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Salaried individuals earning up to Rs 12 lakh may soon no longer need old-regime deductions, as the new tax system offers near-zero tax. If you are a salaried employee earning up to Rs 12 lakh annually, this year might be the last time you benefit from deductions under the old tax regime. Starting from the next financial year (FY 2025-26 / AY 2026-27), the new tax regime will make income up to Rs 12 lakh almost tax-free, reducing the need for old-regime tax planning. Currently, you still have ...Read More >
New Delhi, Aug 3 (SocialNews.XYZ) Railway Minister Ashwini Vaishnaw on Sunday said that India's first bullet train between Mumbai and Ahmedabad will commence operations "very soon," and it will reduce travel time between the two cities to just 2 hours and 7 minutes. Talking to reporters at the Bhavnagar terminus in Gujarat, after virtually flagging off three trains: the Ayodhya Express, Rewa-Pune Express, and Jabalpur-Raipur Express, Vaishnaw stated that the bullet train project is moving quick ...Read More >
New Delhi: Good news for taxpayers! The ITR filing deadline has been extended to September 15, giving you more time to make smart tax decisions. One key choice is picking between the old and new tax regime. If you're a salaried employee or a pensioner with no business income, you can easily switch between the two each year while filing your return, just by selecting the right option in your ITR form. If you earn income from a business or profession, switching tax regimes comes with stricter rul ...Read More >
New Delhi, August 3: With the income tax return (ITR) filing date extended to September 15, taxpayers have more time to decide whether to choose the old or new tax regime. Salaried employees or pensioners without business income can change their tax regime at any time prior to filing their ITR every year by simply selecting the relevant option on the ITR-1 or ITR-2 form. With commercial or professional income, the regulations are stricter. Only once in your lifetime may you return to the old ta ...Read More >
New Delhi, Aug 3 (SocialNews.XYZ) With the income tax return (ITR) filing date extended to September 15, taxpayers have more time to decide whether to choose the old or new tax regime. Salaried employees or pensioners without business income can change their tax regime at any time prior to filing their ITR every year by simply selecting the relevant option on the ITR-1 or ITR-2 form. With commercial or professional income, the regulations are stricter. Only once in your lifetime may you return ...Read More >
New Delhi: India's tax administration has undergone a dramatic transformation over the past decade, with taxpayer refunds growing at nearly twice the pace of tax collections, sources from the Ministry of Finance told ANI. The data highlights significant gains in administrative efficiency. Between FY 2013-14 and FY 2024-25, refunds issued to taxpayers surged by 474%, rising from ₹83,008 crore to ₹4,76,743 crore. This increase far outpaces the 274% growth in gross direct tax collections during th ...Read More >
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