If you’re filing your Income Tax Return (ITR) for the financial year 2024–25, here new changes—explained in simple terms. 📆 ITR Filing Deadline Extended 🧮 New Income Tax Slabs (Default Regime) The New Regime is now the default tax structure unless you choose the old one. Here’s the slab structure:http://incometax.gov.in/iec/foportal/help/individual/return-applicable-1#taxslabs Income (₹) Tax Rate 0 … Read more
If you get a Notice u/s 148 from the Income Tax Department? This notice is sent when income is not reported correctly, or Income Tax Return (ITR) is not filed, and the department has information that your income has escaped assessment. In this blog, we’ll explain: ✅ What is a Notice under Section 148✅ Reasons … Read more
In financial year 2024–25, if you are a salaried person, freelancer, content creator, or small business owner, the Indian Income Tax Act offers several smart ways to reduce your tax. 🔍 New vs. Old Tax Regime – Which One to Choose in FY 2024–25? In India there is two tax regimes: ✅ Old Regime (with … Read more
1. Tax Incentives for Electric Vehicles (EVs) Electric vehicles (EVs) play a vital role in reducing India’s dependence on fossil fuels and cutting down harmful emissions. To encourage more people to buy EVs, the government offers several tax benefits. Here’s how you can benefit: A. Section 80EEB: Deduction on EV Loan Interest B. FAME India … Read more