2023 INCOME TAX SLAB
No benefit of lower tax rate under DTAA for taxpayers with foreign income if Form 67 is not filed by this date
Double tax: If you are claiming a tax relief under section 90 then you must submit a ITR and Form 67 by the due date. Similarly if you are claiming a tax relief under section 91 then also you need to file Form 67 and mention the country code for the country where taxes were paid.
No income tax rebate u/s 87A despite total income below Rs 7 lakh in these cases
Tax rebate: No tax rebate is given if you have long term capital gains (LTCG). However, in some situations even if you filed your ITR carefully and claimed the right deductions still section 87A tax rebate can be denied to you. Read below to know why is this so and when is tax rebate under section 87A given.
How much income tax Thalapathy Vijay paid in 2023-24? Hint: More than Virat Kohli and Salman Khan
Actor-politician Thalapathy Vijay has made a significant advance tax payment of Rs 80 crore in 2023-24, surpassing Bollywood stars Salman Khan and Amitabh Bachchan. His latest film, GOAT, has achieved impressive box office success. Vijay's political ambitions also add to his growing influence as he plans to contest in the 2026 Tamil Nadu Assembly elections.
Received tax refund? You can still file revised ITR by December 31, 2024 for FY 2023-24
Revised ITR: You can file a revised Income Tax Return (ITR) even if your ITR filed by the deadline (original ITR) is processed successfully with or without tax refund. Yes, revised ITR can be filed as per timelines given in Section 139(5) even after receiving an intimation under Section 143(1)," says Shalini Jain, Tax Partner, EY India.
- Go To Page 1
ITR refund status FY2023-24: 4 different income tax refund statuses; 8 reasons for refund failure
ITR refund status:If you have paid an excess of tax for a specific financial year, you should anticipate receiving a refund on your income tax after submitting your income tax return (ITR). Nonetheless, the refund will only be granted once the tax department has processed your ITR and issued a notice confirming it.
Latest income tax slabs and rates in new, old tax regime for FY 2024-25 (AY 2025-26)
Latest income tax slabs for FY 2024-25: Here are the latest income tax slabs that will be effective for the current financial year after Budget 2024. The budget was presented in July instead of February due to the Lok Sabha Elections 2024 held in April, May, and June, as opposed to the usual February presentation.
New tax slab rates, capital gains taxation, standard deduction NPS: Effective dates of all Budget 2024 income tax changes
Income tax changes in Budget 2024: Based on the information provided in the budget memorandum, here are the effective dates of different income tax adjustments outlined in Budget 2024.
Breaking down Budget 2024 - Financial impacts on the common man
The Union Budget 2024-25, announced by Finance Minister Nirmala Sitharaman, included notable tax reforms. It raised the standard deduction and increased the no-tax limit, while removing traditional exemptions. These measures are intended to simplify tax filing for low and middle-income earners, though changes in capital gains tax could impact investment decisions.
Who should switch from old to new tax regime after Budget 2024? Here's the math
Old vs New Income Tax Regime 2024: New income tax slabs in new tax regime: The income tax slabs under the new tax regime has been changed in the Budget 2024. The new income tax slabs will come into effect retrospectively from April 1, 2024. Now, there may be some individuals who are still paying their taxes under the old tax regime. Does it make sense for them to switch to new tax regime now?
New income tax slabs can save you this much tax if your income is Rs 7.75 lakh or 15 lakh, 25 lakh or 30 lakh, 50 lakh or 1 crore and above
Tax saved Budget 2024: The income tax slabs have been changed in the new tax regime. Many salaried and taxpayers are confused how much tax they will save due to new income tax slabs. Here is comparison of tax savings under old tax regime, existing new tax regime and proposed tax regime.
TDS on salary of these employees will decrease and others may get the option to join this group
TDS on salary budget 2024: The income tax slabs are proposed to be changed in the new tax regime. This will reduce the amount of TDS on salary that will be deducted for certain employees. Read on to know who will benefit and who will not benefit.
Budget 2024 makes new income tax regime more attractive: See how much taxes you can now save
Income tax changes in Budget 2024: Slab tweaks and higher standard deduction will make new tax regime more attractive.
