updated: March 15, 2024, 12:43 IST Advance tax: Last instalment deadline on March 15 Missing the payment deadline would mean the taxpayers will be liable to penalties under Sections 234B and 243C. Income tax alert: March 15 is the due date to pay advance tax. Taxpayers should carefully …
Read More »Advance Income Tax Deadline Today: Check What It Is, Who Needs To Pay, & How To Pay
[ad_1] New Delhi: Today, March 15, 2024, marks the final call for taxpayers across India to settle their fourth and last installment of advance tax for the financial year 2023-24. If you miss this important deadline, it could lead to hefty penalties and interest charges as per the norms. Read on …
Read More »How a fake number landed UAE fund in tax soup – Times of India
[ad_1] MUMBAI: What’s in a number? Well, a fictitious mobile number ‘9999999999’ that was entered by Abu Dhabi Investment Authority to enable it to upload its income tax return on the portal, led to I-T authorities doubting the veracity of this entity. Consequently, the commissioner (appeals) upheld tax at 20% …
Read More »Government releases 2 tranches of tax devolution – Times of India
[ad_1] NEW DELHI: Government has authorised release of two installments of tax devolution amounting to Rs. 1.4 lakh crore on Thursday to strengthen hands of state governments for financing various social welfare measures and infrastructure development schemes. This release is in addition to tax devolution of an installment of Rs …
Read More »Income tax filers drop 35% | The Express Tribune
[ad_1] ISLAMABAD: The interim government has failed to broaden the tax base, with the number of income tax return filers shrinking 35% to just under 3.9 million compared to last year, amid challenges to achieve monthly tax collection targets. The caretaker government, whose rule has now effectively ended with the …
Read More »Invested in Sovereign Gold Bonds? SGBs offer tax-free early redemption within 21-day annual window; here’s how it works | India Business News – Times of India
[ad_1] Sovereign Gold Bonds: Investing in Sovereign Gold Bonds (SGBs) can be beneficial for individual investors seeking to protect their savings with gold. If the need arises to cash out prematurely, investors can do so without facing income tax on their gains. The premature redemption window opens for 21 days. …
Read More »