Page 24 of Taxation

Attention Taxpayers! Income Tax Department warns against false claims in income tax returns

The Income Tax Department has issued a strong advisory to taxpayers, advising them against submitting income tax returns with inaccurate…

July 6, 2024 09:49 IST

Tax Relief on Health Insurance: Soaring medical costs prompt calls for higher Section 80D limit in Budget 2024

Under Section 80D of the Income Tax Act, 1961, individuals and Hindu Undivided Families (HUF) get tax deduction benefits for…

July 4, 2024 15:03 IST

Budget 2024: Will technology be leveraged to improve tax administration and compliance?

The adoption of technology may enable successful and sustainable tax reforms, ensure the proper taxation of digital economy, and reduce…

July 3, 2024 19:34 IST

Filing ITR for first time? 10 tips for smooth income tax returns

All ITR forms contain different set of requirements that qualify various types of taxpayers based on their profiles. Choosing a…

July 3, 2024 12:09 IST

How to file ITR online – Steps for e-filing income tax return

In order to file a tax return online, you can access the new income tax portal logging in with PAN-based…

July 2, 2024 12:02 IST

Surprising Tax Exemptions: THESE individuals are free from tax liability!

Surprising Tax Exemptions: THESE individuals are free from income tax liability!

Under the Income Tax Act’s Section 10(26), members of scheduled tribes living in specific states get exemption from paying taxes.…

July 1, 2024 10:39 IST

Tax-Saving Tips for Small Business Owners: Steps for maximizing tax returns and minimizing liabilities

Effective tax preparation is critical for small business owners seeking to maximise revenues while minimizing liabilities.

June 27, 2024 12:38 IST

Calls for wealth tax on ultra-rich rise: Who qualifies as super-rich in India, by the way?

G20 finance ministers will next month discuss a proposal to impose a wealth tax on the super-rich globally. The matter…

June 27, 2024 11:14 IST

ITR Filing: Eligibility and Procedure for switching between Old and New Tax Regimes

ITR Filing for FY2023-24: Eligibility and Procedure for switching between Old and New Tax Regimes

The new tax regime was made the ‘default tax regime’ with effect from the Financial Year 2023-24.

June 27, 2024 09:30 IST

ITR Filing: What is ‘NIL’ tax return and when should you file one?

Under Section 139(1) of the Income-tax Act, 1961, those with income below the basic exemption limit are exempt from filing…

June 26, 2024 12:05 IST

Income Tax Return: How to choose correct ITR form for tax filing

There are 7 ITR forms the Income Tax Department has notified, and often, taxpayers get confused which ITR form is…

June 25, 2024 12:07 IST

6 ways to save tax without making any investment

There are several provisions in the Income Tax Act, 1961, that allow individuals to save tax on expenses incurred by…

June 25, 2024 12:04 IST

Lottery-like taxation: Fear grips F&O traders as 30% tax likely on transactions in budget

The Modi government is likely to consider reclassifying futures and options transactions from ‘business income’ to ‘speculative income’ and this…

June 24, 2024 10:49 IST

GST, GST Day, indirect taxes, State Governments, Central Government, FMCG, pharma industry, IT industry, registration, logistics, Media and Entertainment, GST council

GST: A seven-year retrospect and impact on personal finances

While the introduction of GST has generally resulted in reduced effective tax rates on most of the daily use products,…

June 22, 2024 12:21 IST

Filing ITR? Use 3 smart ways to save tax on your stock market profits

Tax loss harvesting is one of the most popular ways deployed by investors and traders in the stock markets to…

June 21, 2024 17:49 IST

ITR Filing: 10 things you need to know before filing income tax return

As a taxpayer, you must ensure that all guidelines and rules to ensure compliance with tax laws are followed while…

June 21, 2024 15:11 IST

Income Tax Return: Filing wrong ITR form may cost you dearly - Key changes you must know

Income Tax Return: Filing wrong ITR form may cost you dearly – 5 key changes you must know

The last date to file Income Tax Return is July 31, and but taxpayers should not wait until the last…

June 21, 2024 12:08 IST

Forget basic tax exemption limit! Got electricity bills of more than Rs 1 lakh? You have to file ITR

Forget basic exemption limit! Got electricity bills of more than Rs 1 lakh? You have to file ITR

One must file an ITR if he or she has paid electricity bills of more than Rs 1 lakh in…

June 20, 2024 17:05 IST

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Modi pushes ‘Make in India’ into the digital age

Industry14 min ago

0 technologies

PM Modi urges investment and innovation in India, highlighting its democratic setup, investor-friendly policies, and digital capabilities. Government efforts to accelerate reforms and promote manufacturing and innovation were emphasized. India’s potential as a semiconductor hub and progress in telecom and digital sectors, making it a leader in 4.0 technologies, were also praised.

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