New income tax slabs announced in new tax regime in Budget 2024
New Income Tax Slab: Latest income tax slabs in new tax regime in Budget 2024: The income tax slabs and rates have been changed by the finance minister in the new tax regime today. Read on to know the latest announcements made by the finance minister in Budget 2024 today.
Earn more than Rs 10 lakh annual income? You will save Rs 17,500 in taxes due to income tax changes in Budget 2024
Does this Budget leave you richer or poorer? The answer depends on your income level, which income tax regime you opt for, and how much and where you have invested.
Budget 2024 income tax highlights: Changes to taxation of capital gains, STT, income tax slabs, new tax regime, standard deduction, TCS rates
Budget 2024 Income Tax Updates: The Finance Minister, Nirmala Sitharaman, presented the Union Budget for the fiscal year 2024-25 today. The FM introduced several changes relating to income tax. These changes include adjustments to the income tax slabs under the new tax regime, capital gains taxation, an increase in standard deduction, and revisions to the rates of TDS and TCS, among other things.
Budget 2024: New income tax slabs, capital gains tax, key tax changes that impact salaried, other taxpayers
The Budget 2024, presented today by Finance Minister Nirmala Sitharaman, will impact personal finance and individual income taxation in various ways. Here's a round-up.
What FM gave and took away from you in Budget 2024 impacting your money and taxes
Who gains and who losses in Budget 2024: The finance minister Nirmala Sitharaman has announced many changes in the Budget 2024 presented today. However, some will have to pay more taxes going forward and some are likely to pay less taxes going forward.
Income tax changes in Budget 2024: New tax slabs, standard deduction limit hike, other key announcements in new tax regime
Latest income tax slabs: In today's Budget 2024, the finance minister Nirmala Sitharaman has made changes in the income tax slabs and rates for the current financial year in the new tax regime. Know all the changes announced in the new tax regime from income tax slabs to standard deduction limit in Budget 2024.
Budget 2024: Have any changes been made to old income tax regime in budget?
Old tax regime in Budget 2024: In the old tax regime, the basic exemption limit for income of the individual depends on the age of the taxpayer in the financial year.
Start 30% tax slab at Rs 30 lakh in Budget 2024 to give inflation-relief to middle class: Expert view
Budget 2024 expectations income tax slab changes: The tax rate of 30% for income exceeding Rs. 15 lakh in the new tax regime is very steep and should be made applicable only for income exceeding Rs. 30 lakh. This will widen the tax slab of 20% ensuring that most personal taxpayers in the mid-income group get relief which would also propel higher consumption and savings.
Budget 2024 income tax expectations: Move all exemptions, deductions to new tax regime, say salaried taxpayers
Income tax expectations Budget 2024: When it comes to the rationalisation of income tax slabs, over 53 per cent want the government to move Indians to the new tax regime with exemptions for income up to Rs 15 lakh.
Budget Bonanza: How Budget measures can supercharge your wallet and retail therapy
The upcoming Budget for Modi 3.0 is expected to focus on infrastructure development, rural consumption, and domestic manufacturing to strengthen India's long-term economic growth. A consumer-friendly budget is anticipated to increase disposable income, enhance purchasing power, and improve living costs, job opportunities, wages, education, and healthcare accessibility. The budget may introduce policies to boost consumer spending, revise income tax slabs, reform GST rates, reduce fuel tax, expand social welfare schemes, invest in infrastructure, control inflation, and promote affordable housing, ultimately empowering consumers and driving economic growth.
Poor middle class is getting taxed more: The gold standard demands 10% tax slab to start from Rs 10 lakh today
Since, budget of 2005-06, gold rose more than 10 times in last 19 years but tax slabs have not changed much. Basic income tax exemption limit of Rs 1 lakh in the year 2005-06 was worth 145 gm of gold then. However, at Rs 2.5 lakh basic exemption limit, it is worth a tiny 34 gm now. So, poor people are getting taxed with unchanged rates not factoring adverse impact of inflation. At gold standard the tax slab of 10% should start from Rs 10 lakh in 20024 which is worth 145g gold.
Load More
