Income Tax Returns: Exemptions and deductions that are still allowed under new tax regime

Income Tax Returns: Exemptions and deductions that are still allowed under new tax regime

As a taxpayer, you must be aware of the fact that the new tax regime is now the default regime. Therefore, one has to opt for the old tax regime in case they want to avail one or more tax deductions and exemptions. The last date to file income tax return for financial year 2023-24 … Read more

Income Tax: What is your default regime— old or new? Key things you should know before filing ITR

Income Tax: What is your default regime— old or new? Key things you should know before filing ITR

As the last date to file the income tax return (ITR) looms closer and you have not yet filed the return, it is imperative to first decide the tax regime you plan to opt for. One should file their ITR by July 31 of a financial year to avoid penalties.  It is noteworthy to mention … Read more